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Common use of Extension Clause in Contracts

Extension. If Lessee fails to make discovery of oil and gas, or either of them, in paying quantities during the primary term hereof, or during drilling operations commenced during the primary term hereof, Lessee may make written application to Lessor for an extension of this lease. The granting of such extension shall be at the sole option of Lessor, according to the following conditions:

Appears in 59 contracts

Samples: Oil and Gas Lease, Oil and Gas Lease, Oil and Gas Lease