Common use of Reduction and Return Rules Clause in Contracts

Reduction and Return Rules. The Contractor shall relinquish and return the Contract Area as set forth below: (a) If the Contractor has executed the termination right as provided in Article 4.2 upon termination of the Initial Exploration Period, the Contractor must return one hundred percent (100%) of the Contract Area. (b) If the Contractor is granted with the First Additional Exploration Period, upon termination of the Initial Exploration Period, the Contractor shall not return any portion of the Contract Area. (c) If the Contractor is not granted with the First Additional Exploration Period, upon the termination of the Initial Exploration Period the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or a Development Plan approved by the CNH. (d) If the Contractor is not granted with the Second Additional Exploration Period, upon the termination of the First Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or a Development Plan approved by the CNH. (e) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to one (1) Well as provided in the Annex 5, the Contractor shall return fifty percent (50%) of the Contract Area that is not considered within the Appraisal Plan or Development Plan approved by the CNH upon termination of the First Additional Exploration Period. (f) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to two (2) Xxxxx as provided in the Annex 5, the Contractor shall not return any portion of the Contract Area. (g) Upon the termination of the Second Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or in a Development Plan approved by the CNH. (h) Upon the termination of the corresponding Appraisal Periods, the Contractor shall return one hundred percent (100%) of the Appraisal Areas if: (i) within the term provided in Article 6.1 of this Contract a Commercial Discovery is not declared; or (ii) having declared a Commercial Discovery it does not submit a Development Plan for approval by the CNH within the terms provided in Article 6.2 of this Contract, or (iii) having submitted a Development Plan it is not approved by the CNH pursuant to the Applicable Laws. (i) In the event that an extension of the term of this Contract is granted and upon request from the CNH, the Contractor shall return one hundred percent (100%) of the subsoil structures and stratigraphic traps excluded from the Development Plan modified in accordance with Article 3.2. (j) Upon the termination of this Contract for any reason or in the event that the CNH rescinds this Contract, the Contractor shall return one hundred percent (100%) of the Contract Area, including any Appraisal Area and Development Area.

Reduction and Return Rules. The Contractor shall relinquish and return the Contract Area as set forth below: (a) If the Contractor has executed the termination right as provided in Article 4.2 upon termination of the Initial Exploration Period, the Contractor must return one hundred percent (100%) of the Contract AreaArea that has not been considered in an Appraisal Plan or Development Plan approved by the CNH. (b) If the Contractor is granted with the First Additional Exploration Period, upon termination of the Initial Exploration Period, the Contractor shall not return any portion of the Contract Area. (c) If the Contractor is not granted with the First Additional Exploration Period, upon the termination of the Initial Exploration Period the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within a Development Plan or in an Appraisal Plan or a Development Plan approved by the CNH. (d) If the Contractor is not granted with the Second Additional Exploration Period, upon the termination of the First Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within a Development Plan or in an Appraisal Plan or a Development Plan approved by the CNH. (e) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to one (1) Exploratory Well as provided in the Annex 5, the Contractor shall return fifty percent (50%) terms of the Contract Area that is not considered within the Appraisal Plan or Development Plan approved by the CNH upon termination of the First Additional Exploration Period. (f) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to two (2) Xxxxx as provided in the Annex 5, the Contractor shall not return any portion of the Contract Area. (gf) Upon the termination of the Second Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or in a Development Plan approved by the CNH. (hg) Upon the termination of the corresponding Appraisal Periods, the Contractor shall return one hundred percent (100%) of the Appraisal Areas if: (i) within the term terms provided in Article 6.1 of by this Contract a Commercial Discovery is not declared; or (ii) having declared a Commercial Discovery it the Contractor does not submit a Development Plan for approval by the CNH within the terms provided in Article 6.2 of this ContractCNH, or (iii) having submitted a Development Plan it is not approved by the CNH pursuant to the Applicable Laws. (ih) In the event that an extension of the term of this Contract is granted and upon request from the CNH, the Contractor shall return one hundred percent (100%) of the subsoil structures and stratigraphic traps excluded from the Development Plan modified in accordance with Article 3.2. (j) Upon the termination of this Contract for any reason or in the event that the CNH rescinds this Contract, the Contractor shall return one hundred percent (100%) of the Contract Area, including any Appraisal Area and Development Area.

Reduction and Return Rules. The Contractor shall relinquish and return the Contract Area as set forth below: (a) If the Contractor has executed the termination right as provided in Article 4.2 upon termination of the Initial Exploration Period, the Contractor must return one hundred percent (100%) of the Contract AreaArea that has not been considered in an Appraisal Program or Development Plan approved by the CNH. (b) If the Contractor is granted with the First Additional Exploration Period, upon termination of the Initial Exploration Period, the Contractor shall not return any portion of the Contract Area. (c) If the Contractor is not granted with the First Additional Exploration Period, upon the termination of the Initial Exploration Period the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or a Development Plan or in an Appraisal Program approved by the CNH. (d) If the Contractor is not granted with the Second Additional Exploration Period, upon the termination of the First Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan or a Development Plan or in an Appraisal Program approved by the CNH. (e) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to one (1) Exploratory Well as provided in the Annex 5, the Contractor shall return fifty percent (50%) terms of the Contract Area that is not considered within the Appraisal Plan or Development Plan approved by the CNH upon termination of the First Additional Exploration Period. (f) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to two (2) Xxxxx as provided in the Annex 5, the Contractor shall not return any portion of the Contract Area. (gf) Upon the termination of the Second Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is not considered within an Appraisal Plan Program or in a Development Plan approved by the CNH. (hg) Upon the termination of the corresponding Appraisal Periods, the Contractor shall return one hundred percent (100%) of the Appraisal Areas if: (i) within the term provided in Article 6.1 of this Contract a Commercial Discovery is not declared; or (ii) having declared a Commercial Discovery it does not submit a Development Plan for approval by the CNH within the terms provided in Article 6.2 of this Contract, or (iii) having submitted a Development Plan it is not approved by the CNH pursuant to the Applicable Laws. (i) In the event that an extension of the term of this Contract is granted and upon request from the CNH, the Contractor shall return one hundred percent (100%) of the subsoil structures and stratigraphic traps excluded from the Development Plan modified in accordance with Article 3.2. (j) Upon the termination of this Contract for any reason or in the event that the CNH rescinds this Contract, the Contractor shall return one hundred percent (100%) of the Contract Area, including any Appraisal Area and Development Area.if

Reduction and Return Rules. The Contractor shall relinquish and return the Contract Area as set forth below: (a) If the Contractor has executed the termination right as provided in Article 4.2 upon termination of the Initial Exploration Period, the Contractor must return one hundred percent (100%) of the Contract Area. (b) If the Contractor is granted with the First Additional Exploration Period, upon termination of the Initial Exploration Period, the Contractor shall not return any portion of the Contract Area. (c) If the Contractor is not granted with the First Additional Exploration Period, upon the termination of the Initial Exploration Period the Contractor shall return one hundred percent (100%) of the Contract Area that is does not considered within an Appraisal Plan or have a Development Plan approved by the CNH, unless it has been designated as an Appraisal Area. (dc) If the Contractor is not granted with the Second Additional Exploration Period, upon Upon the termination of the First Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is does not considered within an Appraisal Plan or have a Development Plan approved by the CNH, unless it has been designated as an Appraisal Area. This percentage may be reduced as provided in Article 7.2. (e) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to one (1) Well as provided in the Annex 5, the Contractor shall return fifty percent (50%) of the Contract Area that is not considered within the Appraisal Plan or Development Plan approved by the CNH upon termination of the First Additional Exploration Period. (f) If the Contractor is granted with the Second Additional Exploration Period through the commitment of performing the Work Units equivalent to two (2) Xxxxx as provided in the Annex 5, the Contractor shall not return any portion of the Contract Area. (gd) Upon the termination of the Second Additional Exploration Period, the Contractor shall return one hundred percent (100%) of the Contract Area that is does not considered within an Appraisal Plan or in have a Development Plan approved by the CNH, unless it has been designated as an Appraisal Area. (he) Upon the termination of the corresponding Appraisal Periods, the Contractor shall return one hundred percent (100%) of the Appraisal Areas if: (i) within the term time periods provided in Article 6.1 of by this Contract it does not declare a Commercial Discovery is not declaredDiscovery; or (ii) having declared a Commercial Discovery it does not submit a Development Plan for approval by the CNH within the terms provided in Article 6.2 of this ContractCNH, or (iii) having submitted a Development Plan it is not approved by the CNH pursuant to the Applicable Laws. (if) In the event that an extension of the term of this Contract is granted and upon request from the CNH, the Contractor shall return one hundred percent (100%) of the subsoil structures and stratigraphic traps excluded from the Development Plan modified in accordance with Article 3.2. (jg) Upon the termination of this Contract for any reason or in the event that the CNH rescinds this Contract, the Contractor shall return one hundred percent (100%) of the Contract Area, including any Appraisal Area and Development Area.