Seismic Agreement

2 It would be possible, at least in theory, to retain a large area owned by a number of separate land and mineral owners, by ensuring individual, inexpensive seismic options instead of leases by each. But in practice, it would be quite difficult to negotiate. A more convenient alternative in an area of rank cats can be the “chessboard” in the entire vast area before seismicity is pulled. Since the option lessor relies heavily on the best leasing terms it obtains when the warrant officer moves to a leasing provision, a landowner`s seismic option generally requires the warrant officer to choose at a minimum – in other words, to enter into a lease agreement for at least part of the contract territory at the indicated option price. While this increases the effective price of the option if seismicity is not rail for the entire region to be assessed, it is in turn the price your company must be willing to pay for the greater flexibility of a seismic option. In early 1999, Cec Keeping organized a group of geophysical managers concerned about various producing companies. This group, later called Chief Geophysicists` Forum, intended to study common geophysical issues for the exploitation of production/exploration companies. The meetings, first organized by Cec Keeping with the help of Sigma Explorations Inc., and then sponsored by CSEG and Canadian Forest Oils by Doug Uffen and Ken MitcheII, began to study some contemporary issues in the oil industry. One of the results of this group was the creation of a joint CSEG/CAPL sub-committee to study the issue of joint seismic enterprise agreements and their standardization. The first results of this committee`s efforts will be presented here and will also be made available on the CSEG website as well as at the CSEG lunch on 23 November. It is hoped that the broad presentation of this working document will elicit comments from CSEG members, which will enable the outcome document to meet virtually 80% of the needs of the geophysical community. The seismic data described in this agreement are not communicated to a third party for a period of one year without the written consent of the co-owners.

After this period, the data can be used in a show and tell, a workstation interpretation in your own home, or a workstation interpretation in a secure off-site facility. Copies of seismic data or maps must not leave the co-owners` office. Successor undertakings shall be bound by this Agreement and shall be Parties. The co-owners of the seismic data have proportional ownership of all data and are entitled to a copy of all seismic data, as defined in this document. Given that this document recognizes seismic data as the property of the owners, do the owners have the right to use their interest in the data in the following way: hierarchy of agreements – AMIs, JOas, entities – that are subordinate? This Agreement applies to all seismic data collected by the Operator on behalf of the Joint Tenants, as set out in Annex A and displayed on the map attached to Annex B. You have two alternative approaches that can prove to be much more advantageous.