Exploration Period. 1. Pursuant to the Concession Decree-Law, an Initial Exploration Phase of five (5) Contract Years shall start from the Effective Date. One (1) successive extension of three (3) Contract Years (the Optional Exploration Phase) may follow the Initial Exploration Phase, provided that Contractor notifies Sonangol in writing of such extension, at least thirty (30) days before the end of the Initial Exploration Phase, and if, unless otherwise agreed by Sonangol, Contractor has fulfilled its obligations in respect of such Phase.
Appears in 3 contracts
Samples: Risk Services Agreement (Cobalt International Energy, Inc.), Risk Services Agreement, Risk Services Agreement (Cobalt International Energy, Inc.)
Exploration Period. 1. Pursuant to the Concession Decree-Law, an Initial Exploration Phase of five four (54) Contract Years shall start from the Effective Date. One (1) successive extension of three (3) Contract Years (the Optional Exploration Phase) may follow the Initial Exploration Phase, provided that Contractor notifies Sonangol in writing of such extension, at least thirty (30) days before the end of the Initial Exploration Phase, and if, unless otherwise agreed by Sonangol, Contractor has fulfilled its obligations in respect of such Phase.
Appears in 2 contracts
Samples: Risk Services Agreement (Cobalt International Energy, Inc.), Risk Services Agreement (Cobalt International Energy, Inc.)
