Common use of Area of Mutual Interest Clause in Contracts

Area of Mutual Interest. a) Article 8.00 of the Farmout and Royalty Procedure will be in effect from the Effective Date until July 31, 2007. Subject to Article 8.00, the Parties will have the right to participate in an acquisition of Mutual Interest Lands in the following percentages: Farmor-50% Farmee-50%. The Encumbrances will apply to the Mutual Interest Lands and shall be paid by the Parties in proportion to their participating interest.

Area of Mutual Interest. a) 9.1 Article 8.00 of the Farmout and & Royalty Procedure will be in effect from Effective date of this agreement until the Effective Date until July 31, 2007end of the Earning Period. Subject to Article 8.00that Article, the Parties will have the right to participate in an acquisition of Mutual Interest Lands in the following percentages: Farmor-50Farmor – 50% Farmee-50Farmee – 50%. The Encumbrances will apply to the Mutual Interest Lands and shall be paid by the Parties in proportion to their participating interest.

Area of Mutual Interest. a) 9.1 Article 8.00 of the Farmout and & Royalty Procedure will be in effect from Effective date of this agreement until the Effective Date until July 31, 2007end of the Earning Period. Subject to Article 8.00that Article, the Parties will have the right to participate in an acquisition of Mutual Interest Lands in the following percentages: Farmor-50Farmor - 50% Farmee-50Farmee - 50%. The Encumbrances will apply to the Mutual Interest Lands and shall be paid by the Parties in proportion to their participating interest.

Area of Mutual Interest. a) Except as amended hereby, Article 8.00 of the Farmout and Royalty Procedure will be in effect from the Effective Date until July December 31, 20072008. Subject to Article 8.00, the Parties will have the right to participate in an acquisition of Mutual Interest Lands Lands, as of the date of the purchase of any Mutual Interest Lands, in the following percentages: Farmor-50% Farmee-50%. The Encumbrances will apply to the Mutual Interest Lands and shall be paid by the Parties in proportion to their participating interestwhich they will own working interests in the Farmout Lands after the Farmee has fulfilled its obligations hereunder.