Paragraph 1 InterpretationI1

In the following clauses the following expressions have the meanings hereby respectively assigned to them, that is to say:—

• “the Act of 1934” means the Petroleum (Production) Act 1934^f1;

• “the Act of 1964” means the Continental Shelf Act 1964^f2;

• “the Act of 1998” means the Petroleum Act 1998^f3;

• “block” means an area delineated on the reference map deposited at the principal office of the Minister’s department;

• “continuing part” has the meaning assigned thereto by clause 5 (the marginal note whereof is “Option to continue licence as to part of the licensed area”);

• “development scheme” has the meaning assigned thereto by clause 25 (the marginal note whereof is “Unit development”);

• “half year” means the period from 1st January to 30th June in any year and the period from 1st July to 31st December in any year;

• “the licensed area” means the area for the time being in which the Licensee may exercise the rights granted by the licence;

• “the Licensee” means the person or persons to whom the licence is granted, his personal representatives and any person or persons to whom the rights conferred by the licence may lawfully have been assigned;

• “the Minister” means the Secretary of State;

• “petroleum” includes any mineral oil or relative hydrocarbon and natural gas existing in its natural condition in strata, but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;

• “surrendered part” has the meaning assigned thereto by clause 5 (the marginal note whereof is “Option to continue licence as to part of the licensed area”);

• “well” includes borehole.

Any obligations which are to be observed and performed by the Licensee shall at any time at which the Licensee is more than one person be joint and several obligations.

Any clause of this licence which refers to any provision of Part I of the Oil Taxation Act 1975^f4 shall, unless the contrary intention appears, be construed as referring to that provision as it has effect for the time being for the purposes of petroleum revenue tax.