Common use of Transfer Procedure for the Joint Account Clause in Contracts

Transfer Procedure for the Joint Account. 9.1 When the Exploration Operations are successful and the Contract Area enters the development period, the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Operations. The gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of inventory for all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 of the Contract, when the organization established by the joint operating agreement takes over and becomes the Operator of all the said CBM Fields within the Contract Area, the former Operator shall transfer all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBM. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessary.

Transfer Procedure for the Joint Account. 9.1 When If, at the Exploration Operations are successful and expiration of the Contract Area enters pilot test period, the Contractor opts to enter into development period, or when the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Oil Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Petroleum Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Petroleum Operations. The , the gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of an inventory for to all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 8.9 of the Contract, when the organization established by the joint operating agreement takes over and CNPC becomes the Operator of all the said CBM Fields Oil Field within the Contract Area, the former Operator shall transfer to CNPC all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM CNPC for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBMCNPC. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs . Article 1 General Provisions Article 2 Employment of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period Chinese Personnel Article 3 Salaries and provide them with duplicates, if necessary.Wages of Personnel Article 4 Other Expenses Article 5 Settlement of Personnel Costs

Transfer Procedure for the Joint Account. 9.1 When If, at the Exploration Operations are successful and expiration of the Contract Area enters pilot test period, the Contractor opts to enter into development period, or when the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Oil Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Petroleum Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Petroleum Operations. The , the gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of an inventory for to all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 8.9 of the Contract, when the organization established by the joint operating agreement takes over and CNPC becomes the Operator of all the said CBM Fields Oil Field within the Contract Area, the former Operator shall transfer to CNPC all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM CNPC for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBMCNPC. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessary.

Transfer Procedure for the Joint Account. 9.1 When If, at the Exploration Operations are successful and expiration of the Contract Area enters the development Pilot Test period, the Operator shall conduct an inventory and check of all Parties opt to enter into Development period, or when the properties and accounts for CUCBM. When each CBM Field oil field within the Contract Area goes from development Development into productionProduction, or when the Contractor terminates Parties terminate the Petroleum Contract, an inventory and check of all properties and accounts shall be conducted. If the Petroleum Contract Area has entered into the development Development period or the production Production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to the Operating Committee and JMC for its approval listing the remaining equipment and Materials needed for the CBM Petroleum Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Petroleum Operations. The , the gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Petroleum Contract terminates, the method of an inventory for to all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party Parties in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 8.9 of the Petroleum Contract, when the organization established by the joint operating agreement takes over and CNPC becomes the Operator of all the said CBM Fields oil fields within the Contract Area, the former Operator shall transfer to CNPC all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Petroleum Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM CNPC for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator Parties and CUCBMCNPC. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessaryCNPC.

Transfer Procedure for the Joint Account. 9.1 When the Exploration Operations are successful and the Contract Area enters the development period, the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Operations. The , the gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of an inventory for to all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 8.7 of the Contract, when the organization established by the joint operating agreement takes over and Joint Operators Group (JOG) pursuant to Article 8. 8.1 herein becomes the Operator of all the said CBM Fields within the Contract Area, the former Operator shall transfer to JOG all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBM. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessary.. Annex III Personnel Costs

Transfer Procedure for the Joint Account. 9.1 When the Exploration Operations are successful and the Contract Area enters the development period, the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Operations. The , the gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of an inventory for to all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 8.7 of the Contract, when the organization established by the joint operating agreement takes over and Joint Operators Group (JOG) pursuant to Article 8.8.1 herein becomes the Operator of all the said CBM Fields within the Contract Area, the former Operator shall transfer to JOG all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBM. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessary.

Transfer Procedure for the Joint Account. 9.1 When the Exploration Operations are successful and the Contract Area enters the development period, the Operator shall conduct an inventory and check of all the properties and accounts for CUCBM. When each CBM Field within the Contract Area goes from development into production, or when the Contractor terminates the Contract, an inventory and check of all properties and accounts shall be conducted. <PAGE> If the Contract Area has entered into the development period or the production period, the Operator (after taking an inventory of all properties taken by all Investing Parties) shall make a proposal to JMC for its approval listing the remaining equipment and Materials needed for the CBM Operations for the following period and which shall be carried forward to the next period in book values in the Joint Account. The Operator shall be responsible for the disposal of the equipment and materials not needed for the CBM Operations. The gains or losses derived from such disposal shall be allocated in accordance with the share of each Investing Party in proportion to the overall investment amount of all Investing Parties and be adjusted against the original accounts. If the Contract terminates, the method of inventory for all of the remaining equipment and Materials shall be the same as mentioned above, and the gains and losses derived from such disposal shall be adjusted against the accounts of the original Investing Party in accordance with the above mentioned methods. 9.2 In accordance with the provisions of Article 8.8 of the Contract, when the organization established by the joint operating agreement takes over and becomes the Operator of all the said CBM Fields within the Contract Area, the former Operator shall transfer all of the Accounting Records relating to the Joint Account. 9.3 Upon the termination of the Contract, the Operator shall transfer all the relevant vouchers, books and statements over to CUCBM for custody. 9.4 In conducting the transfer of the accounting books and inventory and check of all the properties in accordance with the provisions of this Accounting Procedure, the implementation procedure for the transfer and verification, the accounting files to be transferred and accounting matters to be settled as well as other details shall be agreed upon through consultation in advance between the Operator and CUCBM. The transfer procedure shall be completed within the time period agreed upon by the Parties. Thereafter, owing to the needs of any Investing Party to the Contract, CUCBM shall allow that Party's staff access to the Accounting Records within the relevant Accounting Records custody period and provide them with duplicates, if necessary.