Common use of Objective of the Contract Clause in Contracts

Objective of the Contract. 2.1 The objective of the Contract is to explore for, develop, produce and sell Coalbed Methane, Liquid Hydrocarbons or Coalbed Methane Products that may exist in the Contract Area, including all activities necessary to transport and market CBM, CBM Products and Liquid Hydrocarbons from the Contract Area. 2.2 The Contractor shall apply its appropriate and advanced technology and assign its competent experts to perform the Coalbed Methane Operations. 2.3 During the performance of the CBM Operations, the Contractor shall, as far as practicable and appropriate, transfer its technology used in CBM Operations hereunder to allow the Chinese Personnel to utilize said technology and to train such personnel in accordance with Article 16 hereof. 2.4 The Contractor shall bear all the exploration costs required for the Exploration Operations. In the event that any CBM Field is discovered within the Contract Area, the development costs of such CBM Field shall be borne by the Parties in proportion to their participating interests: thirty percent (30%) by CUCBM and seventy percent (70%) by the Contractor. In the event that CUCBM opts to participate at a level less than thirty percent (30%) of the participating interests, or not to participate in the development of the CBM Field, the Contractor shall bear the remaining development costs necessary for the development of the CBM Field in accordance with Article 12.1.2 hereof. 2.5 If any CBM Field is discovered within the Contract Area, the CBM and/or Liquid Hydrocarbons produced therefrom shall be allocated in accordance with Articles 12 and 13 hereof. 2.6 Nothing contained in the Contract shall be deemed to confer any right on the Contractor other than those rights expressly granted hereunder.

Objective of the Contract. 2.1 The objective of the Contract is to explore for, develop, produce and sell Coalbed Methane, Liquid Hydrocarbons or Coalbed Methane Products products that may exist in the Contract Area, including all activities necessary to transport and market CBM, CBM Products and Liquid Hydrocarbons from the Contract Area. 2.2 The Contractor shall apply its appropriate and advanced technology and assign as­sign its competent experts to perform the Coalbed Methane Operations. 2.3 During the performance of the CBM Operations, the Contractor shall, as far as practicable and appropriate, transfer its technology used in CBM Operations hereunder to allow the Chinese Personnel Person­nel to utilize said technology and to train such personnel in accordance with Article Arti­cle 16 hereof. 2.4 The Contractor shall bear all the exploration costs required for the Exploration Ex­plora­tion Operations. In the event that any CBM Field is discovered dis­covered within the Contract Area, the development costs of such CBM Field shall be borne by the Parties in proportion to their participating interests: thirty percent (30%) by CUCBM and seventy percent (70%) by the Contractor. In the event that CUCBM opts to participate at a level less than thirty percent (30%) of the participating participat­ing interests, or not to participate in the development of the CBM Field, the Contractor shall bear the remaining development costs necessary neces­sary for the development of the CBM Field in accordance with Article Ar­ticle 12.1.2 hereof. 2.5 If any CBM Field is discovered within the Contract AreaAr­ea, the CBM and/or Liquid Hydrocarbons produced therefrom shall be allocated allo­cated in accordance accor­dance with Articles 12 and 13 hereof. 2.6 Nothing contained in the Contract shall be deemed to confer any right on the Contractor other than those rights expressly granted hereunder.