Exploration Program. (a) Kalimas agrees to begin the Exploration Program on the Concession by March/April 1997 or at a time mutually agreed between the Parties:______________.
Exploration Program. The Optionees agree under the terms of this Agreement to fund a $3,000,000 Exploration Program upon the Property within the first forty-eight (48) month period following the Closing, in accordance with the time line set out in Section 4.2(c) above, through a prepared mining exploration and development work program. The Operator shall carry out the Exploration Program in respect of the Property during the forty-eight (48) month period following the Closing, and shall submit to Mexivada a draft of an initial phase of the Exploration Program for review within thirty (30) days of the Closing.
Exploration Program. The activities included in the minimum exploration program established in the Terms of Reference and those related to the additional investment presented by THE EVALUATOR in its proposal to be carried out in the Technical Evaluation Area.
Exploration Program. THE EVALUATOR has the obligation to carry out the Technical Evaluation Program described in Annex C, at its own cost and risk, within the term of this contract, according to Clause 2.5 of this Annex. In the performance of the Technical Evaluation Operations THE EVALUATOR must make sure that the drilling of the stratigraphic xxxxx meets the scope established in the definitions chapter of this contract.
Exploration Program. Subject to and in accordance with this Agreement and Schedule “B”, at least 60 days before each date for which Expenditures must be incurred pursuant to Section 3.4, Avalanche shall submit to Opes a complete exploration program (“Exploration Program”) to be carried out in that calendar year. Opes shall pay to Avalanche, by certified cheque, the amounts of the Expenditures to be incurred on or before the dates set out in Section 3.4 for application by Avalanche as agent for Opes in accordance with Section 3.6 to the exploration and development program on the Property set out in the Exploration Program. Exhibit 10.4 - 9
Exploration Program. (a) During the first two (2) years following the Effective Date, Purchaser shall fund no less than $15,000,000 of Exploration Expenses in respect of the Exploration Program for the Silvertip Project, which Exploration Program shall be mutually agreed upon by Purchaser and the Vendors’ Representative prior to Closing. In this Section 7.5, “
Exploration Program. (a) Singkamas agrees to begin the Exploration Program on the Property by February 1997 or sooner.
Exploration Program. The Exploration Program consists of exploration activities, whether underground or above ground, to be carried out on the Properties to determine the existence, location, extent or quality of mineral resources of such Properties.
Exploration Program. ZaZa as Operator of Record will conduct the Exploration Program across the Prospect Areas and REOS, as Contract Operator, will conduct operations on the Hackberry Creek Project. As compensation for ZaZa's efforts and expertise, ReoStar shall issue to ZaZa Twelve Million (12,000,000) shares of ReoStar common stock (the "Shares"), with the certificate evidencing the Shares registered in the name of ZaZa on the books and records of ReoStar, and pay ZaZa an overhead payment of One Million Five Hundred Thousand Dollars ($1,500,000) per year for three (3) years payable at Three Hundred Seventy-Five Thousand ($375,000) per quarter with the first payment due upon Closing as payment for the second quarter of 2009. This Exploration and Development Agreement can be extended beyond the three year period by mutual written consent of the Parties. All Exploration and Development costs for the Prospect Areas after acquisition of the Subject Leases shall be paid by Parties in accordance with their respective Working Interests. The Contract Operator shall invoice or AFE the Parties in accordance with the JOA. 3.2. "ZaZa Energy LLC" shall use its best efforts to (a) obtain oil and gas leases within the various Prospect Areas which Prospect Areas will be more particularly defined with future Exhibit "B's attached hereto and made a part hereof. ZAZA will use proceeds from an independent land bank to obtain oil and gas leases within the various Prospect Areas. 3.3. "
Exploration Program. The Exploration Program to be conducted under this Agreement shall consist of six Exploration Wxxxx designated by InterOil as provided in Section 3.2 (the “Designated Exploration Wxxxx”) and two Exploration Wxxxx determined by InterOil with the consent or participation of a Majority Interest as provided in Section 3.3 (the “Optional Exploration Wxxxx”).
