Common use of Prospects Clause in Contracts

Prospects. Exhibit "A" lists Prospects initially to be acquired by the Partnership, and its proportionate working interest in each Prospect. Most w▇▇▇▇ to be drilled by the Partnerships will be offsets to, or located nearby, producing w▇▇▇▇. The Partnership will be assigned single well drilling or spacing units or portions thereof for prospects located on PDC's P▇▇▇▇▇▇ or Chevron acreage in Garfield County, Colorado or on acreage in PDC's N▇▇▇▇▇ or B▇▇▇▇▇ Project acreage in North Dakota or on development prospects located in the Greater Wattenberg Field Area. If an exploratory well is drilled on PDC's acreage in the above areas, and the well proves up reserves on the immediately adjacent spacing or drilling units, if PDC owns an interest in the adjacent units, PDC will assign the Partnership an interest equivalent to that owned in the exploratory well, proportionately reduced if PDC owns less than a 100% interest in the adjacent spacing units.

Prospects. Exhibit "A" lists Prospects initially to be acquired by the Partnership, and its proportionate working interest in each Prospect. Most w▇▇▇▇▇ to be drilled by the Partnerships will be offsets to, or located nearby, producing w▇▇▇▇▇. The Partnership will be assigned single well drilling or spacing units or portions thereof for prospects located on PDC's P▇▇▇▇▇▇▇ or Chevron acreage in Garfield County, Colorado or on acreage in PDC's N▇▇▇▇▇▇ or B▇▇▇▇▇▇ Project acreage in North Dakota or on development prospects located in the Greater Wattenberg Field Area. If an exploratory well is drilled on PDC's acreage in the above areas, and the well proves up reserves on the immediately adjacent spacing or drilling units, if PDC owns an interest in the adjacent units, PDC will assign the Partnership an interest equivalent to that owned in the exploratory well, proportionately reduced if PDC owns less than a 100% interest in the adjacent spacing units.