New JOA definition

New JOA means a new Joint Operating Agreement to govern operations on the Andora Operated Prior Agreement Lands so as to provide specifically for the development of all such lands by operations commonly known as “Steam Assisted Gravity Drainage” or “SAGD”;
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Examples of New JOA in a sentence

  • The New JOA will have a 500% non-consent penalty and will provide that the Participant will receive a title opinion with respect to the applicable Well in a form reasonably acceptable to the Participant in accordance with industry standard providing evidence of good and sufficient defensible title to the Properties to be assigned to the Participant to commence any proposed drilling in addition to any other title or similar opinions, including division order title opinions (collectively “Title Opinions”).

  • Royalty Interests shall be paid promptly by AME as Operator of the Karakilise Licenses on behalf of the parties to the New JOA.

  • For the purposes of this Agreement, "Net Revenues" means the aggregate of gross revenues attributable to the Transferred Interest from: (i) production from the Karakilise Licenses (including, but not limited to, receipts under the Crude Oil Sale Agreement dated 15 February 2002); (ii) Joint Operations under the Current JOA during the Interim Period; and (iii) Joint Operations under the New JOA, less the Royalty Interests.

  • This audit right will be replaced by the corresponding audit right under the New JOA, if the New JOA is adopted.

  • If the parties to the New JOA agree that drilling services may be carried out by AME on a turnkey basis.

  • Execution of New JOA by August 16, 2013 - Payment of 2013 Cash Call by September 16, 2013 - Payment of cash calls related to SAGD Water Facilities AFEs by September 16, 2013 - Payment of Nearshore GOR Price by September 16, 2013 - Concurrent closing of Nearshore GOR purchase CLOSING DELIVERIES: Conveyance in form and content satisfactory to NAOL, acting reasonably.

  • For the avoidance of doubt, in calculating Net Revenues no deduction shall be made in respect of cash-calls, AFEs or for any capital expenses under the Current JOA or New JOA and there shall be no set-off in respect of any obligations or indebtedness of JKX against the Revenue Account.

  • JKX shall share, together with the other New JOA participants, in accordance with their respective participating interests (expressed as a percentage) in the liabilities and expenses properly incurred by the New JOA Operator under the New JOA and in credits to the Joint Account.

  • AME shall not set-off any amounts due under the New JOA (as defined in the Participation Agreement) against any sums due under the invoice.

  • The Company shall have executed the New JOA on terms and conditions acceptable to Parent in its sole discretion.