Oil Gas Opportunity

Oil Gas Opportunity. Means a direct or indirect opportunity to acquire, own, operate, participate in, invest in, manage, lease, market or develop oil or natural gas (or their constituents) properties, fields, interests or prospects owned by third Persons, provided that such opportunity falls within the Company Business Strategy, but specifically excluding any asset, prospect, opportunity, property, field or interest owned, identified or controlled by, any Member or its Affiliates as of the Transaction Closing Date.... Each Oil & Gas Opportunity shall be further classified as a "Potential Oil & Gas Opportunity" or a "Definitive Oil & Gas Opportunity," as follows: (i) an Oil & Gas Opportunity that is not a Definitive Oil & Gas Opportunity shall be classified as a "Potential Oil & Gas Opportunity"; (ii) an Oil & Gas Opportunity, the terms of which are set forth in complete, definitive documentation, the execution and delivery of which would create an enforceable agreement among the parties thereto, shall be classified as a "Definitive Oil & Gas Opportunity". View More