Common use of Prior Exploration Costs Clause in Contracts

Prior Exploration Costs. it being understood that the deductions in respect of the Costs referred to in paragraphs 3.01(a), (b), (d) and (e) of this Appendix II shall be based on those Costs as recorded by that Participant and the deductions in respect of the Costs referred to in paragraphs 3.01(c), (f), (g) and (h) of this Appendix II shall be based on that Participant's Proportionate Share of those Costs as recorded by the Operator.

Prior Exploration Costs. it being understood that the The deductions in respect of the Costs referred to in paragraphs 3.01(a), (b), (d) if paid or payable by the Participant; and (e) of this Appendix II III shall be based on those Costs as recorded by that Participant and the deductions in respect of the Costs referred to in paragraphs 3.01(c), (d) if paid or payable by the Operator; (f), (g) and (h) of this Appendix II III shall be based on that Participant's Proportionate Share =s proportionate share of those Costs as recorded by the Operator.

Prior Exploration Costs. it being understood that the deductions in respect of the Costs referred to in paragraphs 3.01(a3.1(a), (b), (d) and (e) of this Appendix II shall be based on those Costs as recorded by that Participant and the deductions in respect of the Costs referred to in paragraphs 3.01(c3.1(c), (f), (g) and (h) of this Appendix II shall be based on that Participant's Proportionate Share of those Costs as recorded by the Operator.