Common use of TIMELY OPERATIONS Clause in Contracts

TIMELY OPERATIONS. LLOG will diligently and timely move forward in securing a rig(s) necessary to drill the Prospects as soon as possible. LLOG commits to Ridgewood to spud the first Prospect on or before February 1, 2007. LLOG further commits to Ridgewood to having commenced operations on each of the six (6) Prospects by December 31, 2007, subject only to rig availability and obtaining the required permits. However, LLOG's commitment to drill and evaluate drill and evaluate West Delta 67 is contingent of the results of the ITW on the adjacent West Delta Block 68. The Parties will confer immediately upon obtaining the results of the West Delta Block 68 ITW to make that determination. LLOG shall not be liable to Ridgewood or sufer any penalties for failure to spud any Prospect after December 31, 2007.

TIMELY OPERATIONS. LLOG will diligently and timely move forward in securing a rig(s) necessary to drill the Prospects as soon as possible. LLOG commits to Ridgewood to spud the first Prospect on or before February 1, 2007. LLOG further commits to Ridgewood to having commenced operations on each of the six (6) Prospects by December 31, 2007, subject only to rig availability and obtaining the required permits. However, LLOG's commitment to drill and evaluate drill and evaluate West Delta 67 is contingent of the results of the ITW on the adjacent West Delta Block 68. The Parties will confer immediately upon obtaining the results of the West Delta Block 68 ITW to make that determination. LLOG shall not be liable to Ridgewood or sufer suffer any penalties for failure to spud any Prospect after December 31, 2007.