Sole Risk Drilling Sample Clauses

Sole Risk Drilling. 7.3.1 No Sole Risk Drilling under Article 7.2.2 (a)(i) or (ii) may be proposed unless: (a) Such drilling was proposed to the Operating Committee at the time of the consideration of the current exploration and appraisal Programme and Budget (hereinafter referred to in this Article 7 as "work Programme and Budget") or at the time of consideration of any revision thereto, but was not included in such work Programme and Budget; or (b) Having been included in the current work Programme and Budget, the Operating Committee has voted against or failed to vote in favour of an AFE (or the relevant part thereof) relating to such drilling within the period specified by the Operator for consideration of the AFE pursuant to Article 5 provided that a decision by the Operating Committee to change the timing of such drilling within the Year to which the current work Programme and Budget relates shall not be a vote against the AFE for the purpose of this Article 7.3.1 (b); or (c) Such drilling was proposed to the Operating Committee in reasonably sufficient detail by way of amendment to an AFE and/or the current work Programme and Budget and the Operating Committee has voted against or failed to vote in favour of such drilling within sixty (60) days of submission of such amendment to the Parties. 7.3.2 No Sole Risk Drilling under Article 7.2.2(a)(iv) may be proposed unless: (a) Such drilling was proposed to the Operating Committee at the time of its consideration of the current work Programme and Budget, or at the time of consideration of any revision thereto, but was not included in such work Programme and Budget and the Operating Committee has not instructed the Operator to prepare a development Programme and Budget in respect of the Discovery; or (b) The Operating Committee has abandoned or completed its appraisal programme of the interpreted closure of any geological structure or stratigraphic trap on which a well has been drilled in which a Discovery was made and the Operating Committee has voted against, or failed to vote in favour of, a proposal to instruct the Operator to prepare a development Programme and Budget in respect thereof and no Party has given notice under Article 7.5.1 that it intends to prepare such a development Programme and Budget. 7.3.3 Subject to Articles 7.3.1 and 7.3.2 if a Party wishes to propose Sole Risk Drilling under Article 7.2.2(a)(i), (ii) or (iv) it shall give notice to the other Parties setting out: (a) The proposed location of such dr...
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Related to Sole Risk Drilling

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