Examples of Exploration Agreement in a sentence
Pursuant to the terms of the Exploration Agreement, Lasker agreed to identify and secure leases which would subsequently be assigned to Delta and pursuant to the terms of such agreement, Delta agreed to pay 100% of the lease acquisition costs and operating costs of up to three wells.
On March 3, 2009, the Company and Gold Fields Toodoggone Exploration Corporation (“Gold Fields”), a wholly owned subsidiary of Gold Fields Netherlands Services BV and a member of the Gold Fields Limited group of companies, signed an Option and Joint Venture Exploration Agreement.
In exchange for Bazmo’s performance under the Exploration Agreement, Bazmo obtained a 10% carried interest in all target wells, until payout in each of the wells.
On December 30, 2010, Delta entered into an agreement (the “HRI Assignment”) with the Company to assign 60% of all of Delta’s right, title and interest in and to the Exploration Agreement.
In exchange for Lasker’s performance under the Exploration Agreement, Lasker obtained a 10% carried interest in the first target well, Donner #1, and a 20% carried interest in the second and third target wells, Prospect 1 (Donner #2) and Prospect 2 (Donner #4), respectively, until payout in each of the wells.