First Renewal Exploration Period definition

First Renewal Exploration Period means the period for which the Exploration Licence issued to the Company has been renewed for the first time under section 34 of the Petroleum Act;
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First Renewal Exploration Period means the period for which the
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Examples of First Renewal Exploration Period in a sentence

  • Minimum exploration expenditure for the First Renewal Exploration Period: US$20 million.

  • The Company shall on the date on which this Agreement is signed and on the first day on which the First Renewal Exploration Period and the Second Renewal Exploration Period commence provide, in a form substantially similar to the form set out in Annexure 3, a bank guarantee in respect of the minimum expenditure referred to in clause 4.1 in respect of the Exploration Period in question.

  • The Company agreed with the Namibian Ministry of Mines and Energy to a 12 month extension of the Initial Exploration Period to December 2015, on the basis of an agreed work programme which entailed further interpretation work on existing seismic data.In December 2015, the Company entered into the First Renewal Exploration Period (Phase 2) of the Licence, making a mandatory relinquishment of 50% of the Licence Area.

  • Minimum exploration expenditure for the First Renewal Exploration Period: US$20 million (A$21.93 million).

  • Minimum exploration expenditure for the First Renewal Exploration Period: US$20 million (A$21.24 million).

  • In November 2017, the MME agreed an extension to the First Renewal Exploration Period of 12 months to 3 December 2018.

  • Annexes III, IV and VIII shall be amended in accordance with the regulatory procedure with scrutiny referred to in Article 33(2).

  • Further details of the CPR, can be found within the Company’s announcement of 15 January 2018 and the full report is located on the Company’s website.The Company successfully negotiated and agreed with the MME an extension of the First Renewal Exploration Period (Phase 2) of the Company’s Licence for a period of 12 months to 3 December 2018.

  • During each year of the Namibian Exploration Licence or any renewal thereof, Neptune Namibia must spend at least US$40,000 (in the Initial Exploration Period); US$60,000 (in the First Renewal Exploration Period); and US$100,000 (in the Second Renewal Exploration Period) for the purpose of the training and education of Namibians.

  • On 29 August 2017 the Company announced that it had elected not to enter into the First Renewal Exploration Period of the Southern Blocks offshore Namibia, causing an impairment of US$51.3 million.

Related to First Renewal Exploration Period

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Acquisition Period means the period ending five (5) business days prior to

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Initial Term has the meaning set forth in Section 7.1.

  • Renewal Period the period described in clause 13.1.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Operating Period for any Element of the Project shall mean the period from (and including) the COD of such Element of the Project, up to (and including) the Expiry Date and for the Project, shall mean the period from (and including) the COD of the Project, up to (and including) the Expiry Date;

  • Resolution Extension Period As defined in Section 2.03(b).

  • Option Period means the period during which an Option may be exercised.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Services Commencement Date means the date delivery of the Services shall commence as specified in the Key Provisions. If no date is specified in the Key Provisions this date shall be the Commencement Date;

  • asset renewal expenditure means expenditure on an existing asset or on replacing an existing asset that returns the service capability of the asset to its original capability

  • Renewal Term has the meaning set forth in Section 2.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Project Term the period from the Operation Commencement Date to the Expiry Date or the Termination Date, whichever occurs first, which is further described in Clause 3;

  • Period of Extended Hire means any additional period that the Hirer wishes the Agency Worker to be supplied for beyond the duration of the original Assignment or series of assignments as an alternative to paying a Transfer Fee;

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Post-Acquisition Period means, with respect to any Permitted Acquisition, the period beginning on the date such Permitted Acquisition is consummated and ending on the last day of the sixth full consecutive fiscal quarter immediately following the date on which such Permitted Acquisition is consummated.

  • Exploration Operations means any operations carried out for or in connection with the exploration for minerals, and includes -

  • Offering Commencement Date means the first day of each Offering Period.

  • Peak Period means the time between 6 a.m. and 10 p.m. (April through September) or between 7 a.m. and 11 p.m. (October through March) on all days except Saturdays and Sundays, which daily time period will be subject to change from time to time at the Company's option. This change would occur after no less than ten (10) days notice has been given to all Customers who would be affected, and to the Commission.

  • Start-up period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.