the NSAI definition
Examples of the NSAI in a sentence
Neither they, nor to their knowledge, any of their employees, officers or directors, own interests in any Vanguard Party or any oil and gas properties covered by the NSAI Reserve Report.
NSAI, which prepared the NSAI Reserve Reports contained in the Initial Registration Statement, the General Disclosure Package and the Prospectus, was as of the date of each such report, and is, as of the date hereof, an independent reserve engineer and acts as independent reserve engineer with respect to Fund I.
Such report, if prepared, shall utilize the same regulatory requirements as does the NSAI final reserve report as of June 30, 2007, being either the Canadian guidelines NI 51-101 regarding reserve estimate and/or the Securities and Exchange Commission and Society of Petroleum Engineers reserve calculation guidelines.
Such report, if prepared, shall utilize the same regulatory requirements as does the NSAI final reserve report as of June 30, 2006, being either the Canadian guidelines NI 51-101 regarding reserve estimate and/or the Securities and Exchange Commission and Society of Petroleum Engineers reserve calculation guidelines.
The properties and interests therein described in the NSAI Reports are classified as PDP (proved developed producing), PDNP (proved developed non-producing), PUD (proved undeveloped), Probable and Possible.
As noted above, the costs estimated by NAE are significantly higher than the base figures used in the NSAI Report (refer to Table 2).
Such sum is referred to herein as the "Acreage Allocation." The Acreage Allocation is allocated and distributed among the particular oil and gas properties and interests to which no discounted present worth of estimated net revenue is attributed and which are not described in and covered by the NSAI Reports as set forth on the schedule attached as Schedule I.E. hereto.
If the NSAI Reserve Value is a negative number neither Party shall owe to the other Party any payment in respect of the NSAI Reserve Value.
Capital expenditure (“Capex”) and operating expenditure (“Opex”) estimations have been updated after the release of the NSAI Report.
Except for changes generally affecting the oil and gas exploration, development and production industry (including changes in commodity prices) and normal depletion by production, there has been no change in respect of the matters addressed in the Sierra Reserve Report or, to the knowledge of Sierra, in the NSAI Reserve Report, that would reasonably be expected, individually or in the aggregate, to have a Sierra Material Adverse Effect.