LOF & Fiscal Term

Which of the following periods require the fulfilment of Exploration Minimum Work Commitment?

• Exploration

• Development

• Production

______ is the amount of money desired by the country or its representative.

• Signature Bonus

• State Royalty

• Profit Split

Which TWO of the following are included in the Exploration Minimum Work Commitment?

• Seismic program

• Appraisal well

• Microbial study

What are the TWO significances of fossils discovered during geological fieldwork?

• Age indicator

• Confirmation of depositional environment

• Hydrocarbon accumulation indicator

The TWO uses of aerial photography are____ and ______.

• To directly generate maps

• To collect detailed measurements of surface features

• To determine the environmental conditions

"Geochemical sampling ascertains the presence of hydrocarbon that may indicate the presence of mature source rock in the subsurface"

• True

• False

"A Hydrocarbon Play can contain only one prospect". This statement is _____.

• True

• False

Exploratory or Wildcat drilling provides ________.

• A detailed sampling of sediment characteristics

• A good image of the subsurface

Which of the following wells is drilled to confirm the presence, extension and commerciality of the discovery?

• Exploration well

• Appraisal well

Which TWO of the following are biddable Fiscal Terms?

• Signature Bonus

• State Royalty

• Profit Split