May 2003 Sample Clauses

May 2003. The Parties have received disbursements from the sale of MMBtu's Delivered during May, 2003 from the Rodessa/Sligo Interval of the Madisonville Rodessa Field in the following amounts: Redwood Hanover Gateway ------- ------- ------- $121,979.99 $121,979.31 $10,000.00 ($14,273.68)* ($48,503.03)** ($48,503.03)** -------------- -------------- TOTAL ===== $59,202.28 $73,476.28 $10,000.00 ========== ========== ========== * The cost to Redwood of 2,663 MMBtus of line pack gas purchased in April, 2003 at $5.36/MMBtu. The Parties agree that Redwood is entitled to receive 2,663 MMBtus of line pack gas at the sales meter of the Lone Star transportation pipeline free and clear of any costs of treatment or gathering/transportation upon the earlier to occur of (i) the termination of the Master Agreement or (ii) cessation of production from the Rodessa/Sligo Interval of the Madisonville Rodessa Field. ** These figures represent the cost to Redwood and Hanover of 16,636 MMBtus of gas purchased for Treatment Plant operations and testing in May, 2003 at $5.67/MMBtu.