Structuring your farmin in an unconventional world
Jonathan Fulcher A , Martin Klapper A and Damian Roe AHopgoodGanim.
The APPEA Journal 54(2) 528-528 https://doi.org/10.1071/AJ13101
Published: 2014
Abstract
This extended abstract and its presentation explore the legal aspects of good planning and implementation of a successful farmin—from the perspectives of the farmor and the farmee. Among other things, this extended abstract addresses the common and some unusual farmin obligations and structures available to achieve the purpose of the farmin. A common issue is when the tenement interest is transferred—the presentation discusses at the implications. The position under relevant tax and state duty rulings are also examined. The presentation further addresses the farmin program and structuring impacts of force majeure, permit commitments and overlap in a multistage farmin; and, the development of a joint operating agreement (JOA) that could start during or after farmin obligations are completed. The implications of different majority voting percentages in an operating committee under a JOA, which starts about the same time as a farmin in which participating interest shares increase in stages (also be briefly examined).
Jonathan is a partner in HopgoodGanim’s Resources and Energy practice working on oil and gas transactions, infrastructure developments, joint venture arrangements, asset and share sales, and acquisitions across Australia and internationally. In particular, he advises on mining and petroleum negotiations, all aspects of tenement management, both offshore and onshore, due diligence, petroleum leases, joint ventures and farmin agreements. In addition to his general resources work he is one of Australia’s leading (Band 1) native title lawyers, as ranked by Chambers Asia-Pacific for the past seven consecutive years. With an impressive academic resume, Jonathan has authored numerous publications that have shaped Australia’s native title landscape. |
Head of HopgoodGanim’s national Resources and Energy practice, Martin has advised on some of the country’s most significant resources and public infrastructure projects for both public and private sector organisations. With more than 20 years’ experience, he has developed a reputation as one of the most effective and sought after energy and resources lawyers in Australia. He has been named a leading Australian Energy and Natural Resources lawyer in Chambers Asia-Pacific (2012, 2013, 2014), ranked in The International Who’s Who of Oil & Gas Lawyers (2011, 2012) and in 2013 was named as one of the Best Lawyers in Australia for oil and gas by the Australian Financial Review. A founding member of the Australian Coal Seam Gas Council, Martin’s role saw him developing legislation, drafting submissions and negotiating with Government, giving him the insight to approach legal matters with the ‘bigger picture’ in mind. Martin is a former President of AMPLA, the Resources and Energy Law Association. |
Damian Roe is a senior associate in HopgoodGanim’s energy and resources section. Damian advises on all aspects of energy and resources law, and specialises in oil and gas, commercial contracts, native title and cultural heritage. Damian’s focus is on providing practical, commercial and effective advice to the oil and gas industry. Damian also has experience advising on major infrastructure projects including coal export terminals, oil and gas pipelines and rail infrastructure construction and management. Before joining HopgoodGanim, Damian worked as a senior state negotiator with Indigenous Services at the Queensland Department of Environment and Resource Management representing the state in native title negotiations. |
