Common use of Relinquishments Generally Clause in Contracts

Relinquishments Generally. 2.6.1 No relinquishment made in accordance with Articles 2.4 or 2.5 shall relieve the Contractor from its obligation to pay surface rentals accrued or make payments due and payable as a result of Petroleum Operations conducted up to the date of relinquishment. 2.6.2 The Contractor shall, in accordance with good oil field practice, propose the geographic location of the portion of the Contract Area that it proposes to retain, and which shall have a continuous geometric shape going from North to South and East to West delimited as a minimum by one minute (1') of latitude or longitude or by natural boundaries and such area shall also be subject to the approval of the Ministry.

Relinquishments Generally. 2.6.1 2.7.1 No relinquishment made in accordance with Articles 2.4 ‎2.4 or 2.5 ‎2.5 shall relieve the Contractor from its obligation to pay surface rentals accrued or make payments due and payable as a result of Petroleum Operations conducted up to the date of relinquishment. 2.6.2 2.7.2 The Contractor shall, in accordance with good oil field practice, propose the geographic location of the portion of the Contract Area that it proposes to retain, and which shall have a continuous geometric shape going from North to South and East to West delimited as a minimum by one minute (1'’) of latitude or longitude or by natural boundaries and such area shall also be subject to the approval of the MinistryMinistry and shall be deemed approved after sixty (60) days.