Earning. Providing Participant has participated with Olympia pursuant to the terms of the Farmin Agreement and has fulfilled its obligations with respect to Clause 5 hereof, then Participant shall have earned the following interest in the Farmout Lands: In the Test Well Spacing Unit: Before Payout of Drill & Completion Costs 25% After Payout of Drill & Completion Costs 5% In the balance of the Farmout Lands: 15%
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Sources: Farmin Agreement (Netco Energy Inc), Farmin Agreement (Nation Energy Inc)
Earning. Providing Participant has participated with Olympia pursuant to the terms of the Farmin Agreement and has fulfilled its obligations with respect to Clause 5 hereof, then Participant shall have earned the following interest in the Farmout Lands: :In the Test Well Spacing Unit: Before Payout of Drill & Completion Costs 25% After Payout of Drill & Completion Costs 515% In the balance of the Farmout Lands: 15%
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