Common use of TERM AND EXPLORATION WORK PROGRAMME Clause in Contracts

TERM AND EXPLORATION WORK PROGRAMME. 3.1 The following provisions establish the term (the "Term") of this Agreement, the Licence and any Lease that is granted pursuant to this Agreement in accordance with the Rules: (a) this Agreement and the Licence shall be valid for an Initial Term of five (5) Contract Years, and subject to Article 3.1(b) and Contractor meeting the requirements under this Agreement and the Rules, shall be renewed, for two (2) renewal periods of one Contract Year each (hereinafter called the First Renewal and the Second Renewal respectively or Renewal(s) collectively) provided Contractor requests such a renewal in writing at least ninety (90) Days prior to expiry of the Initial Term or the First Renewal period. The Initial Term shall be divided into two phases (each referred to as a "Phase"), the first having a duration of three Contract Years and the second having a duration of two Contract Years. (b) Contractor shall be entitled to First Renewal or Second Renewal if Contractor: (i) has complied with the Minimum Work during the Initial Term or First Renewal as the case may be, and all other obligations under this Agreement; (ii) has committed himself to the Minimum Work for the subsequent period as per the Rules; (iii) has provided the related guarantees contemplated by Article XXVI of this Agreement; and (iv) has made the mandatory relinquishments contemplated by this Agreement and the Rules. (c) this Agreement and the Licence may be extended as it relates to an Appraisal Area for the purpose of carrying out an Appraisal Programme for a period of one (1) Contract Year as provided in the Rules provided the Contractor has complied with the Minimum Work and other obligations under this Agreement. (d) the Initial Term or First Renewal or Second Renewal may be extended for drilling an Exploration Well in progress for a period as may be approved by the DGPC, in accordance with the Rules. Upon completion of such Exploration Well, credit will be given to the Minimum Work obligation related to the Phase or Renewal that was extended. (e) pursuant to Article 5.9 hereof, the duration of this Agreement and the Licence for any Significant Gas Discovery Area shall be extended up to a period equal to the applicable Retention Period. (f) if a Commercial Discovery is made during the Initial Term, First Renewal, Second Renewal or the extension contemplated under Article 3.1(c) for which a Lease has been granted, this Agreement shall remain valid for a period not exceeding twenty-five (25) Contract Years with effect from the date of grant of such Lease provided the duration of this Agreement shall, in accordance with the Rules, be extended by a period equal to the Retention Period, if applicable, in respect of any part of Contract Area which has been declared a Significant Gas Discovery Area. (g) this Agreement, the Licence and any Lease granted pursuant to this Agreement are subject to earlier termination pursuant to Article VII and in accordance with the provisions of the Rules. 3.2 At the expiry of the Term, this Agreement and any Lease may be renewed for a further five (5) Contract Years as per the Rules. 3.3 The minimum work (the "Minimum Work") to be carried out shall be as follows:

TERM AND EXPLORATION WORK PROGRAMME. 3.1 The following provisions establish the term (the "Term") of this Agreement, the Licence and any Lease that is granted pursuant to this Agreement in accordance with the Rules: (a) this This Agreement and the Licence shall be valid for an Initial Term of five (5) Contract Years, and subject to Article 3.1(b) and Contractor meeting the requirements under this Agreement and the Rules, shall be renewed, for two (2) renewal periods of one two Contract Year Years each (hereinafter called the First Renewal and the Second Renewal respectively or Renewal(s) collectively) provided Contractor requests such a renewal in writing at least ninety (90) Days prior to expiry of the Initial Term or the First Renewal period. The Initial Term shall be divided into two three phases (each referred to as a "Phase"), the first having a duration of three Contract Years and the second two having a duration of two Contract YearsYears and the third having a duration of one Contract Year. (b) Contractor shall be entitled to First Renewal or Second Renewal if Contractor: (i) has complied with the Minimum Work during the Initial Term or First Renewal as the case may be, and all other obligations under this Agreement; (ii) has committed himself to the Minimum Work for the subsequent period as per the Rules; (iii) has provided the related guarantees contemplated by Article XXVI 26 of this Agreement; and (iv) has made the mandatory relinquishments contemplated by this Agreement and the Rules. (c) this This Agreement and the Licence may be extended as it relates to an Appraisal Area for the purpose of carrying out an Appraisal Programme for a period of one two (12) Contract Year as Years provided in Contractor has committed to the Rules provided the Contractor drilling of at least one Appraisal Well and has complied with the Minimum Work and other obligations under this Agreement. (d) the The Initial Term or First Renewal or Second Renewal may be extended for drilling an Exploration Well in progress for a period not exceeding one hundred and eighty (180) Days, which shall be considered to be part of the Initial Term, First Renewal or Second Renewal, as the case may be approved and any subsequent Phase or Renewal, where applicable, shall be reduced by the DGPC, in accordance with the Rulesperiod of time of any such extension. Upon completion of such Exploration Well, credit will be given to the Minimum Work obligation related to the Phase or Renewal that was extended. (e) pursuant Pursuant to Article 5.9 hereof, the duration of this Agreement and the Licence for any Significant Gas Discovery Area shall be extended up to a period equal to the applicable Retention Period. (f) if If a Commercial Discovery is made during the Initial Term, First Renewal, Second Renewal or the extension contemplated under Article 3.1(c) for which a Lease has been granted, this Agreement shall remain valid for a period not exceeding twenty-five (25) Contract Years with effect from the date of grant of such Lease provided the duration of this Agreement shall, in accordance with the Rules, be extended by a period equal to the Retention Period, if applicable, in respect of any part of Contract Area which has been declared a Significant Gas Discovery Area. (g) this This Agreement, the Licence and any Lease granted pursuant to this Agreement are subject to earlier termination pursuant to Article VII and in accordance with the provisions of the Rules. 3.2 At the expiry of the Term, this Agreement and any Lease may be renewed for a further five (5) Contract Years as per the RulesRules provided: (a) Commercial Production from the Contract Area is continuing; and (b) Contractor agrees to the new terms and other conditions as per the Rules in effect at that time. 3.3 The minimum work (the "Minimum Work") to be carried out shall be as follows:

TERM AND EXPLORATION WORK PROGRAMME. 3.1 The following provisions establish the term (the "Term") of this Agreement, the Licence and any Lease that is granted pursuant to this Agreement in accordance with the Rules: (a) this This Agreement and the Licence shall be valid for an Initial Term of five (5) Contract Years, and subject to Article 3.1(b) and Contractor meeting the requirements under this Agreement and the Rules, shall be renewed, for two (2) renewal periods of one two Contract Year Years each (hereinafter called the First Renewal and the Second Renewal respectively or Renewal(s) collectively) provided Contractor requests such a renewal in writing at least ninety (90) Days prior to expiry of the Initial Term or the First Renewal period. The Initial Term shall be divided into two three phases (each referred to as a "Phase"), the first having a duration of three Contract Years and the second two having a duration of two Contract YearsYears and the third having a duration of one Contract Year. (b) Contractor shall be entitled to First Renewal or Second Renewal if Contractor: (i) has complied with the Minimum Work during the Initial Term or First Renewal as the case may be, and all other obligations under this Agreement; (ii) has committed himself to the Minimum Work for the subsequent period as per the Rules; (iii) has provided the related guarantees contemplated by Article XXVI 26 of this Agreement; and (iv) has made the mandatory relinquishments contemplated by this Agreement and the Rules. (c) this This Agreement and the Licence may be extended as it relates Twenty- two points, plus triple-word-score, plus fifty points for using all my letters. Game's over. I'm outta here. to an Appraisal Area for the purpose of carrying out an Appraisal Programme for a period of one two (12) Contract Year as Years provided in Contractor has committed to the Rules provided the Contractor drilling of at least one Appraisal Well and has complied with the Minimum Work and other obligations under this Agreement. (d) the The Initial Term or First Renewal or Second Renewal may be extended for drilling an Exploration Well in progress for a period not exceeding one hundred and eighty (180) Days, which shall be considered to be part of the Initial Term, First Renewal or Second Renewal, as the case may be approved and any subsequent Phase or Renewal, where applicable, shall be reduced by the DGPC, in accordance with the Rulesperiod of time of any such extension. Upon completion of such Exploration Well, credit will be given to the Minimum Work obligation related to the Phase or Renewal that was extended. (e) pursuant Pursuant to Article 5.9 hereof, the duration of this Agreement and the Licence for any Significant Gas Discovery Area shall be extended up to a period equal to the applicable Retention Period. (f) if If a Commercial Discovery is made during the Initial Term, First Renewal, Second Renewal or the extension contemplated under Article 3.1(c) for which a Lease has been granted, this Agreement shall remain valid for a period not exceeding twentythirty-five three (2533) Contract Years with effect from the date of grant of such Lease Effective Date provided the duration of this Agreement shall, in accordance with the Rules, be extended by a period equal to the Retention Period, if applicable, in respect of any part of Contract Area which has been declared a Significant Gas Discovery Area. (g) this This Agreement, the Licence and any Lease granted pursuant to this Agreement are subject to earlier termination pursuant to Article VII and in accordance with the provisions of the Rules. 3.2 At the expiry of the Term, this Agreement and any Lease may be renewed for a further five (5) Contract Years as per the RulesRules provided: (a) Commercial Production from the Contract Area is continuing; and (b) Contractor agrees to the new terms and other conditions as per the Rules in effect at that time. 3.3 The minimum work (the "Minimum Work") to be carried out shall be as follows: