05-09-2016, 01:04 PM
'Palm' pid='68901' datel Wrote:Actually it is not uncommon for JOAs to have clauses which allow "exclusive operations" Katy for obvious reasons. Should an Operator feel the best option is to do X, a JOA participant can choose to sit out of X thereby forfeiting rights to whatever X produces. Most standard JOAs include such language.
Lawyers write clauses to cover all sorts of unknown contingencies but the partners have a mutual interest in making agreements work with minimal conflict (unless someone wants to back out) In this instance, Hession has referred to a joint decision regarding A7. Exclusive operations by the Operator without bringing the others along in agreement can lead to a LOT of problems......but here I don't think we are talking about TOT doing anything on its own (are we?)