Common use of Seismic Program Clause in Contracts

Seismic Program. a) The parties hereby confirm that, pursuant to a prior agreement but as part of the Farmee’s consideration under this Agreement, that on or before November 1, 2006, Farmee, at its sole cost and risk, commenced (and has now completed) shooting a minimum 10 square kilometres three dimensional seismic program over the Farmout Lands which shall be sufficient to fully evaluate the Farmout Lands (the “Seismic Program”). which shall be reasonable under the circumstances. b) From the Seismic Program, Farmee shall provide Farmor, at no cost and as soon as available, with a copy of: all field data including survey information; processed data, including stacked data; interpreted data; and a copy of shot point base maps and bin overlay maps. Farmor shall hold such data confidential and for its sole use and benefit. c) Farmee shall retain 100% of the trading rights and sole ownership of the Seismic Program.