Common use of Pre-Feasibility Studies Clause in Contracts

Pre-Feasibility Studies. In relation to such Target Projects as the Board resolves shall be appraised by the Company, the Company, through its Management Team and in consultation with the Shareholders, will prepare and submit to the Board within three (3) calendar months a pre-feasibility evaluation study covering technical scoping; site investigation and requirements; gas composition; cost estimates (including gas price, operating expenditure and capital expenditure); marketing implications; infrastructure/vessel requirements; vessel capacity; the fiscal and political environments; risk register; preliminary project economics; and a recommendation as to whether the Board should proceed to give authority to negotiate and proceed with a feasibility study. No expense shall be incurred by the Company for the purpose of the pre-feasibility study which would require a variation of the Initial Budget or (as applicable) the Annual Budget or Revised Annual Budget).