Common use of Oil and Gas Interests Clause in Contracts

Oil and Gas Interests. If any Party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its term as if it were covered by the form of Oil and Gas Lease attached as Exhibit “B,” and the owner shall be deemed to own both the royalty interest in the lease and the interest of the lessee.

Appears in 2 contracts

Samples: Joint Operating Agreement, Operating Agreement (New Source Energy Corp)

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Oil and Gas Interests. If any Party party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement Agreement and during its term as if it were covered by the form of Oil and Gas Lease attached as Exhibit “B,” and the owner shall be deemed to own both the royalty interest in the lease and the interest of the lessee.

Appears in 2 contracts

Samples: Golden Lane Participation Agreement (New Source Energy Partners L.P.), Golden Lane Participation Agreement (New Source Energy Corp)

Oil and Gas Interests. If any Party party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached hereto as Exhibit “B,” and the owner thereof shall be deemed to own both the royalty interest in the such lease and the interest of the lesseelessee there under.

Appears in 2 contracts

Samples: Purchase and Sales Agreement, Purchase and Sales Agreement (Imperial Petroleum Inc)

Oil and Gas Interests. If any Party owns an Oil and Gas Interest in the Contract Area, that such Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached hereto as Exhibit "B,” ", and the owner thereof shall be deemed to own both the royalty interest in the such lease and the interest of the lessee.lessee thereunder. OPERATING AGREEMENT (continued)

Appears in 1 contract

Samples: Operating Agreement (Megawest Energy Corp.)

Oil and Gas Interests. If any Party party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached hereto as Exhibit “B,” and the owner thereof shall be deemed to own both the royalty interest in the such lease and the me interest of the lesseelessee thereunder.

Appears in 1 contract

Samples: Operating Agreement (American Standard Energy Corp.)

Oil and Gas Interests. If any Party party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached hereto as Exhibit “B,” ”, and the owner thereof shall be deemed to own both the royalty interest in the such lease and the interest of the lesseelessee thereunder.

Appears in 1 contract

Samples: Operating Agreement (Belden & Blake Corp /Oh/)

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Oil and Gas Interests. If any Party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and Agreement, during its term term, as if it were covered by the form of Oil and Gas Lease lease attached as Exhibit “B,” and the owner shall be deemed to own both the royalty interest in the lease Lease and the interest of the lesseelessee in the Lease.

Appears in 1 contract

Samples: Operating Agreement (West Texas Resources, Inc.)

Oil and Gas Interests. If any Party party owns an Oil and Gas Interest in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached hereto as Exhibit "B," and the owner thereof shall be deemed to own both the royalty interest in the such lease and the interest of the lesseelessee thereunder.

Appears in 1 contract

Samples: Operating Agreement (Explortex Energy Inc.)

Oil and Gas Interests. If any Party party owns an Oil and Gas Interest Interest(s) in the Contract Area, that Interest shall be treated for all purposes of this agreement and during its the term hereof as if it were covered by the form of Oil and Gas Lease attached as Exhibit “B,” and the owner shall be deemed to own both the royalty interest in the lease and the interest of the lesseelessee hereunder.

Appears in 1 contract

Samples: Joint Operating Agreement

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