If Momentus does not commence, or cause to be commenced, the drilling of the Test Well by the Spud Date (subject to any extension to the Spud Date in the event of a delay provided for in Section 2(a) above) or the Substitute Well if applicable, then Momentus will lose any rights to earn a fifty percent (50%) working interest in the Farmout Lands exclusive of the Workover Lands and this Agreement shall terminate and Momentus shall not incur any liability to the Farmors.
Spud Date: 8/2012 1/2013 3/2013 4/2013 6/2013 7/2013 Spud Date: 8/2012 1/2013 3/2013 4/2013 6/2013 7/2013 $423 / ft $129 /m $285 / ft $87 /m $196 / ft $60 /m $193 / ft $59 /m 0 20 40 60 80 100 120 140 0 50 100 150 200 250 300 350 400 450 Göksu-3H Göksu-4H Oba-1 Göksu-5H $ per meter $ per foot Mardin Surface Hole Cost 1) MOLLA DRILLING PROGRESS, CONTINUED 13 Molla surface drilling costs have decreased with well replication.
Horizontal Well Costs Coming Down Capital costs decreasing due to experience, efficiencies, completion / well design optimization, and pad development Operated Horizontal Actual Drilling & Completion Costs Per Lateral Foot (by Spud Date) Short Laterals ___________________________ Excludes $216 per lateral foot of cost due to sidetrack.
Q2-Q4 Q2 Q4 Q4 Q4 Q1 Q2-Q3 Q4 Q3 Q1-Q2 Q3 Q3-Q4 Q4 Q4 Q3 Wind River Williston Denver-Julesberg Montana Overthrust Paradox Big Horn Basin Basin Basin Prospect Prospect Prospect Play Type Play Type Play Type Planned Spud Date* Planned Planned Spud Date* Spud Date* W.
If a Joint Operating Agreement is not signed prior to the Spud Date of each Farmin Well, the Farmees shall have the right to delay the Spud Date until the Joint Operating Agreement is signed by the Parties, and the Farmee's obligation to conduct the Farmin Works shall be suspended until such Joint Operating Agreement is fully signed.