17. A petroleum available for cost recovery in a particular year that is in excess of the amount necessary for cost recovery is referred to as ------- a. Profit oil b. Cost recovery oil c. Excess cost petroleum d. Royalty e. Cost oil cap

18. In some contracts the contractor is required to set aside a portion of its share of production for sale in the local market. This provision is referred to as ----- -------- a. Capital uplift b. Profit oil split c. Relinquishment d. Domestic market obligation e. None of these

19.In a --------------, the contractor pays all of the costs and assumes all of the risks related to exploration, appraisal, development, and production activ- ities. If production is attained, the contractor is, in return, allowed to recoup its costs as production is sold, and in addition, receives a fee typically based on production. a. Lease b. Production sharing contract c. Risk service agreement d. Concession agreement e. Nonrisk service agreement

20.Desirably, a company should have a reserve replacement ratio of at least 1. a. True b. False