Profit Gas Revenue Allocation — Proven Section Sample Clauses

Profit Gas Revenue Allocation — Proven Section. The apportionment of Profit Gas Revenues from sales of Additional Gas from the Proven Section of the Contract Area for each Quarter shall be based on either (a) cumulative sales of Additional Gas from Financial Closing, measured in BCF at the end of each Quarter; or (b) average daily sales, measured in MMcfd and averaged quarterly (calculated by dividing the total volume of Additional Gas produced and sold from the Proven Section of the Contract Area during each Quarter by the total numbers of days during which Additional Gas was produced in such Quarter), whichever measurement produces the higher percentage apportionment for PanAfrican Tanzania for that Quarter. The respective apportionments of Profit Gas Revenues are as follows: Average Daily Sales Cumulative Sales of Additional Gas Share of Proven Section Profit Gas Revenues (%) (MMcfd) OR (BCF) TPDC PanAfrican Tanzania over 20 but less than or equal to 30 over 125 but less than or equal to 250 70 30 over 30 but less than or equal to 40 over 250 but less than or equal to 375 65 35 over 40 but less than or equal to 50 over 375 but less than or equal to 500 60 40 over 50 over 500 45 55 In connection with any Joint Development Area within the Proven Section, TPDC’s share of Profit Gas Revenues indicated above relative to each increment of production from such Joint Development Area shall be increased by the number of percentage points obtained by multiplying the percentage of the Specified Proportion determined in accordance with Article VIII by TPDC’s share of Profit Gas Revenues indicated above relative to such increment of Profit Gas Revenues, and PanAfrican Tanzania’s share shall be reduced accordingly.
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