Deeper Drilling Sample Clauses

Deeper Drilling. The drilling of an Appraisal Well or Development Well below the Deepest Producible Reservoir in existence when the well is proposed.

Deeper Drilling. If a well is proposed to be drilled below the deepest producible zone penetrated by a Producible Well, any Party hereto may elect either; a) to participate in the well as proposed, or b) to participate in the well to the base of the deepest producible zone penetrated by a Producible Well. If a Party elects to participate in the proposed well to the base of the deepest producible zone penetrated by a Producible Well, such Party shall bear its proportionate part of the cost of such operations, including completion or abandonment, only to the depth to which such Party agreed to participate. In the event the well is completed below the depth to which such Party agreed to participate, all costs incurred in the operations for that portion of the well below the agreed depth shall be governed by the provisions of Section 10.3.2.

Deeper Drilling. If a well is proposed to be drilled below the deepest Producible Reservoir penetrated by a Producible Well, any Party may elect to participate either in the well as proposed or to the base of the deepest Producible Reservoir. A Party electing to participate in such well to the base of said Producible Reservoir shall bear its proportionate part of the cost and risk of drilling to said Producible Reservoir including completion or abandonment. All operations below the depth to which such Party agreed to participate shall be governed by Article 12. However, if the proposal to drill below the deepest Producible Reservoir penetrated by a Producible Well meets the requirements of an Exploratory Operation, the percentage of recoupment shall be that specified in Section 10.4(b) and shall be subject to the provisions of Article 10 with respect to such operations.