Common use of Creation of Area of Mutual Interest Clause in Contracts

Creation of Area of Mutual Interest. The Parties hereby establish the Area of Mutual Interest. Except in accordance with the terms of this Agreement, a Party shall not acquire any rights, directly or indirectly, in any exploration licences, ▇▇▇▇▇, or other, petroleum, and or natural gas interests in the “Area of Mutual Interest” or the “AMI”) at any time for the period from the Effective Date until 120 days after the date of completion of the Minimum Work Obligation (the “AMI Period”). For the purposes hereof each Party shall be deemed to have acquired any AMI Interests acquired by its Affiliates, and shall at all times be required to comply with all obligations provided for hereunder as if those AMI Interests constituted property of that Party.

Creation of Area of Mutual Interest. The Parties hereby establish the Area of Mutual Interest. Except in accordance with the terms of this Agreement, a Party shall not acquire any rights, directly or indirectly, in any exploration licences, ▇▇▇▇▇, or other, petroleum, other petroleum and or natural gas interests in the “Area of Mutual Interest” or the “AMI”) at any time for the a period from commencing on the Effective Date until and ending 120 days after the rig release date of completion of the Minimum last well drilled pursuant to the Work Obligation Programme (the “AMI Period”). For the purposes hereof each Party shall be deemed to have acquired any AMI Interests acquired by its Affiliates, and shall at all times be required to comply with all obligations provided for hereunder as if those AMI Interests constituted property of that Party.