Common use of Disclosing Clause in Contracts

Disclosing. The Contractor will publish in the Official Gazette of the Federal Government, the full text or extract of the terms of this Contract for its validity erga omnes. The Parties sign this Contract in ___ copies of equal content and form and for only one purpose, in the presence of the witnesses listed below. Date, Location, Signatories Cartographic Parameters Used for the Coordinates. (Add information of Sedimentary Basin and Exploratory Block, following the pattern of the Grid of ANP) Designation of the Area Area (km2) Amount of the Financial Guarantee for the First Period (R$)2 Exploratory Well3 Minimum Depth of the well (age)3 2D Seismic (km)4 3D Seismic (km2)4 For the purposes of compliance with the Minimum Exploratory Program, the time elapsed between the date of purchase of the data and the date of completion of the data acquisition campaign should be up to 5 (five) years. The contracted party may replace 5 linear km of non-exclusive 2D seismic surveys per 1 km² of non-exclusive 3D seismic surveys. Financial guarantees shall be used for the Minimum Exploratory Program in the form of irrevocable letters of credit, insurance guarantee, pledge contract of oil and in the form and conditions set forth in the Tender Protocol of the Area of this Production Sharing Contract. Copies of the financial guarantee delivered, referring to the Minimum Exploratory Program are seen next. Copy of the documents delivered as performance guarantee, according to the Tender Protocol, if applicable, are seen next. In accordance with Law no. 12,351/2010, the Contracted Party shall pay the following Government Revenues: Signature Bonus paid by the Contracted Party, as per the Tender Protocol, at the amounts below: Royalties at an amount corresponding to 15% (fifteen percent) of the Total Volume of Production of Petroleum and Natural Gas held in the Area of the Contract. – GENERAL INSTRUCTIONS for Exploration Plan The General Instructions for the Exploration Plan define the purpose, content and determine the procedures regarding its form of presentation to the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The Exploration Plan should cover, at least, the Minimum Exploratory Program. The implementation of the activities of the Minimum Exploratory Program may be initiated before the adoption of the Exploration Plan, provided ANP is notified in advance. The first Exploration Plan should be submitted by the Contracted Party within a maximum of 120 (one hundred and twenty) days after the date stipulated in the Contract for the constitution of the Operating Committee. If the Contracted Party holds interest in performing additional exploratory activities to the Minimum Exploratory Program, it must submit to ANP, the revised Exploration Plan with a minimum advance notice of 120 (one hundred and twenty) days after the commencement of such activities. The additional activities of the Minimum Exploratory Program should be initiated after the approval of the Exploration Plan. At its sole discretion, ANP may authorize the commencement of additional activities to the Minimum Exploratory Program before the adoption of the Exploration Plan. ANP will have 60 (sixty) days after receiving the Exploration Plan to approve it or request changes from the Contracted Party. If ANP requests such modifications, the Contracted Party should present them in a period of 60 (sixty) days after such request, thus repeating the procedure laid down in this paragraph. The execution of the Exploration activities already initiated may be interrupted, if rightly demanded by ANP. The Exploration Plan must: Be prepared according to the instructions contained in this Annex for its approval; Contain comprehensive and detailed information enough for its approval, and Allow ANP to know, monitor and supervise the exploratory activities contained in it. The Exploration Plan must contain: Name of the Consortium Members; Name of the Operator; Identification of the Area of the Contract; Name of sedimentary Basin; Contract number; Schedule of the exploratory activities of the Exploration Plan and budgets provided year after year, based on the attached spreadsheet; and The estimates of the minimum Local Content percentage to be hired. An executive summary, which should take into account the geological context of the Area of the Contract (including the location map) and the description of the planned exploratory activities by presenting its justifications; The approval of the Exploration Plan by ANP does not imply the automatic recovery of the costs provided in it. Any change in the Exploration Plan should be formally notified to ANP and accompanied by the technical justifications that motivated it. ANP will have 60 days to evaluate and, if appropriate, approve the proposed amendments to the Exploration Plan. ANP may at any time request the additional information it deems relevant, as well as oral exposure of the Exploration Plan and its revisions. Amendments to the Exploration Plan do not disclaim the Contracted Party to fully comply with the Minimum Exploratory Program. The approval of the Completion Report of the Exploration Plan by ANP does not imply the automatic recovery of the costs provided in it. Table 01: Model of the Exploration Plan Spreadsheet 3D ACQUISITION km2 3D ACQUISITION km2