Common use of Article II Clause in Contracts

Article II. By execution of this Participation Agreement, REC acknowledges its obligation to participate in the three (3) ▇▇▇▇▇ described in Exhibit “E” (the “▇▇▇▇▇”) and the rig mobilization/demobilization to the Main Pass “A” Platform (the “Platform”). Concurrently with execution hereof, REC will execute and return to W&T each Authority for Expenditure (“AFE”) attached hereto as Exhibits “E-1, E-2, E-3 and E-4”, each AFE describing the drilling and evaluation of three (3) Test ▇▇▇▇▇ and the cost associated the mobilization and demobilization of the H&P Rig No. 206 to the Platform as listed below: AFE #D07021: Main Pass 283 – OCS-G 13662 Well ▇-▇ ▇▇-▇ ▇▇▇ #▇▇▇▇▇▇: ▇▇▇▇ ▇▇▇▇ ▇▇▇ - ▇▇▇-▇ 26168 Well ▇-▇ ▇▇-▇ ▇▇▇ #▇▇▇▇▇▇: ▇▇▇▇ ▇▇▇▇ ▇▇▇ - ▇▇▇-▇ 26168 Well A-5 ST-1 AFE #D07018: Rig Mobilization/Demobilization