Prospect Payout

Example Definitions of "Prospect Payout"
Prospect Payout. The point in time at which Stone shall have recouped from its share of the proceeds of production from all wells in a Prospect the sum of (i) 100% of its Leasehold Interest Acquisition Costs which are reasonably allocated by Stone with respect to the Prospect plus (ii) all costs related to the acquisition, drilling, equipping, completing, operating and producing all wells drilled in a Prospect.
Prospect Payout. That point in time when the cumulative Proceeds received from the Wells drilled on the Hackberry Creek Project equal the cumulative Acquisition Costs, Seismic Costs, Exploration and Development Costs, and Operating Costs attributable to all such Wells incurred and paid pursuant to the Hackberry Creek Project.
All Definitions