The secretary of state for trade and industry and atlantic petroleum uk limited

Download 152.86 Kb.

Page	3/3
Date	11.02.2018
Size	152.86 Kb.
	#41088

1 2 3

Schedule 1 Clause 2

Description of Licensed Area

Block 110/9c is bounded by straight lines joining the following co-ordinates:

(1) 53° 45' 00.000"N 3° 21' 00.000"W

(2) 53° 45' 00.000"N 3° 17' 00.000"W

(3) 53° 40' 00.000"N 3° 17' 00.000"W

(4) 53° 40' 00.000"N 3° 21' 00.000"W

(5) 53° 45' 00.000"N 3° 21' 00.000"W

These co-ordinates were specified using "European Datum 1950".

Block 110/14e is bounded by straight lines joining the following co-ordinates:

(1) 53° 40' 00.000"N 3° 21' 00.000"W

(2) 53° 40' 00.000"N 3° 12' 00.000"W

(3) 53° 39' 00.000"N 3° 12' 00.000"W

(4) 53° 39' 00.000"N 3° 12' 20.000"W

(5) 53° 38' 40.000"N 3° 12' 20.000"W

(6) 53° 38' 40.000"N 3° 12' 35.000"W

(7) 53° 38' 00.000"N 3° 12' 35.000"W

(8) 53° 38' 00.000"N 3° 15' 00.000"W

(9) 53° 36' 00.000"N 3° 15' 00.000"W

(10) 53° 36' 00.000"N 3° 12' 00.000"W

(11) 53° 35' 00.000"N 3° 12' 00.000"W

(12) 53° 35' 00.000"N 3° 22' 00.000"W

(13) 53° 37' 30.000"N 3° 22' 00.000"W

(14) 53° 37' 30.000"N 3° 24' 00.000"W

(15) 53° 38' 00.000"N 3° 24' 00.000"W

(16) 53° 38' 00.000"N 3° 21' 00.000"W

(17) 53° 36' 00.000"N 3° 21' 00.000"W

(18) 53° 36' 00.000"N 3° 19' 00.000"W

(19) 53° 39' 00.000"N 3° 19' 00.000"W

(20) 53° 39' 00.000"N 3° 21' 00.000"W

(21) 53° 40' 00.000"N 3° 21' 00.000"W

These co-ordinates were specified using "European Datum 1950".

Schedule 2 Clause 9

Consideration for Licence

Periodic minimum payments	(1) On the date on which the Initial Term begins (“the said date”) or upon the grant of this Licence, whichever is the later, and on subsequent anniversaries of the said date during the term of the Licence, the Licensee shall pay the Minister sums (in this Schedule referred to as "periodic payments") calculated as follows: (a) upon the said date, £150 multiplied by the area factor; (b) upon the 1st anniversary of the said date, £150 multiplied by the area factor; (c) ” 2nd ” £150 ” (d) ” 3rd ” £150 ” (e) ” 4th ” £300 ” (f) ” 5th ” £1200 ” (g) ” 6th ” £2100 ” (h) ” 7th ” £3000 ” (i) ” 8th ” £3900 ” (j) ” 9th ” £4800 ” (k) ” 10th ” £5700 ” (l) ” 11th ” £6600 ” (m) upon the 12th and every subsequent anniversary of the said date, £7500 multiplied by the area factor.
	(2) The payments specified in sub-paragraph (1) above shall be subject to variation in accordance with the following provisions:
	(a) The periodic payments shall be increased or subsequently reduced in line with movements in the Index of the Price of Crude Oil acquired by Refineries (published in the Digest of UK Energy Statistics) if the Minister so determines. The Minister shall give notice of any such determination ("biennial determination") during the month preceding the eighth anniversary of the date of commencement of this Licence or any subsequent two-yearly anniversary of that date, and shall specify in the notice the increase or reduction in the amount payable. Movements in the Index shall be calculated by reference to a comparison between the arithmetic mean of the Index levels for the two latest calendar years for which figures are available at the time when the determination is made, and the arithmetic mean of the Index levels for 2003 and 2004. In the event that the Index of the Price of Crude Oil acquired by Refineries ceases to be published the Minister may substitute arrangements for redetermination of periodic payments having substantially similar effect to those set out above based on such other comparable Index as he may determine.
	(b) The increase or reduction specified in a biennial determination shall be payable or take effect on the anniversary of the date of commencement of this Licence next following the date of the relevant determination.
	(c) No biennial determination shall have effect so as to reduce the periodic payments below the levels set out in sub-paragraph (1) above.
	(d) The Minister shall not make a biennial determination increasing or reducing the amounts payable where that increase or reduction would be 5% or less of the levels set following the previous biennial determination.
	(3) In this Schedule “the area factor” means the number of square kilometres comprised in the Licensed Area at the date upon which the periodic payment in question becomes due.

Schedule 3 Clauses 4 and 12

Work Programme

Firm commitment

The Licensee shall obtain 30km² of 3D seismic data.

Drill-or-drop commitment

The Licensee shall either:

drill a well to evaluate the Ormskirk Sandstone (c. 1220m), or
elect to allow the licence to automatically cease and determine pursuant to Clause 3.

Nothing here fetters the Minister’s discretion when considering whether to consent to any specific activity.

Schedule 4

Companies

ATLANTIC PETROLEUM UK LIMITED (registered number: 04395761) of 14 COACH AND HORSES YARD, SAVILE ROW, LONDON, W1S 2EJ,

CHALLENGER MINERALS (NORTH SEA) LIMITED (registered number: SC274666) of LANGLANDS HOUSE, HUNTLEY STREET, ABERDEEN, AB10 1SH,

DYAS UK LIMITED (registered number: 04024945) of BROADWALK HOUSE, 5 APPOLD STREET, LONDON, EC2A 2HA,

FIRST OIL EXPRO LIMITED (registered number: 01021486) of 21 REGATTA HOUSE, TWICKENHAM ROAD, TEDDINGTON, MIDDLESEX, TW11 8AZ,

PROVIDENCE EXPLORATION (GB) LIMITED (registered number: 05826629) of 5 JUBILEE PLACE, LONDON, SW3 3TD,

Execution Page

In witness whereof, these presents typewritten on this and the preceding pages are executed follows:-

THE Corporate SEAL OF THE
SECRETARY OF STATE FOR
TRADE AND INDUSTRY

hereunto affixed is authenticated by:

,
an official in the Department of Trade & Industry.

Signed for and on behalf of ATLANTIC PETROLEUM UK LIMITED by: