Common use of Exploration Expenditures Clause in Contracts

Exploration Expenditures. Exploration Expenditures are those costs, whether of a capital or operating nature, which directly relate to Exploration for Hydrocarbons incurred under the Contract, including costs of: (a) Surveys, including labour, material and services, used in aerial, geophysical, geochemical, geological and seismic surveys and core hole drilling, including desk studies and interpretation of survey data. (b) Drilling ▇▇▇▇▇, including labour, material and services, provided such ▇▇▇▇▇ are not completed as producing ▇▇▇▇▇. (c) Facilities used solely in support of the performance of activities mentioned in paragraphs (a) and (b).

Exploration Expenditures. Exploration Expenditures are those costs, whether of a capital or operating nature, which directly relate to Exploration for Hydrocarbons incurred under the Contract, including costs of: (a) Surveys, including labourlabor, material and services, used in aerial, geophysical, geochemical, geological and seismic surveys and core hole drilling, including desk studies and interpretation of survey data. (b) Drilling ▇▇▇▇▇, including labourlabor, material and services, provided such ▇▇▇▇▇ are not completed as producing ▇▇▇▇▇. (c) Facilities used solely in support of the performance of activities mentioned in paragraphs (a) and (b).

Exploration Expenditures. Exploration Expenditures are those costs, whether of a capital or operating nature, which directly relate to Exploration for Hydrocarbons incurred under the Contract, including costs of: (a) Surveys, including labour, material and services, used in aerial, geophysical, geochemical, geological and seismic surveys and core hole drilling, including desk studies and interpretation of survey data. (b) Drilling ▇▇▇▇▇, including labour, material and services, provided such ▇▇▇▇▇ are not completed as producing ▇▇▇▇▇. (c) Facilities used solely in support of the performance of activities mentioned in paragraphs (a) and (b). d) Expenditures described in Article 2.3 below.