Operatorship Transition Sample Clauses

Operatorship Transition. On the Effective Date, Gold Oil will assume all liabilities for operations under the Operating Agreement, and shall take direct control and responsibility for operations and assets located in the Rosablanca – 1 well location. Contemporaneously with the execution of this Settlement Agreement, Osage, and LEC agrees to provide Gold Oil with a list of all facilities, personnel and contractors available in the Rosablanca – 1 well location, including copy of any permit, servitude, right of way, and any document related to the Rosablanca License in power of LEC. All the Parties agree to cooperate with each other to provide Gold Oil with all the legal and technical documentation that may be reasonable required by Gold Oil to assume Operatorship under the Operating Agreement.