APPRAISAL PERIMETER definition
APPRAISAL PERIMETER means any portion of the Delimited Region where one of the Hydrocarbons discoveries has been made the size of which shall be evaluated, for which the Government has granted the Contractor an exclusive appraisal permit in accordance with the provisions of article 11.3.
APPRAISAL PERIMETER means any portion of the Delimited Region where one of the Hydrocarbons discoveries has been made the size of which shall be evaluated, for which the Government has granted the Contractor an exclusive appraisal permit in accordance with the provisions of article 11.3. 1.29. PRODUCTION PERIMETER means any portion of the Delimited Region for which the Government has granted the Contractor an exclusive production permit in accordance with the provisions of article 12. 1.30. CRUDE OIL means crude mineral oil, asphalt, ozokerite and all sorts of Hydrocarbons and bitumens, either solid or liquid, in their natural state or obtained from Natural Gas by condensation or extraction, including condensate and liquid Natural Gas. 1.31. CUBIC FOOT means the quantity of Natural Gas contained in a volume of one (1) cubic foot measured at a temperature of 60° F and at an atmospheric pressure of 14.696 p.s.i.a. 1.32. ABANDONMENT PLAN has the meaning attributed to it in article 20.7. 1.33 POINT OF DELIVERY OF NATURAL GAS means a point of transfer agreed upon by the Parties at the time the development and production plan is submitted.
APPRAISAL PERIMETER means any part of the Delimited Area where one or more Petroleum discoveries have been made, and in respect of which NOCAL has granted to the Contractor an exclusive appraisal authorization for the purpose of determining the extent and value of said discoveries. Arm’s Length means the relationship that exists between two (2) or more entities which are not Affiliates or Controlled by related parties, where neither of such entities exerts or is in a position to exert significant influence on any of the other entities having regard to all relevant factors. Associated Natural Gas means Natural Gas which exists in a reservoir in solution with Crude Oil or which is or could be produced in association with Crude Oil. Barrel means a U.S. barrel of 42 U.S. gallons measured at a temperature of 60° Fahrenheit and 1 atmosphere of pressure (14.696 pounds per square inch absolute). ▇▇▇▇▇ ▇▇-▇▇ means the area offshore Liberia of approximately 2,540 square kilometers, as more specifically defined in Annex I (which area has already been adjusted to reduce the delimited area of the Original Contract by the surrender following the first exploration period).