Common use of DEVELOPMENT AND OPERATING CHARGES Clause in Contracts

DEVELOPMENT AND OPERATING CHARGES. Subject to limitations hereinafter prescribed, Operator shall charge the joint account with the cost of the following items: 1. Rentals and Royalties All deposits, rentals, renewal and extension fees, payments in lieu of actual production (where applicable), and royalties, paid by Operator for the joint account.

Appears in 1 contract

Sources: Farmout Agreement (Canada Southern Petroleum LTD)

DEVELOPMENT AND OPERATING CHARGES. Subject to limitations hereinafter prescribed, Operator shall charge the joint account with the cost of the following items: 1. Rentals and Royalties All deposits, rentals, renewal and extension fees, payments in lieu of actual production (where applicable), and royalties, paid by Operator for the joint account.Royalties

Appears in 1 contract

Sources: Joint Venture Agreement (Eflo Energy, Inc.)