Identified Property

Identified Property. Means (a) an Oil & Gas Opportunity presented to the Company by a Member; and (b) any other oil or gas (or their constituents) property, field, interest or prospect which the Company from time to time identifies in writing to the Members as (i) the subject of a possible acquisition or investment by the Company, (ii) owned, operated, managed, leased, being developed or engaged in production activities by the Company thereon; (iii) subject to a contract, agreement, or letter of intent, or a... written definitive plan, to acquire by the Company; or (iv) with respect to which the Company has performed, or commissioned due diligence to be performed, thereon. 2 View More