exploration expenditure definition
exploration expenditure. , means expenditure actually incurred, whether directly or indirectly, in or in connection with the carrying out of exploration operations in any area in Namibia, including expenditure actually incurred in respect of -
exploration expenditure means expenditure relating to geological, geophysical, and geochemical surveys, exploration or appraisal drilling, or feasibility and environmental impact studies incurred in conducting Petroleum Operations prior to Ministry or Designated Authority, as the case may be, approval of a Development Plan;
exploration expenditure means expenditure incurred, prior to approval of a development plan, in undertaking exploration operations, including in the acquisition of a depreciable asset used in those operations and an expenditure treated as exploration expenditure under a petroleum agreement, but does not include expenditure that is not allowed as a deduction under section 22(2) or 23;
More Definitions of exploration expenditure
exploration expenditure means expenditure incurred by a contractor in undertaking exploration operations authorized under a petroleum agreement and includes expenditure incurred in acquiring –
exploration expenditure means any and all expenditure incurred in conducting Petroleum Operations prior to National Petroleum Agency approval of a Field Development Program including, without limitation, Exploration and Appraisal operations;
exploration expenditure means any cost incurred in exploration on the Joint Venture Area including but not limited to prefeasibility and feasibility studies, a pilot plant, any drill-related cost of any type, drill rig mobilisation and demobilisation, access and drill site preparation, field supervision of drilling and other work, payments to community groups, compensation to landowners (but excluding the cost of the acquisition of land prior to Exeter earning a 50% Participating Interest), field living expenses (such as motels, hotels or caravan accommodation and meals), replacement bonds on conversion from any mining titles (or fees associated therewith as the case may be), reasonable travel expenses of employees and contract personnel when travelling in connection with the Joint Venture Area, exploration vehicle expenses, geological mapping and sampling, geochemical and geophysical surveying, drafting, core logging and splitting, sample preparation, sample shipment, assaying, mineralogical studies, data plotting and handling, trenching, drifting, bulk sampling, ore reserve calculations, and any other additional studies the manager deems necessary pursuant to an approved program and budget; Exploration Expenditures include all statutory fees, occupation fees, rents and bonds incurred in maintaining the Joint Venture Area, Cognito (including all corporate costs) and the Carotti Option Agreement in accordance with Clause 9.1, an administrative overhead not exceeding 10% and all government fees and charges including but not limited to taxes, conversion fees, filing fees and any option payment provided for in this Agreement; Travel and accommodation costs outside Argentina shall be restricted to a reasonable level;
exploration expenditure means expenditure relating to and connected with geological, geophysical and geochemical surveys, exploration or appraisal drilling, or feasibility and environmental impact studies incurred in conducting Petroleum Operations prior to the grant of an approval of the Development plan by the responsible Ministry or Designated Authority, as the case may be;
exploration expenditure all costs, charges and expenses (including, but not limited to, prospecting rentals, administration fees and costs, licence fees, licence acquisition fees, payments to surface owners, or payments to the State), payable and payments of whatsoever nature 1256/AAP/KJW 26/04/2004 made or incurred in connection with the prospecting and investigation of the JV Area, and shall include, but not be limited to, all costs, charges and expenses required for the completion of any preliminary appraisals, geological assessments, engineering studies, metallurgical tests and feasibility studies carried out to ascertain the economic viability of mineralisation in and upon the JV Area, costs of the Bankable Feasibility Study, the cost of all personnel within the Anglo Platinum Group (seconded to or employed by the Joint Venture at the cost invoiced by the relevant company within the Anglo Platinum Group to Plateau at pre-agreed rates), Plateau and Anooraq directly or indirectly engaged in the Joint Venture Project, and any costs of rehabilitation incurred or provided for in the course of prospecting; 1256/AAP/KJW 26/04/2004 “the Exploration Phase” the period of the Joint Venture Project from the Effective Date up to the earlier of : – PPL and Plateau taking a Decision to Mine; or – Plateau completing its expenditure obligations as provided for in 6.1 either at the end of the 5th (FIFTH) year of this Agreement or prior thereto;
exploration expenditure means all costs, charges and expenses (including, but not limited to, prospecting rentals, administration fees and costs, licence fees, licence acquisition fees, payments to surface owners, or payments to the State), payable and payments of whatsoever nature made or incurred in connection with the prospecting and investigation of the JV Area, and shall include, but not be limited to, all costs, charges and expenses required for the completion of any preliminary appraisals, geological assessments, engineering studies, metallurgical tests and feasibility studies carried out to ascertain the economic viability of mineralisation in and upon the JV Area, the cost of all personnel of PTM directly or indirectly engaged in the project, and any costs of rehabilitation incurred or provided for in the course of prospecting; “the Exploration Phase” the period of the Joint Venture Project from the Effective Date up to the completion of a Bankable Feasibility Study;
exploration expenditure has the meaning given to that term in the Exploration and Shareholder’s Agreement.