true or false

13. Test-well contributions are payments made by one working interest owner to another working interest owner of a different Property. T/F Shooting rights are rights granted to the oil company that allow the company access to the property to perform G&G activities, typically prior to obtaining a mineral lease G&G costs include all the cost to locate and identify properties with the potential to produce commercial quantities of oil and natural gas. T/F G&G costs are allowed must be capitalized as assets under international GAAP if the costs can be identified with a particular structure (a field) by year-end. T/F 14. 15. 16. 17 In a Dry-hole agreement, Company A agrees to pay Company B a certain sum if the well being drilled by Company B reaches a specified depth or beyond. T/F In a Bottom-hole agreement, one company agrees to pay another company a specified sum if the well being drilled by that company is dry. T/F Payments for test well contributions represent purchases of research data but are not considered the same as geologic and geophysical studies. T/F The entry under U. S. GAAP for Test Well contribution is: 18. 19 20. Intangible assets Accounts payable 100,000 100,000