Joint Drilling as a Result of Sole Risk Geophysical Survey Sample Clauses

Joint Drilling as a Result of Sole Risk Geophysical Survey. If the sole risk operations carried out under Section 8.2 a) result in the identification of a prospect which the Operating Committee approves for drilling for the Joint Account, then each Non Sole Risk Participant with respect to such operations who has not previously in accordance with Section 8.5.1 obtained access to such data and information and who wishes or is obliged to participate in the drilling of a well on such prospect or development program shall pay the Sole Risk Participants with respect to such operations, in cash, an amount equal to… per cent ( %) of the amount it would have contributed to the Joint Account had such operations been carried out as part of the Joint Operations. Such payment shall be made before the commencement of drilling of such well, and the Parties making the payment shall thereupon receive from the Sole Risk Participants all data and information obtained from the sole risk operations and shall become a joint owner of such data and information.
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