Common use of Phase II Clause in Contracts

Phase II. If the Contractor elects to enter Phase II, then during such Phase II of the Exploration Period the Contractor shall drill one (1) well into the Campanian/Santonian or to a total depth of five thousand, five hundred (5,500) meters sub-sea in the Contract Area.

Appears in 4 contracts

Sources: Production Sharing Contract, Production Sharing Contract, Production Sharing Contract (Kosmos Energy Ltd.)