Farmout Lands definition

Farmout Lands means the lands set forth and described in Schedule "A" hereto;

Farmout Lands means the lands shown under the heading “Farmout Lands” in Schedule ”A” to the Farmout Agreement, provided that the “Farmout Lands” shall not include the 6.5 Section Block (as defined in the Farmout Agreement) unless or until Deep Well or Northern acquire a legal or beneficial interest in the Title Documents (as defined in the Farmout Agreement) that comprise the 6.5 Section Block;

Farmout Lands means the areal, stratigraphic and substance rights described as “Farmout Lands” in Schedule “A” of the Agreement or so much of those rights as remain subject to the Agreement and the Title Documents, excluding any Reserved Formations;

Examples of Farmout Lands in a sentence

• If the interest of either party in the Farmout Lands hereafter shall become encumbered by any royalty, production payment or other charge of a similar nature, other than the royalties as set forth under the Farmout Agreement, such royalty, production payment or other charge shall be charged to and paid entirely by the party whose interest is or becomes thus encumbered.

• Upon fulfillment of the drilling commitments in Phase 2, Aera will earn a 50% interest in approximately 9,800 acres of the Farmout Lands.

• During the term of this Agreement, no party shall do or cause to be done any act nor make or cause to be made any omission whereby the Farmout Lands or Option Lands become encumbered in such a way as to adversely affect the interests of the other parties, or become subject to termination or forfeiture.

• An area of mutual interest (AMI) shall be established to comprise all lands within one mile of the Farmout Lands and shall terminate one year after rig release of the Test Well drilled hereunder or one year from termination of this Agreement, whichever is the shorter.

• Upon fulfillment of the drilling commitments in Phase 1, Aera will earn a 50% interest in approximately 9,800 acres of the Farmout Lands.

More Definitions of Farmout Lands

Farmout Lands means the lands identified on Schedule “A” hereto as “Farmout Lands”

Farmout Lands means the Farmor's net interest in and to the minerals owned by Farmor which are set forth in Exhibit "A" attached hereto and made a part hereof which may be amended or modified from time to time hereafter by mutual agreement in writing exclusively. Farmout lands shall be subject to modification and adjustments based upon GPS survey and future agreements of the parties.

Farmout Lands means the lands and rights described on Schedule "A" hereto in which Farmee may earn an interest pursuant to this Agreement;

Farmout Lands means Farmor’s working interest in all Petroleum and Natural Gas Rights in the lands as described in Schedule “A” attached hereto;

Farmout Lands means the Farmor leaseholding net interest in and to the mineral leases set forth in Exhibit A attached hereto and made a part hereof.

Farmout Lands means those oil and gas leased lands including the zones and formations within, upon or under the lands set forth in the Operating Agreement;

Farmout Lands means the lands set forth and described in the Farmout Agreement;