Langsa TAC definition

Langsa TAC means the East Aceh Offshore - Langsa (EAO-Langsa) Technical Assistance Contract dated 15th of May, 1997.
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Examples of Langsa TAC in a sentence

  • SUBSEQUENT EVENTSLangsa TacIn May of 2017, the Company’s license for the Langsa TAC block expired and was not renewed by the government, consequently, the Company has ceased production of oil.Bukit EnergyBow closed corporate acquisitions, on May 24, 2017, resulting in Bow acquiring interests in four Production Sharing Contracts (“PSCs”) and one non-conventional joint study agreement (“JSA”), all interests are located onshore in Sumatra, Indonesia.

  • It is located in the northern end of the reservoir, outside of the area that could be drained by the H-4 well prior to the expiration of the Langsa TAC.

  • The BSL shares will be acquired through the issuance of shares of the Company at a price based upon the valuation of the additional Langsa TAC interests as determined in the Company independent reserves evaluation report being prepared by McDaniel & Associates Consultants Ltd., as previously announced.

  • On the date of the Transaction, IFRS 1 was applied to the assets and liabilities of Langsa TAC resulting in a fair value determination of oil and gas properties and equity to be $10,925,700 determined using internal estimates as well as independent reserve evaluation using proved and probable reserves discounted at 12%.

  • However, the Company’s consolidated financial statements were not presented as a continuation of Langsa TAC because the Company was not a business at the time of the acquisition, this transaction relates to the acquisition of joint control rather than control and the joint operation did not exist prior to the acquisition.Joint arrangementsJudgment is required to determine when the Company has joint control over an arrangement.

  • Fulucai retains an option to relinquish its rights, interests and obligations in Langsa TAC by notifying BSL in writing.

  • Therefore, the Transaction has been accounted for as a continuation of Langsa TAC from the date of the acquisition whereby the shares issued to effect the Transaction are issued for the net assets of BOW, resulting in a public company listing expense of $957,272.

  • On the closing date the following shall take place: · Fulucai shall wire $918,568 to BSL; · BSL shall send a copy of the MOU to Pertamina; · BSL shall execute an assignment for 15% of Langsa TAC.

  • As of the Effective date, Fulucai shall receive its 15% of production income and pay its 15% of the operating and overhead costs for Langsa TAC operations including FPSO charter costs and direct fuel costs.

  • The substance of the Transaction is a reverse take-over (“RTO”) of BOW by the nominees of BSL with Langsa TAC deemed to be the accounting acquirer.The Langsa TAC meets the definition of a business under IFRS but it is not a legal entity.

Related to Langsa TAC

  • Leasehold Interests means all of each Loan Party’s right, title and interest in and to, and as lessee of, the premises identified as leased Real Property on Schedule 4.4 hereto.

  • Leaseholds of any Person shall mean all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Subject Lands means the lands subject to or covered by the oil and gas leases described in Exhibit A, insofar and only insofar as they cover the Target Formation, subject to the exceptions, exclusions and reservations set forth on such Exhibit A.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Forest land means all land which is capable of supporting a merchantable stand of timber and is not being actively used for a use which is incompatible with timber growing. Forest land does not include agricultural land that is or was enrolled in the conservation reserve enhancement program by contract if such agricultural land was historically used for agricultural purposes and the landowner intends to continue to use the land for agricultural purposes in the future. For small forest landowner road maintenance and abandonment planning only, the term "forest land" excludes the following:

  • Crown lands has the same meaning as is given to that term by the Land Act;

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Transferred Property shall have the meaning specified in Section 2.1(a) hereof.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Leasehold Estate means Borrower’s interest in the Land and any other real property leased by Borrower pursuant to the Ground Lease, if applicable, including all of the following:

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements (including any series of related leases with the same lessor) under which a Person leases, subleases or licenses or otherwise acquires or obtains rights to produce Hydrocarbons from real property interests.

  • Mineral means gas, oil, and coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clays; steam and other geothermal resources; and any other substance defined as a mineral by a law of this state.

  • Subject Interests means Assignor’s undivided interests in the Subject Lands, as determined prior to giving effect to this Conveyance (or as may be made part of the Subject Interests pursuant to Section 3.1 or 3.2 of the Development Agreement), whether as lessee under leases, as an owner of the Subject Minerals (or the right to extract such Minerals) or otherwise, by virtue of which undivided interests Assignor has the right to conduct exploration, drilling, development and Mineral production operations on the Subject Lands, or to cause such operations to be conducted, or to participate in such operations by paying and bearing all or any part of the costs, risks and liabilities of such operations, to drill, test, complete, equip, operate and produce xxxxx to exploit the Minerals. The “Subject Interests” (a) may be owned by Assignor pursuant to leases, deeds, operating, pooling or unitization agreements, orders or any other instruments, agreements or documents, recorded or unrecorded, (b) include any and all extensions or renewals of leases covering the Subject Lands (or any portion thereof) obtained by Assignor, or any Affiliate thereof, within six (6) months after the expiration or termination of any such lease, and (c) are subject to the Permitted Encumbrances. For the avoidance of doubt, the “Subject Interests” do not include: (i) Assignor’s interests in the Excluded Assets; (ii) Assignor’s rights to substances other than Minerals; (iii) Assignor’s rights to Minerals (other than Assignee Minerals) under contracts for the purchase, sale, transportation, storage, processing or other handling or disposition of Minerals; (iv) Assignor’s interests in, or rights to Minerals (other than Assignee Minerals) held in pipelines, gathering systems, storage facilities, processing facilities or other equipment or facilities, other than Development Xxxxx; or (v) any additional or enlarged interests in the Development Xxxxx, Subject Lands or Subject Minerals acquired by Assignor after the Closing Time, except (1) to the extent any such additional or enlarged interest becomes a part of the Subject Interests by amendment to this Conveyance pursuant to Section 3.1 or 3.2 of the Development Agreement, (2) as may result from the operation of the terms of the instruments creating the Subject Interests, or (3) as may be reflected in extensions and renewals covered by the preceding sentence.

  • Tribal lands means all lands within the exterior boundaries of any Indian reservation and all dependent Indian communities.

  • Leaseholder means a grantee or a person or other legal entity holding a valid lease or licence of occupation with the federal Crown for the use or occupation of land in Jasper National Park, and shall mean Canadian National Railway in respect of lots or land parcels held by Canadian National Railway, and shall mean Jasper National Park of Canada in respect to lots or land parcels held by the Crown;

  • Owned Property has the meaning set forth in Section 4.10(a).

  • Transition Property means the property right created by a financing order, including without

  • Subject Leases means, for any Asset Review, all 20[•]-[•] Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Crown land means land in which there is a Crown interest or a Duchy interest;

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Non-Public Works and Improvements means all competitively solicited procurement of Supplies and/or Services by the City not solicited as Public Works.

  • Excluded Personal Property means the following:

  • Assisted cleaning or washing of tangible personal property means cleaning or washing of tangible personal property if the cleaning or washing labor is primarily performed by an individual:

  • Lands means the purchase of real property or interest in real property.