AMI. Upon the execution hereof, the Parties shall establish the Area of Mutual Interest covering the lands depicted on the attached Exhibit D, ("AMI"). The term of the AMI shall continue through the Drilling Term. During the term of the AMI, if an oil or gas lease, or other interest within the AMI is acquired by one Party (the "Acquiring Party"), the Acquiring Party shall offer the other Parties ("Non-acquiring Parties") their proportionate share of such lease or interest (including all obligations associated with such lease or interest) as set forth below.
Appears in 3 contracts
Sources: Farmout Agreement, Farmout Agreement (Axiom Oil & Gas Corp.), Farmout Agreement (Dejour Enterprises LTD)