Interest of the Parties. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the Parties as their interests are set forth in Exhibit "A". In the same manner, the Parties shall also own all production of oil and gas from the Contract Area. Nothing contained in this Article III shall be deemed an assignment or cross-assignment of interests covered hereby.
Appears in 2 contracts
Samples: Operating Agreement Cocorna and Nare Associations (Saba Petroleum Co), Operating Agreement (Saba Petroleum Co)
Interest of the Parties. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the Parties as their interests are set forth in Exhibit "A". In the same manner, the Parties shall also own all production of oil and gas from the Contract Area. Nothing contained in this Article III III. shall be deemed an assignment or cross-assignment of interests covered hereby.
Appears in 1 contract
Samples: Operating Agreement Velasquez Field (Saba Petroleum Co)
Interest of the Parties. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the Parties as their interests are set forth in Exhibit "A". In the same manner, the Parties shall also own all production of oil and gas share in the revenues from the Contract Area. Nothing contained in this Article III shall be deemed an assignment or cross-assignment of interests covered hereby.
Appears in 1 contract
Samples: Operating Agreement Velasquez Galan Pipeleine (Saba Petroleum Co)
