Farm-Out Timeline
| Activities | Days |
|---|---|
| Publication and Posting of PNOC EC's invitation | Day 0 |
| Deadline for submission of Letter of Intent (LOI) | Day 15 (Calendar Days) |
| Pre-Selection Conference | Day 20 |
| Due Diligence of Third Party-Participant upon submission of LOI and signing of Confidentiality Agreement | Day 1 to 59 |
| Deadline for submission of Eligibility Requirements and Proposals | Day 60 |
| Opening of submitted Eligibility Requirements and Proposals; Announcement of Complying Third-Party Participant | Day 60 |
| Evaluation of Technical and Financial Proposals | Day 61 Day 67 |
| Approval of the PNOC EC Board of Directors of the Winning Participant | Within 15 Calendar Days |
| Transmittal of Notice of Award to the Winning Participant; PNOC EC and the Winning Participant finalize and agree on the Farm-in Agreement (FIA), Joint Operating Agreement (JOA) and Deed of Assignment (DA) | Within 15 Calendar Days |
| Review of FIA, JOA, and DA by the Office of the Government Corporate Counsel (OGCC) | Within 20 Working Days |
| Signing of FIA, JOA, and DA by PNOC EC and the Winning Participant; PNOC EC requests DOE's approval of the DA | Within 10 Calendar Days |
| Evaluation and Approval of the DA by the DOE in accordance with DC2007-04-003 | Within 21 Working Days |
