Changes to Production Sharing Contract

 On 10th December 2018, OMNIS have confirmed and approved changes to the Production Sharing Contract (See Useful Documents Page items 8 & 9, Legal and Fiscal),  and to the Data View Rules and Procedures (See Useful Documents Page item 1 under Data Viewing).

In the Production Sharing Contract, paragraph 6.4 has been changed from:

"Pendant la troisième phase d'Exploration, l'Opérateur, au nom des Parties effectuera,
comme obligations de travaux minima d'Exploration, les activités suivantes :

a.   Le forage de deux (2) Puits d’Exploration au minimum.

Les dépenses minima pour les travaux susmentionnés devront être de [xxxx] dollars US".

To:

"Pendant la troisième phase d'Exploration, l'Opérateur, au nom des Parties effectuera,
comme obligations de travaux minima d'Exploration, les activités suivantes :

a.  Le forage d’un (1) Puits d’Exploration au minimum.

Les dépenses minima pour les travaux susmentionnés devront être de [xxxx] dollars US".

And in the English Version from:

"During the third Exploration phase, the Operator shall on behalf of the Parties perform the
following activities as Minimum Exploration Work Obligations:

a.  The drilling of at least two (2) Exploration wells.

The minimum expenditure for the above-mentioned works shall be US dollar [xxxx]".

To:

"During the third Exploration phase, the Operator shall on behalf of the Parties perform the
following activities as Minimum Exploration Work Obligations:

a.  The drilling of at least one (1) Exploration wells.

The minimum expenditure for the above-mentioned works shall be US dollar [xxxx]".

The Changes to the Data Rules are as follows:

From:

A maximum of four (4) persons per Company may enter the data viewing per visit at any one time. Data viewing duration should normally not exceed two (2) consecutive days; TGS may decide to extend the time if required, based on negotiation and sales` strategy.

To:

A maximum of four (4) persons per Company may enter the data viewing per visit at any one time. Data viewing duration should normally not exceed two (2) consecutive days.

And from:

Up to five (5) screen shots per data  viewing will be allowed;  these will then  need  to go through TGS management be approval before  release to the Companies

To:

Up to five (5) screen shots per data  viewing will be allowed;  these will then need to be approved before release to the Companies

For more information please contact info@madagascarlicensinground2018.com or go to www.madagascarlicensinground2018.com

Madagascar Licensing Round 2018