RE:RE:RE:cost recovery 101Why you won't post the link to BNK's Petroleum Agreement is beyond me. In any case,
thanks to Lordlskander, I do have the Petroleum Agreement for Petromanas, V.PMI
and you can confirm or deny similarities.
Operating Expenses means all direct and indirect costs, expenses and
expenditures made after the Date of Initial Commercial Production, which
costs, expenses and expenditures are not normally depreciable, including
operation, maintenance and servicing of all types of facilities required
for Petroleum Operations, including, without limitation, human health,
safety and environmental protection costs and compliance. Operating Expenses
shall include workover, repair and maintenance of assets, but shall not
include any of the following: sidetracking: re-drilling and changing the
status of a well: replacement of assets or part of an asset: additions,
improvements, or renewals that extend the life of the asset.