Common use of Renewal or Extension of Leases Clause in Contracts

Renewal or Extension of Leases. If any party secures a renewal of any oil and gas lease subject to this agreement, all other parties shall be notified promptly, and shall have the right for a period of thirty (30) days following receipt of such notice in which to elect to participate in the ownership of the renewal lease, insofar as such lease affects lands within the Contract Areal, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease within the Contract Area, which shall be in proportion to the interests held of that time by the parties in the Contract Area. If some, but less than all, of the parties elect to participate in the purchase of a renewal lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal lease. Any renewal lease to which less than all parties elect to participate shall not be subject to this agreement. Each party who participates in the purchase of a renewal lease shall be given an assignment of its proportionate interest therein by the acquiring party. The provision of this Article shall apply to renewal leases whether they are for the entire interest covered by the expiring lease or cover only a portion of its area or an interest therein. Any renewal lease taken before the expiration of its predecessor lease, or taken or contracted for within six (6) months after the expiration of the existing lease shall be subject to this provision; but any lease taken or contracted for more than six (6) months after the expiration of an existing lease shall not be deemed a renewal lease and shall not be subject to the of this agreement. The provisions in this Article shall also be applicable to extensions of oil and gas leases.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly on the acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly on expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such the notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease the Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease the Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest in that lease by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate thereinin the purchase, in a ratio based upon on the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties shall not cause a readjustment of the interests of the parties stated in Exhibit “A,” but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement. Each party who participates Agreement but shall be deemed subject to a separate Operating Agreement in the purchase form of a this Agreement. If the interests of the parties in the Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect those depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest thereinin it. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this Agreement is in effect at the time of the acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreementAgreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any party Party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly on the acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly on expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such the notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease the Lease affects lands within the Contract ArealArea, by paying to the party Party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease the Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties in the Contract Area. Each Party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest in that lease by the acquiring Party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate thereinin the purchase, in a ratio based upon on the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties shall not cause a readjustment of the interests of the parties stated in Exhibit “A,” but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates If the interests of the parties in the purchase of a Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect those depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest thereinin it. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of the acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any party Party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreementAgreement, then all other parties Parties shall be promptly notified promptlyof the acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly on expiration of the existing Lease. The Parties notified shall have the right for a period of thirty (30) days following receipt delivery of such the notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease the Lease affects lands within the Contract ArealArea, by paying to the party Party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease the Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties Parties in the Contract Area. Each Party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest in it by the acquiring Party. If some, but less than all, of the parties Parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties Parties, who elect to participate thereinparticipate, in a ratio based upon on the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties Parties participating in the purchase of such the renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by all of the Parties shall not cause a readjustment of the interests of the Parties stated in Exhibit “A,” but any renewal or replacement Lease in which less than all parties Parties elect to participate shall not be subject to this agreement. Each party who participates Agreement but shall be deemed subject to a separate Operating Agreement in the purchase form of a this Agreement. If the interests of the Parties in the Contract Area vary according to depth, then their right to participate proportionately in any renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect those depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest thereinin the area. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this Agreement is in effect at the time of the acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreementAgreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreementAgreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the given parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages percentage of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit “A”, but any renewal or replacement lease to in which less than all parties elect to participate shall not be subject to this agreement. Each party who participates Agreement but shall be deemed subject to a separate Operating Agreement in the purchase form of a this Agreement. If the interests of the parties in the Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect such depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this Agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreementAgreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Lease.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests interest held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit "A," but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates If the interests of the parties in the purchase of a Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect such depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the of provisions o this agreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit “A”, but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates If the interests of the parties in the purchase of a Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect such depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any the Operator or other party subject hereto secures a renewal of any oil and gas lease subject to this agreement, all other parties it shall be notified promptly, and shall have for the right for a period joint account of thirty (30) days following receipt of such notice in which to elect to participate in all the ownership of the renewal leaseDrilling Parties, insofar as such lease affects lands within the Contract ArealArea, by paying subject to the right of Operator or other party who acquired it to secure a lien and security interest on the oil and gas rights and production resulting therefrom of each Non-Operator in the Contract Area pending the reimbursement by each Non-Operator of their several proper proportionate shares share of the lease acquisition cost costs allocated to that part of such lease within the Contract Area, Area which shall be in proportion to the interests held of at that time by the parties in the Contract Area. If some, but less than all, of the parties elect to participate in the purchase of a renewal lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal lease. Any renewal lease to which less than all parties elect to participate shall not be subject to this agreement. Each party Non-Operator who participates in the purchase of a renewal lease in accordance with this agreement shall be given an assignment of its proportionate interest therein by the acquiring party. The provision provisions of this Article shall apply to the renewal or extension of leases whether they are for the entire interest covered by the expiring lease or cover only a portion of its area or an interest therein. Any renewal or extension lease taken before the expiration of its predecessor lease, or taken or contracted for within six (6) months after the expiration of the existing lease shall be subject to this provision; but any lease taken or contracted for more than six (6) months after the expiration of an existing lease shall not be deemed a renewal lease and shall not be subject to t the provisions of this agreementAgreement. The provisions However, a renewal or extension secured within one (1) year from the expiration of the existing lease shall be subject to this provision if the delay in securing such renewal or extension was done by Operator with the intent of avoiding his obligations under this Article shall also be applicable to extensions of oil and gas leasesArticle.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea of Mutual Interest, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract AreaArea of Mutual Interest, which shall be in proportion to the interests interest held of at that time by the parties in the Contract AreaArea of Mutual Interest. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area of Mutual Interest to the aggregate of the percentages of participation in the Contract Area of Mutual Interest of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit "A," but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates in the purchase of a renewal lease shall be given an assignment of its proportionate interest therein by the acquiring party. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement base taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. a. If any party secures a renewal of any oil and gas lease subject to this agreement, all other parties shall be notified promptly, and shall have the right for a period of thirty (30) days following receipt of such notice in which to elect to participate in the ownership of the renewal lease, insofar as such lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties in the Contract Area. . b. If some, but less than all, of the parties elect to participate in the purchase of a renewal lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal lease. Any renewal lease to in which less than all parties elect to participate shall not be subject to this agreement. . c. Each party who participates in the purchase of a renewal lease shall be given an assignment of its proportionate interest therein by the acquiring party. . d. The provision provisions of this Article shall apply to renewal leases whether they are for the entire interest covered by the expiring lease or cover only a portion of its area or an interest therein. Any renewal lease taken before the expiration of its predecessor lease, or taken or contracted for within six (6) months after the expiration of the existing lease shall be subject to this provision; but any lease taken or contracted for more than six (6) months after the expiration of an existing lease shall not be deemed a renewal lease and shall not be subject to the provisions of this agreement. . e. The provisions in this Article shall also be applicable to extensions of oil and gas leases.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests interest held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by me acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit “A,” but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement. Each party who participates in the purchase of a renewal lease tins agreement but shall be given deemed subject to a separate Operating Agreement m the form of this agreement If the interests of the parties m the Contract Area vary according to depth, then their right to participate proportionately in renewal or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring party. The provision of this Article shall apply to renewal leases whether they are for the entire interest covered by the expiring lease or cover only a portion of its area or an interest therein. Any renewal lease taken before the expiration of its predecessor lease, or taken or contracted for within six (6) months after the expiration of the existing lease shall be subject to this provision; but any lease taken or contracted for more than six (6) months after the expiration of an existing lease shall not be deemed a renewal lease and shall not be subject to the of this agreement. The provisions in this Article shall also be applicable to extensions of oil and gas leasesreflect such depth variances. A. A.P.L. FORM 610 – 1989

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal or replacement lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit “A”, but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates If the interests of the parties in the purchase of a Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect such depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreement. The provisions in of this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.

Renewal or Extension of Leases. If any party Party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties Parties shall be notified promptlypromptly upon such acquisition or, and in the ease of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The Parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party Party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests interest held of at that time by the parties Parties in the Contract Area. Each Party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring Party, without warranty of title, except as to acts by, through or under the acquiring Party. If some, but less than all, of the parties Parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties Parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties Parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the Parties shall not cause a readjustment of the interests of the Parties stated in Exhibit "A", but any renewal or replacement Lease in which less than all parties Parties elect to participate shall not be subject to this agreement. Each party who participates agreement but shall be deemed subject to a separate Operating Agreement in the purchase of a renewal lease shall be given an assignment of its proportionate interest therein by the acquiring party. The provision of this Article shall apply to renewal leases whether they are for the entire interest covered by the expiring lease or cover only a portion of its area or an interest therein. Any renewal lease taken before the expiration of its predecessor lease, or taken or contracted for within six (6) months after the expiration of the existing lease shall be subject to this provision; but any lease taken or contracted for more than six (6) months after the expiration of an existing lease shall not be deemed a renewal lease and shall not be subject to the form of this agreement. The provisions in this Article shall also be applicable to extensions of oil and gas leases.

Renewal or Extension of Leases. If any party secures a renewal or replacement of any oil an Oil and gas lease Gas Lease or Interest subject to this agreement, then all other parties shall be notified promptlypromptly upon such acquisition or, and in the case of a replacement Lease taken before expiration of an existing Lease, promptly upon expiration of the existing Lease. The parties notified shall have the right for a period of thirty (30) days following receipt delivery of such notice in which to elect to participate in the ownership of the renewal leaseor replacement Lease, insofar as such lease Lease affects lands within the Contract ArealArea, by paying to the party who acquired it their several proper proportionate shares of the acquisition cost allocated to that part of such lease Lease within the Contract Area, which shall be in proportion to the interests interest held of at that time by the parties in the Contract Area. Each party who participates in the purchase of a renewal or replacement Lease shall be given an assignment of its proportionate interest therein by the acquiring party. If some, but less than all, of the parties elect to participate in the purchase of a renewal leaseor replacement Lease, it shall be owned by the parties who elect to participate therein, in a ratio based upon the relationship of their respective percentage of participation in the Contract Area to the aggregate of the percentages of participation in the Contract Area of all parties participating in the purchase of such renewal leaseor replacement Lease. Any The acquisition of a renewal lease to or replacement Lease by any or all of the parties hereto shall not cause a readjustment of the interests of the parties stated in Exhibit “A,” but any renewal or replacement Lease in which less than all parties elect to participate shall not be subject to this agreement but shall be deemed subject to a separate Operating Agreement in the form of this agreement. Each party who participates If the interests of the parties in the purchase of a Contract Area vary according to depth, then their right to participate proportionately in renewal lease shall be given or replacement Leases and their right to receive an assignment of its proportionate interest therein by the acquiring partyshall also reflect such depth variances. The provision provisions of this Article shall apply to renewal leases or replacement Leases whether they are for the entire interest covered by the expiring lease Lease or cover only a portion of its area or an interest therein. Any renewal lease or replacement Lease taken before the expiration of its predecessor leaseLease, or taken or contracted for or becoming effective within six (6) months after the expiration of the existing lease Lease, shall be subject to this provisionprovision so long as this agreement is in effect at the time of such acquisition or at the time the renewal or replacement Lease becomes effective; but any lease Lease taken or contracted for more than six (6) months after the expiration of an existing lease Lease shall not be deemed a renewal lease or replacement Lease and shall not be subject to the provisions of this agreement. The provisions in this Article shall also be applicable to extensions of oil Oil and gas leasesGas Leases.