Common use of Sole Risk Payments Clause in Contracts

Sole Risk Payments. 7.4.1 If Sole Risk Drilling carried out under Article 7.2.2(a)(i), (ii) or (iii) has made a particular Discovery or Sole Risk Drilling has been carried out under Article 7.2.2(a)(iv) in respect of a particular Discovery and any Party which was a Non-Sole Risk Party in all or part of such Sole Risk Drilling wishes to participate in appraisal drilling or a development Programme relating to that Discovery, then in respect of any such Sole Risk Drilling:

Appears in 2 contracts

Samples: Joint Operating Agreement, Joint Operating Agreement

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Sole Risk Payments. 7.4.1 13.4.1 If Sole Risk Drilling carried out under Article 7.2.2(a)(i13.2.2(i)(a), (iib) or (iiic) (other than Sole Risk testing under Article 13.2.2(i)(c)) has made resulted in a particular Discovery particularly Discovery, or Sole Risk Drilling has been carried out under Article 7.2.2(a)(iv13.2.2(i)(d) in respect of a particular Discovery Discovery, and (in either such case) any Party which was a Non-Sole Risk Party in all or part of such Sole Risk Drilling wishes to participate in appraisal drilling drilling, geophysical work or a development Programme Program relating to that Discovery, then in respect of any such Sole Risk Drilling:

Appears in 1 contract

Samples: Joint Operating Agreement (I T Technology Inc)

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Sole Risk Payments. 7.4.1 8.4.1 If Sole Risk Drilling carried out under Article 7.2.2(a)(i8.2.2(i)(a), (iib) or (iiic) has made resulted in a particular Discovery or Sole Risk Drilling has been carried out under Article 7.2.2(a)(iv8.2.2(i)(d) in respect of a particular Discovery and any a Party which was a Non-Sole Risk Party in all or part of such shall have the obligation to compensate the Sole Risk Drilling wishes to participate in appraisal drilling or a development Programme relating to that DiscoveryParty (if more than one Non-Sole Risk Party and/or Sole Risk Party, then in respect of any such Sole Risk Drillingproportion to their respective Percentage Interests) amounts calculated on the following basis:

Appears in 1 contract

Samples: Agreement

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