Seismic License Agreement

3.1 This framework agreement establishes uniform and binding conditions for seismic licensing activities between the contracting parties. During the construction of the GW, several consultations were conducted with major industrial parties. An open forum was held on January 17, 2001 to review an LGW project. A questionnaire was completed by forum participants. The GWG Committee analysed the responses to the questionnaire and amended the agreement to best serve the many legitimate concerns and opinions that the forum has made available. The completion of the GG from its design form was largely influenced and made possible by the forum questionnaire. 2.2 No explicit or implied ownership rights are granted to the licensee under this master contract or license with respect to licensed data. All data rights, including global intellectual property rights, are and remain the exclusive and exclusive property of the licensee. The availability of “cheap” seismics has created a strong and competitive Gulf exploration market in Mexico compared to other exploration theatres. This competition is now mitigated by merger activities. Mergers reduce the number of potential customers for seismic contractors and their future potential data licensing fees. A Canadian business perspective was used in the creation of this GG, with the parties being considered being oil and gas companies, brokers and some of the service companies that authorized their own seismic data.

The main purpose of this agreement is to codify current reasonable business practices so that the use of licensed seismic data by Canadian exploration and development companies can continue to be efficient and business-oriented. This agreement, while generous in its lack of burdens, clearly defines the obligations and obligations of all parties. All brokers, licensees and licensees who wish to be governed by this agreement individually sign a counterpart of the agreement and a registration of this execution is held with the Canadian Society of Exploration Geophysicists (“CSEG”) in Calgary. The CSEG will publish a list of these participants on its website in order to make them public. Individual licenses are then exported separately (and confidentially) through the use of broker-managed confirmations, with each license subject to the master`s contract. By their own geophysical study or seismic impulses; The inability of one of the parties to exercise a right in any way is not considered to be a waiver of other rights under that framework. Seismic is not responsible for the non-performance of its obligations under this framework if such a failure results from a cause that is not subject to Seismic`s proper control, including, but not limited, mechanical, electronic or communication failures or degradation (including “line noise” interference). If a provision of this agreement proves unenforceable or invalidated, that provision is limited or removed to the minimum necessary to ensure that, otherwise, the agreement remains fully in force and remains effective and applicable. This agreement can only be ceded, transferable or under-licensed by the User with Seismic`s prior written agreement. Seismic may transfer, cede or delegate the agreement and its rights and obligations without consent. This agreement is governed by the laws of the State of California and is interpreted as if it had been concluded within California between two residents, and the parties submit to exclusive jurisdiction and national and federal jurisdiction of San Diego, California.