Virginia Memorandum Giving Notice of Exploration Agreement Creating An Area of Mutual Interest, Which Contains A Preferential Purchase Right
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How to fill out Memorandum Giving Notice Of Exploration Agreement Creating An Area Of Mutual Interest, Which Contains A Preferential Purchase Right?
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FAQ
An area of mutual interest (AMI) contract describes the geographic area contained in the AMI, the rights of each party (such as the percentage interest allocated to each company), the agreement's term, and how contract provisions are to be implemented.
Area of Mutual Interest (AMI): a geographic area generally defined by a contract (e.g., Farmout, JOA, JDA or similar agreement) within which two or more persons hold an interest.
1. n. [Oil and Gas Business] The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.
