Exploration Program Sample Clauses
The Exploration Program clause defines the scope and requirements for conducting exploration activities under an agreement, typically in the context of mining, oil and gas, or other resource development projects. It outlines the types of work to be performed, such as geological surveys, drilling, or sampling, and may specify timelines, reporting obligations, and minimum expenditure commitments. This clause ensures that both parties have a clear understanding of the exploration activities to be undertaken, thereby reducing ambiguity and helping to manage expectations and responsibilities during the exploration phase.
Exploration Program. (a) Singkamas agrees to begin the Exploration Program on the Property by February 1997 or sooner.
(b) Singkamas will dig numerous test pits as part of the exploration program.
(c) Shallow drilling to the depth of 50-60 meters will also be carried out over time second 90-day period. 77
(d) Deep drilling depth of 200 meters will also be carried out over the second 90-day period.
(e) Singkamas agrees to finance the Exploration Program for the development and implementation of the Coal Mine Project. In this regard, Singkamas agrees to spend a minimum of US$100,000 in Year 1; US$100,000 in Year 2; and US$100,000 in Year 3. Accounting records for these expenditures will be kept by Singkamas.
Exploration Program. (a) Kalimas agrees to begin the Exploration Program on the Concession by March/April 1997 or sooner, or at a time mutually agreed between the parties: 14th February.
(b) Kalimas will dig numerous test pits as part of the exploration program.
(c) Shallow drilling to the depth of 50-60 meters will be carried out over the first 90-day period or at a practical time.
(d) Deep drilling to the depth of 200 meters will also be carried out over the second 90-day period or at a practical time.
(e) Kalimas agrees to provide and/or secure 100% finance the Exploration Program for the development and implementation of the Long Beleh Gold Mine. In this regard, Kalimas agrees to spend a minimum of USD #100,000 in Year 1; USD $100,000 in Year 2; and USD $100,000 in Year 3. Accounting records for these expenditures will be kept by Kalimas
Exploration Program. The Optionees agree under the terms of this Agreement to fund a $3,000,000 Exploration Program upon the Property within the first forty-eight (48) month period following the Closing, in accordance with the time line set out in Section 4.2(c) above, through a prepared mining exploration and development work program. The Operator shall carry out the Exploration Program in respect of the Property during the forty-eight (48) month period following the Closing, and shall submit to Mexivada a draft of an initial phase of the Exploration Program for review within thirty (30) days of the Closing.
Exploration Program. The Exploration Program to be conducted under this Agreement shall consist of six Exploration Wells designated by InterOil as provided in Section 3.2 (the "DESIGNATED ▇▇▇▇ORATION WELLS") and two Exploration Wells determined by InterOil with the consen▇ ▇▇ participation of a Majo▇▇▇▇ Interest as provided in Section 3.3 (the "OPTIONAL EXPLORATION WELLS").
Exploration Program. 6.1 IDAH will be the operator of the Exploration Program (the "Operator") and will be responsible for the Operations and the direct execution and administration of the Exploration Program in accordance with this Agreement;
6.2 The Parties hereby agree that Coeur will fund the Exploration Program Expenses during the Exploration Term, subject to the following terms and conditions:
(a) The Parties shall prepare a detailed estimate of all costs to be incurred and a schedule of cash advances to be made by Coeur with respect to the Exploration Program and Exploration Program Expenses in writing no later than January 1 of each year (the "Exploration Budget"). The Exploration Budget shall be subject to Coeur's prior written approval, in its sole discretion. The Exploration Budget for the calendar year ending December 31, 2014 is attached hereto as Exhibit C.
(b) Any Exploration Program Expenses exceeding or in addition to the Exploration Budget shall be subject to Coeur's further prior written approval, in its sole discretion.
6.3 IDAH shall submit proposed Exploration Program subcontractors' information to Coeur for Coeur's written pre-approval at least ten (10) calendar days prior to engaging a subcontractor. Coeur's approval of such subcontractor(s) shall be in Coeur's reasonable discretion. Notwithstanding the foregoing, Coeur reserves the right to designate subcontractors for the Exploration Program, whether or not proposed by IDAH, in its sole and reasonable discretion.
Exploration Program. The Exploration Program to be conducted under this Agreement shall consist of six Exploration W▇▇▇▇ designated by InterOil as provided in Section 3.2 (the “Designated Exploration W▇▇▇▇”) and two Exploration W▇▇▇▇ determined by InterOil with the consent or participation of a Majority Interest as provided in Section 3.3 (the “Optional Exploration W▇▇▇▇”).
Exploration Program. (a) During the first two (2) years following the Effective Date, Purchaser shall fund no less than $15,000,000 of Exploration Expenses in respect of the Exploration Program for the Silvertip Project, which Exploration Program shall be mutually agreed upon by Purchaser and the Vendors’ Representative prior to Closing. In this Section 7.5, “Exploration Expenses” shall mean and include all costs or fees, expenses and charges paid or incurred by JDS Silver (or its affiliates or successor) that are related to Exploration Program, and “Exploration Program” shall mean and include all operations or activities on or relating to the Silvertip Project for purposes of determining mineral resources (inclusive of reserves) for purposes of preparing the report required in connection with Section 4.3 (the “Resource Report”). For greater certainty, Purchaser shall deliver the Resource Report to the Vendors’ Representative by no later than December 31, 2019.
Exploration Program. THE EVALUATOR has the obligation to carry out the Technical Evaluation Program described in Annex C, at its own cost and risk, within the term of this contract, according to Clause 2.5 of this Annex. In the performance of the Technical Evaluation Operations THE EVALUATOR must make sure that the drilling of the stratigraphic ▇▇▇▇▇ meets the scope established in the definitions chapter of this contract.
Exploration Program. Kalimas agrees to begin the Exploration Program on the Concession by March April 1997 or sooner, or at a time agreed upon by the Parties:_______________________.
Exploration Program. ZaZa as Operator of Record will conduct the Exploration Program across the Prospect Areas and REOS, as Contract Operator, will conduct operations on the Hackberry Creek Project. As compensation for ZaZa's efforts and expertise, ReoStar shall issue to ZaZa Twelve Million (12,000,000) shares of ReoStar common stock (the "Shares"), with the certificate evidencing the Shares registered in the name of ZaZa on the books and records of ReoStar, and pay ZaZa an overhead payment of One Million Five Hundred Thousand Dollars ($1,500,000) per year for three (3) years payable at Three Hundred Seventy-Five Thousand ($375,000) per quarter with the first payment due upon Closing as payment for the second quarter of 2009. This Exploration and Development Agreement can be extended beyond the three year period by mutual written consent of the Parties. All Exploration and Development costs for the Prospect Areas after acquisition of the Subject Leases shall be paid by Parties in accordance with their respective Working Interests. The Contract Operator shall invoice or AFE the Parties in accordance with the JOA. 3.