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Complex Exploration Agreements; Getting down to Business

Allen D. Cummings, Oil & Gas Agreements: The Exploration Phase (2004)

In this author's experience, the form of exploration agreements is as varied as the companies and individuals who explore for oil and gas and the exploration trades they put together. It would be foolhardy then to suggest there is a usual form of exploration agreement. Moreover, it would be an insurmountable task to analyze and present the law in each jurisdiction that might be applicable to the drafting of the various provisions of a complex exploration agreement. This paper is, therefore, intended only to provide practitioners with a checklist of the issues that may need to be addressed when preparing any exploration agreement.