Exploratory Prospect definition

Exploratory Prospect means the geographic area and appropriate -------------------- spacing unit or units (including the entire spacing unit, in case that the Exploratory Prospect only partially covers a spacing unit) covering an SFD Anomaly identified by Pinnacle utilizing SFD Technology and accepted by CamWest pursuant to this Agreement, including any area of mutual interest lands as defined in Article XV of the Operating Agreement (as if the Exploratory Prospect were considered Joint Lands under the Operating Agreement).
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Exploratory Prospect means the geographic area and appropriate spacing units (including entire spacing units in the case of partial spacing units) covering an SFD Anomaly identified utilizing SFD Technology and qualified in accordance with the provisions of this Agreement;
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Examples of Exploratory Prospect in a sentence

  • Should Pinnacle elect to participate in the Obligations, and if the test well to be drilled upon the Exploratory Prospect is to be drilled on such Third Party Lands, the cost, risk and expense of the Obligations and the benefit and interest earned in the Third Party Lands subject to the Farmin Agreements shall be shared by the Parties in the following proportions: Encal 60% Pinnacle 40% The provisions of clause 19(d) apply mutatis mutandis to the event of non- payment by Pinnacle of the Obligations.

  • If CamWest, after reasonable efforts, cannot secure satisfactory Petroleum and Natural Gas Rights to an Exploratory Prospect then such Exploratory Prospect shall be deemed a "Key Tract" as evidenced by a written designation delivered by CamWest to Pinnacle.

  • Neither party makes any warranty or representation to the other as to the presence or economic viability of any hydrocarbons in any SFD Anomaly or Exploratory Prospect identified or developed pursuant to this agreement.

  • Similarly, after an Exploration Area or Exploratory Prospect has been established pursuant to this Agreement, Pinnacle may not conduct an SFD Survey within such area or prospect for any Third Party.

  • Unless otherwise agreed by the Parties and as between the Parties, all operations on an Exploratory Prospect in which Pinnacle has a Working Interest (i) shall be done pursuant to and (ii) the rights and obligations (to the extent not inconsistent with the terms and conditions of this Agreement) of the Parties shall be governed by the operating agreement, together with the exhibits attached thereto, attached hereto as Exhibit D, (the "Operating --------- Agreement").

  • Pinnacle shall convey to Encal any working interest in the entire Exploratory Prospect and Encal shall re-imburse Pinnacle any land acquisition costs previously paid by Pinnacle.

  • If CamWest cannot secure satisfactory Petroleum and Natural Gas Rights to the Key Tract within two years from the date the Exploratory Prospect is designated a Key Tract, such Exploratory Prospect shall become a Rejected Anomaly, and the rights with respect to such Rejected Anomaly shall be governed by Section 11 of this Agreement.

  • Once the first test well is spudded on an Exploratory Prospect or an Exploratory Prospect is rejected by Encal, such Exploratory Prospects shall no longer be included in the Minimum Prospect Inventory.

  • CamWest shall make assignments to Pinnacle on an Exploratory Prospect by Exploratory Prospect basis and with respect to each Exploratory Prospect on or before the date when CamWest commences drilling of the first test well.

  • The Parties agree that any (i) test well information and (ii) conventional oil and gas industry evaluation and analysis data not assigned to Newco shall be the property of CamWest; provided, however, -------- ------- that if Pinnacle elects to acquire a Working Interest in an Exploratory Prospect, such information and data relating to such Exploratory Prospect shall be jointly owned by the Parties.

Related to Exploratory Prospect

  • Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Development means the division of a parcel of land into two or more parcels, the construction, reconstruction, conversion, structural alteration, relocation or enlarge- enlargement of any building or structure, any mining excavation or landfill, and any use or change in the use of any building or other structure, or land or extension of use of land, for which permission is required under the Municipal Land Use Law, N.J.S.A. 40:55D-1 et seq.

  • Developments means all data, discoveries, findings, reports, designs, inventions, improvements, methods, practices, techniques, developments, programs, concepts and ideas, whether or not patentable, relating to the present or planned activities, or the products and services of the Company.

  • Development Data means all non-clinical, clinical, technical, chemical, safety, and scientific data and information and other results, including relevant laboratory notebook information, screening data, and synthesis schemes, including descriptions in any form, data and other information, in each case, that is generated by or resulting from or in connection with the conduct of Development of Products, to the extent that the same are Controlled by or in Adapt’s or its Affiliates’ or Adapt’s Commercial Sublicensees’ possession, and may be disclosed to Lightlake without violating any obligation under Applicable Law.

  • Representative of a prospective contractor means an officer or director of a corporation, a member or manager of a limited liability corporation, a partner of a partnership or a trustee of a trust of the prospective contractor.

  • Research means a methodical investigation into a subject.

  • Feasibility Study means the evaluation and analysis of the potential of a project, which aims at supporting the process of decision-making by objectively and rationally uncovering its strengths and weaknesses, opportunities and threats, as well as identifying the resources required to carry it through and ultimately its prospects for success;

  • Development Report means a written account of Licensee’s progress under the Development Plan having at least the information specified on Appendix B to this Agreement, and shall be sent to the address specified on Appendix B.

  • Exploration means all activities directed toward ascertaining the existence, location, quantity, quality or commercial value of deposits of Products.

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Collaboration Compound means any of the following: (a) FG-4592, (b) any HIF Compound (other than FG-4592) that is added to this Agreement pursuant to Section 3.6, and (c) any salts, esters, complexes, chelates, crystalline and amorphous morphic forms, pegylated forms, enantiomers (excluding regioisomers), prodrugs, solvates, metabolites and catabolites of any of the foregoing ((a) or (b)).

  • Planned unit development means a subdivision characterized by a unified site design, clustered residential units and/or commercial units, and areas of common open space.

  • Subsurface tracer study means the release of a substance tagged with radioactive material for the purpose of tracing the movement or position of the tagged substance in the well-bore or adjacent formation.

  • Development Permit means a document authorizing a development issued pursuant to this Land Use Bylaw;

  • Development rights means any right or combination of rights reserved by a declarant in the declaration to:

  • Proved Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves”, (b) “Developed Non-Producing Reserves” or (c) “Undeveloped Reserves”.

  • Studies means activities needed to prepare project implementation, such as preparatory, mapping, feasibility, evaluation, testing and validation studies, including in the form of software, and any other technical support measure, including prior action to define and develop a project and decide on its financing, such as reconnaissance of the sites concerned and preparation of the financial package;

  • Collaboration Know-How means all Know-How conceived, discovered, developed or otherwise made by or on behalf of a particular Party or any of its Affiliates or permitted subcontractors of any of the foregoing (solely or jointly by or on behalf of a particular Party or any of its Affiliates or permitted subcontractors of any of the foregoing) in the course of [***].

  • Oil and gas means petroleum, natural gas and other related hydrocarbons or minerals or any of them and all other substances produced or extracted in association therewith.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Development Area means that area to which a development plan is applicable.

  • Low Impact Development or “LID” means a site design strategy that maintains, mimics or replicates pre- development hydrology through the use of numerous site design principles and small-scale treatment practices distributed throughout a site to manage runoff volume and water quality at the source.

  • Reservoir means a water impoundment project operated by the United States Army Corps of Engineers that is intended to retain water or delay the runoff of water in a designated surface area of land.

  • Cluster development means a subdivision with lots clustered in a group of five or more lots that is

  • hit means the existence of a match or matches established by the Central System by comparison between biometric […] data recorded in the computerised central database and those transmitted by a Member State with regard to a person, without prejudice to the requirement that Member States shall immediately check the results of the comparison pursuant to Article 26(4);

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.