Exploratory Operations. Operations on the LEASES, which are scheduled for an objective zone, horizon or formation:
(1) which has not been established as producible on the LEASE under 2.18 below; or,
(2) which is already established as producible on the LEASE under 2.18 below, but such objective zone, horizon or formation will be penetrated at a location more than 2,000 feet from the nearest bottom hole location on the LEASE at which such objective has been proved producible, or such objective is mutually agreed to be in a separate fault block.
Exploratory Operations. An operation that is conducted on the Lease and that is any of the following:
(a) proposed to Complete an Exploratory Well;
(b) proposed for an Objective Horizon that is not a Producible Reservoir;
(c) proposed for an Objective Horizon that has a Producible Well, but that will be penetrated at a location where the distance between the midpoint of the Objective Horizon to be penetrated by the proposed operation and the midpoint of the same Objective Horizon where it is actually penetrated by a Producible Well will be at least three thousand (3,000) feet for a gas Completion and at least two thousand (2,000) feet for an oil Completion; or
(d) proposed for an Objective Horizon that is unanimously agreed by the Parties not to be in an existing Producible Reservoir.
Exploratory Operations. Drilling Operations on the Lease which are:
a) Scheduled for an objective zone, horizon or formation which has not been established as producible on the Lease under 2.16 below; or
b) Scheduled for an objective zone, horizon or formation already established as producible on the Lease under 2.16 below, but the vertical projection of the midpoint of such objective will be penetrated at a location which is more than 3,000' from the vertical projection of the midpoint of the same objective in the nearest well on the Lease which has been proven to be producible, or such objective is agreed by all Parties to be in a separate reservoir not in communication with a well proven to be producible.
Exploratory Operations. 28Exploratory Well A well proposed and drilled as an Exploratory Operation [including, but not limited to, a substitute well for an Exploratory Well abandoned under Article 10.1.4 (AFE Overruns and Substitute Well)].
Exploratory Operations. 20
10.1 Operations by All Parties 20
10.2 Second Opportunity to Participate 21
10.3 Final Election to Participate 21 10.4 Operations by Fewer than All Parties 21
Exploratory Operations. Operations within the Contract Area:
(a) to a proposed objective zone, horizon, or formation which does not have a Producible Well and all activities necessary for the accomplishment of such drilling up to, but not including, the election following the Operator's recommendation in Section 10.6 below.
(b) to a proposed objective zone, horizon, or formation which does have one (1) or more Producible Well(s), but such objective will be penetrated at a location which all of the Participating Parties in the preexisting Producible Well(s) agree, at the time that the proposed Exploratory Well is approved, will be in a totally separate reservoir or will not drain or produce reserves that would be recovered by the preexisting Producible Well(s), and all activities necessary for the accomplishment of such drilling up to, but not including, the election following the Operator's recommendation in Section 10.6 below; or
Exploratory Operations. Operations within the Contract Area:
Exploratory Operations. 10.1 Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.2
Exploratory Operations. If one or more Participating Party(s) proceed with timely operations for the Exploratory Well on a Designated Prospect as a Non-Consent Operation, the Non-Participating Party(s) in either the Exploratory Well or any supplemental AFE for that well, shall relinquish and assign to the Participating Party(s) one hundred percent (100%) of the Non-Participating Party's right, title and interest in and to all of the Leases comprising the Designated Prospect, and any wells drilled thereon.
Exploratory Operations. Operations on the LEASE which are scheduled for an objective zone, horizon or formation:
(1) which has not been established as producible on the LEASE under
