Definition of POPA Prospect Area

  1. POPA Prospect Area means all acreage of the Rio Magdalena Association Contract area that lies south of the northern most point of (i) an east west line defined by Bogota east/west coordinate 1,020,000, or (ii) an east west line intersecting the Ambalema-1 well bore, as set forth in the map attached as Schedule 1.53. The Rio Magdalena Association Contract area includes all the acreage, including any productive Hydrocarbons intervals which are found beneath such acreage, provided for in that certain Colombian Association Contract, dated February 8, 2002, by and between Argosy and Ecopetrol located in the Cundinamarca and Tolima Provinces of Colombia, as further described in Schedule 1.33 attached hereto, pages 40 and 79.

Examples of POPA Prospect Area in a sentence

  1. For the purposes of this Section 10.7, neither (i) any matters concerning drilling of the POPA #1 well, nor (ii) the failure of the POPA Prospect Area to become a commercial field, shall constitute a material adverse change in the financial condition, business operations, liabilities or assets of Argosy, nor shall such failure constitute an event or circumstance that may result in a material adverse change

Definition of POPA Prospect Area in Participation Agreement

POPA Prospect Area means all acreage of the Rio Magdalena Association Contract area that lies south of the northern most point of (i) an east west line defined by Bogota east/west coordinate 1,020,000, or (ii) an east west line intersecting the Ambalema-1 well bore, as set forth in the map attached as Schedule 1.53. The Rio Magdalena Association Contract area includes all the acreage, including any productive Hydrocarbons intervals which are found beneath such acreage, provided for in that certain Colombian Association Contract, dated February 8, 2002, by and between Argosy and Ecopetrol located in the Cundinamarca and Tolima Provinces of Colombia, as further described in Schedule 1.33 attached hereto, pages 40 and 79.