Seismic Project definition

Seismic Project means a project within the AMI to acquire permits, options, leases, geological and 2-D or 3-D geophysical data and information or to conduct other 2-D or 3-D exploration activity.
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Examples of Seismic Project in a sentence

  • Approval by a Party of a Seismic Project shall bind such Party to pay such Party’s Relevant Interest of all costs and expenses incurred in connection with such Seismic Project to the extent of the Seismic Project Budget.

  • If the Parties are unable to agree on the parameters to be contained in a final Seismic Project within forty-five (45) days after the Proposal Date, the Seismic Project proposed by Trigon shall be deemed adopted and CEU shall have five days after notice from Trigon to either approve or reject such project.

  • In the event that CEU submits a counter-proposal, the Parties shall promptly attempt to mutually agree on the parameters to be contained in a final Seismic Project.

  • Within thirty (30) days of the date that the proposal is delivered to CEU (the “Proposal Date”), CEU shall provide Trigon with written notice of CEU’s (x) intention to proceed with the project as proposed, (y) election not to proceed with the project, or (z) counter-proposal for the project; provided, however, that a failure to provide Trigon with a notice within such 30-day period shall constitute an election to not participate in the Seismic Project as proposed.

  • The total amount advanced by CEU during Phase One, whether for Lease Acquisition Costs or for a Seismic Project or Seismic Data, is referred to as the “CEU Funded Capital” and the total amount advanced by Trigon during Phase One, whether for Land Acquisition Costs or for a Seismic Project or Seismic Data, is referred to as the “Trigon Funded Capital”.

  • Seismic Project shall have the meaning set forth in Section 11.5.