ES Production definition
ES Production means Eagle Springs Production Limited Liability Company, a Nevada limited liability company and a wholly owned subsidiary of Foreland. "Exchange Act" means the Securities Exchange Act of 1934, as amended, and the regulations promulgated thereunder. "Exercise Date" means the date of exercise of the Option granted pursuant to this Agreement as set forth in Section 2.04. "Exercise Period" has the meaning set forth in Section 2.03. "Exercise Period Quarter" means the successive calendar quarters ending on March 15, June 15, September 15, and December 15, 1998. "Foreland Stock" means shares of common stock of Foreland, par value $0.001 per share. "GAAP" means generally accepted accounting principles, consistently applied. "Option Consideration" has the meaning set forth in Section 2.02. "Option Period" means the period starting with the date of this Agreement and ending at 11:59 p.m., Mountain Time, December 31, 1998, or at the end of any Exercise Period Quarter with respect to which Foreland has not fulfilled its obligations as set forth in Article II. "Option Shares" has the meaning set forth in Section 2.02. "PSC Exhibits" means the documents describing in detail the items more generally described in Article III. "PSC Schedules" means the disclosures as set forth in Section 2.07. "Purchase Price" has the meaning set forth in Section 3.05. "Refining" means Foreland Refining Corporation, a corporation to be organized by, and as a subsidiary of, Foreland for the purpose of purchasing the Business and Business Assets. "Registration Statement" means a registration statement filed under the provisions of the Securities Act as provided in Section 2.02. "SEC" means the Securities and Exchange Commission. "Securities Act" means the Securities Act of 1933, as amended, and the regulations promulgated thereunder. "Shares" means either or both the Option Shares or Purchase Shares, as the case may be. ARTICLE II OPTION TO PURCHASE Section 2.01
ES Production means Eagle Springs Production Limited Liability Company, a Nevada limited liability company and a wholly owned subsidiary of Foreland.