BUDGET STATEMENT. 10.1. The Contractor shall prepare an annual budget pursuant to Article 17 of the Agreement (the “Budget Statement”). The Budget Statement will distinguish between Exploration Costs, Development Costs and Operating Costs consistent with the individual categories specified in Sections 2 and 3 and will show the following: (a) Forecast expenditures and receipts under the Agreement for the Calendar Year. (b) Cumulative expenditures and receipts to the end of the said Calendar Year.
Appears in 6 contracts
Sources: Production Sharing Agreement, Production Sharing Agreement, Production Sharing Agreement