Common use of Completion Elections Clause in Contracts

Completion Elections. Gasco shall have the obligation to fund 9% of the BOG Completion Costs associated with each Subject Well. In the event there is a separate Completion point election relative to any particular Subject Well, BOG shall, in its sole and absolute discretion, make such election for itself and for Gasco. Any election by BOG to Complete or not to Complete any Subject Well shall for all purposes be binding upon Gasco, the same as if Gasco had also made the same election. Gasco shall have the obligation to fund a 9% share of all BOG Completion Costs associated with any Subject Well. The Parties recognize and agree that anything to the contrary contained herein notwithstanding, in the event that Gasco's share of BOG Drilling Costs have been forwarded to the drilling operator for a Subject Well prior to the expiration of the Agreement Term, Gasco's responsibility to fund 18% of the BOG Drilling Costs and 9% of the BOG Completion Costs associated with such Subject Well shall continue despite the termination of the Agreement Term.

Completion Elections. Gasco shall have the obligation to fund 912.5% of the BOG Completion Costs associated with each Subject Well. In the event there is a separate Completion point election relative to any particular Subject Well, BOG shall, in its sole and absolute discretion, make such election for itself and for Gasco. Any election by BOG to Complete or not to Complete any Subject Well shall for all purposes be binding upon Gasco, the same as if Gasco had also made the same election. Gasco shall have the obligation to fund a 912.5% share of all BOG Completion Costs associated with any Subject Well. The Parties recognize and agree that anything to the contrary contained herein notwithstanding, in the event that Gasco's share of BOG Drilling Costs have been forwarded to the drilling operator for a Subject Well prior to the expiration of the Agreement Term, Gasco's responsibility to fund 1825% of the BOG Drilling Costs and 912.5% of the BOG Completion Costs associated with such Subject Well shall continue despite the termination of the Agreement Term.