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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (399645)	7/17/2008 6:36:41 PM
From: average joe	Read Replies (1) \| Respond to of 1578570

Not always... "TO HAVE AND ENJOY the same for the term of One (1) years (herein called the "primary term") commencing on the date hereof and continuing so long thereafter as operations (as hereinafter defined) are conducted upon the said lands, the pooled lands or the unitized lands, with no cessation, in the case of each cessation of operations, of more than 90 consecutive days."

To: Brumar89 who wrote (399645)	7/18/2008 6:49:28 AM
From: Road Walker	Read Replies (1) \| Respond to of 1578570

re: Oil and gas leases expire at the end of their primary term--the 10th year--unless diligent drilling operations are in progress on or for the benefit of the lease; the lease contains a well capable of producing oil or gas in paying quantities... So essentially, if there are "paying quantities" the lease lasts forever. re: The idea that there is some kind of problem getting companies to develop reserves they've paid big bucks to get access to is a particularly ridiculous lie. Leases are competitively bid and big bucks in the form of lease bonuses are paid up front to get leases. And they can't get that money back. Oil companies are profit-seekers and you don't make money not developing economical reserves. Having put down big bucks to get a lease, they will do the exploration work to determine if something economically recoverable is there. They'd be stupid not to. The bucks are not that big and with the asset (oil) increasing in value and becoming more precious there is a strong economic incentive to hoard it. It you owned something that was increasing in value 2 fold a year would you sell it? I wouldn't. But you expect the oil companies to work against their own self interest?