Common use of Minimum Exploration Program Clause in Contracts

Minimum Exploration Program. The Exploration Phase shall be effective for «duration» years. Minimum Exploration Program and its Financial Guarantees Indication of the Block Area (km²) Exploratory Well Minimum Depth of the Well (age) Amount of the Financial Guarantee for the Exploration Phase (R$) XX (insert amount in words) ANNEX III – FINANCIAL GUARANTEE OF THE MINIMUM EXPLORATION PROGRAM (Attach a copy of the Financial Guarantee of the Minimum Exploration Program) ANNEX IV – PERFORMANCE GUARANTEE (Attach a copy of the document submitted, if applicable)

Minimum Exploration Program. The Exploration Phase shall be effective for «duration» years. Minimum Exploration Program and its Financial Guarantees Indication of the Block Area (km²) Exploratory Well Minimum Depth of the Well (age) Amount of the Financial Guarantee for the Exploration Phase (R$) XX (insert amount in words) ANNEX III XXXXX XXX – FINANCIAL GUARANTEE OF THE MINIMUM EXPLORATION PROGRAM (Attach a copy of the Financial Guarantee of the Minimum Exploration Program) ANNEX IV XXXXX XX – PERFORMANCE GUARANTEE (Attach a copy of the document submitted, if applicable)