THIS AGREEMENT is made and entered into this ____ day of July, 2009 by and between:

 

XXXX, a company organized and existing under the laws of The Netherlands, having its headquarters at Suite 3308, Two Exchange Square, Central, Hong Kong (hereinafter referred to as “XXXX”) of one part; and

 

XXXX Inc., a company organized and existing under the laws of the Republic of Liberia having a place of business at XXXX, Beijing, XXXX People’s Republic of China (hereinafter referred to as “XXXX”) of the other part. 

 

XXXX and XXXX are hereinafter referred to individually as “Party” and collectively as “Parties”.

 

 

 WHEREAS, XXXX is the legal and beneficial owner of a one hundred percent (100%) Participating Interest in and under the PSCs in its capacity as Contractor thereunder;

 

WHEREAS, XXXX is willing to assign a fifty percent (50%) Participating Interest under the PSCs to XXXX in accordance with the terms set forth herein and XXXX wishes to acquire such Participating Interests; and

 

NOW THEREFORE, in consideration of the mutual arrangements set out below, XXXX and XXXX agree as follows:

 

4.1              In consideration for the assignment of the PSC Interests, XXXX agrees to pay the Consideration as follows:

 

A.                XXXX shall pay to XXXX an amount of US$XXXX for costs incurred under the PSCs prior to the Effective Date, in accordance with Article 4.2.

 

B.                 XXXX shall pay to XXXX all costs incurred in the proper execution of the 2009 portion of the Phase 1 Work Program up to US$XXXX following the Effective Date, in accordance with Article 4.3.

 

C.                 XXXX shall pay to XXXX all costs incurred in the proper execution of the 2010 portion of the Phase 1 Work Program up to US$20,000,000.00, in accordance with Article 4.3. 

 

D.                Following the Phase 1 Work Program, and provided XXXX exercises the Phase 2 Option and acquires the PSC Interests, XXXX shall carry XXXX’s Participating Interest share of costs incurred in the proper execution of such Phase 2 Work Program up to US$76,000,000.00, in accordance with Article 4.4.

 

E.                 XXXX shall pay to XXXX Contingent Milestone Bonuses in accordance with Article 4.5.

 

4.2              Cash Consideration.  XXXX agrees to pay XXXX the amount of US$XXXX set forth in Article 4.1A for costs incurred under the PSCs prior to the Effective Date.  This amount shall be paid by XXXX in cash to a designated bank account in XXXX’s name within three (3) days after execution of this Agreement and XXXX providing Security as required by Article 3.8.

 

4.3              Phase 1 Work Program.  XXXX agrees to carry XXXX's Participating Interest share of costs properly incurred under the Phase 1 Work Program after the Effective Date in accordance with and subject to the following:

A.                The Phase 1 Work Program is attached hereto as Annex C. Any modification to the Phase 1 Work Program or its implementation shall be agreed by XXXX and XXXX.  

B.                 XXXX’s payments to XXXX under Articles 4.1 B and C will be made to the Operator against fully justified monthly cash calls issued in accordance with the Interim Period Operating Principles. 

C.                 The Phase 1 Work Program shall be executed by XXXX as Operator under the PSCs with the support of XXXX, and XXXX shall use reasonable efforts to complete the Phase 1 Work Program prior to December 31, 2010. 

D.                The Phase 1 Work Program carry shall be deemed to be satisfied at the earlier of: (1) XXXX having paid to XXXX a cumulative amount of US$30,000,000.00 under the Phase 1 Work Program in accordance with Articles 4.1B and 4.1C; or (2) on December XXXX

E.                 All costs associated with the Phase 1 Work Program and, in particular, for the drilling and testing and/or plugging and abandoning of the wells included in the Phase 1 Work Program, shall be submitted for cost recovery, pursuant to the PSCs. XXXX shall be responsible for all costs incurred under the Phase 1 Work Program above the carry amount of US$XXXX.

F.                  If XXXX fails to complete the drilling operations specified in the Phase 1 Work Program, XXXX has the option to either extend the Phase 1 Work Program or to deem the Phase 1 Work Program carry to be satisfied.

G.                During the course of all drilling operations under the Phase 1 Work Program, XXXX will be permitted to have a reasonable number of selected expert personnel, subject to XXXX approval, on the drilling rig(s)/at the drilling sites and in XXXX’s Zhengzhou operations and management office.  In addition, XXXX may offer to provide services under a technical services agreement to facilitate and assist the Operator. Notwithstanding the foregoing, expert personnel will be permitted access subject to their compliance with XXXX’s internal policies, procedures and management processes.

 

Beijing Chinese Translation Service Company has translated many documents about FARMOUT AGREEMENT.

 

转让协议

 

本合同由下列主体于2009年7月 ____日  制定签署：

 

XXXX.,一家依据荷兰法律注册并存在的公司，总部地址位于香港中环交易广场2208室（以下简称“XXXX”）；和

 

XXXX中国有限公司,一家根据利比里亚共和国法律注册存在、在中华人民共和国北京市朝阳区XXXX注册了分支机构的公司（以下简称“XXXX”），邮编XXXX

 

 

以下单独称XXXX或XXXX为“一方”，合称两家公司为“双方”

 

 

鉴于，XXXX作为合同项下的承包商是产品分成合同的合法所有人，享有100%的参与利益；

鉴于，XXXX意愿将产品分成合同下百分之五十（50%）的参与利益按照下列条款的规定转让给XXXX，XXXX愿意获得上述参与利益；并且

 

因此,在双方协商讨论后，XXXX与XXXX达成以下协议：

 

 

4.1              就产品分成合同下利益的转让，XXXX同意按照以下规定支付对价:

 

F.                   XXXX将按照第4.2.条的规定将产品分成合同下在生效日之前产生的成本费用XXXX美元支付给XXXX

 

G.                XXXX将按照第4.3.条的规定将生效日后产生的执行第一阶段工作项目2009年度的所有费用：XXXX美元支付给XXXX。

 

H.                XXXX将按照第4.3.条的规定将执行第一阶段工作项目2010年度的所有费用： 20,000,000.00美元支付给XXXX

 

I.                   第一阶段工作项目完成后，如果XXXX选择进入第二阶段并且获得产品分成利益，XXXX将按照第4.4条的规定承担XXXX方应按照分成比例支付的在第二工作阶段产生费用： 76,000,000.00美元。

 

J.                   .XXXX将按照第条的规定支付给XXXX未来可能发生的里程碑分红。

 

4.2             现金对价. XXXX同意将第4.1A条规定的生效日之前产品分成合同下产生的费用XXXX美元支付给XXXX。该笔款项将由XXXX在本协议生效日后三（3）天内并且XXXX按照第3.8条的规定提供担保后，以现金形式向以XXXX名义开设的指定银行账户支付。

 

4.3             第一阶段工作计划.  XXXX同意按照下列规定承担XXXX方按照分成比例应当支付生效日后第一工作阶段产生的费用：

H.                第一阶段工作计划详见本协议附件C。任何有关第一阶段工作计划以及其执行情况的更改都需去的XXXX和XXXX双方的同意。 

I.                   XXXX按照第4.1 B条以及第4.1C条的规定应当支付给XXXX的款项，应当按照根据过渡时期工作原则合理提出的支付要求，每月以现金形式支付给运营商。

J.                   第一阶段工作计划将由XXXX作为产品分成合同下的运营商在XXXX的协助下执行。XXXX将使用合理努力在2010年12月31 日前完成第一阶段工作计划。

K.                第一阶段工作计划在下列日期视为完成，以先发生的日期为准：（1）XXXX根据第4.1B条和第4.1C条的规定在第一阶段工作计划中已累计支付给XXXX美元；或者（2）2010年12月31日。

L.                 所有与第一阶段工作计划有关的费用，特别是在第一阶段工作项目中发生的钻探，测试和/或挖井、弃井的费用，应当按照产品分成合同作为回收成本提交。XXXX将对第一阶段工作计划中产生的超出XXXX美元的所有费用负责。

M.               如果XXXX未能完成第一阶段工作计划中规定的钻井任务，XXXX享有选择权，可以选择严惩第一阶段工作期限，或者选择视第一阶段工作任务已完成。

N.                在第一阶段工作计划内所有的钻探工作进行中，允许XXXX在获得XXXX的批准后，选择派遣合理数量的专家人员进入钻探平台/钻探地点以及XXXX的郑州运营地和管理办公室。另外，XXXX可以按照有关技术服务协议的规定向运供应商提供支持和帮助。但尽管存在上述规定，专家人员享有的通行权利仅以遵守XXXX内部规章，程序和管理措施为限。

 

 

 

原件下载：