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80gg481PAGE117VIRGINIA:BEFORE THE VIRGINIA GAS AND OIL BOARD IN SUPPLEMENTAL ORDER REGARDING DOCKET NUMBER VGOB9803/24Q632ELECTIONS: UNIT W37 (herein “Subject Drilling Unit “) REPORT OF BOARD
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How to fill out division of mines
How to fill out division of mines
01
To fill out division of mines, follow these steps:
02
Begin with the heading 'Division of Mines'
03
Provide the details of the mine being divided, including its name and location
04
Specify the ownership structure of the mine, mentioning the names of the parties involved
05
Determine the division percentages for each party. This can be based on investment, contribution, or any other agreed criterion
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Clearly mention the rights and responsibilities of each party with regards to the mine's operations, profits, and liabilities
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Include any additional terms and conditions that need to be addressed
08
Sign and date the division of mines document, ensuring all parties involved are present
09
Make copies of the division of mines document for all parties involved for future reference
Who needs division of mines?
01
The division of mines is required by individuals or companies who wish to jointly own and operate a mining project.
02
It ensures clarity and fairness in the distribution of mining rights, profits, and responsibilities among the parties involved.
03
By having a division of mines document, potential conflicts and disputes over ownership and operations can be effectively resolved.
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