FaultRisk is the best way to calculate volumes for faulted prospects

  • Faulted Prospect Volumetrics

    Faulted Prospect Volumetrics

    FaultRisk generates Allan Maps, calculates Leak Points and integrates this key information with depth area plots to produce distributions of trapped hydrocarbons. Read More
  • Allan Maps Made Useful

    Allan Maps Made Useful

    FaultRisk allows you to apply information at hand to generate Allan Maps and Displacement Profiles. FaultRisk software is simple to install, easy to use and provides fast, accurate results. Read More
  • FaultRisk Gets Results

    FaultRisk Gets Results

    Allan Maps and risk profile data volumetric results feed directly into your volumetric calculations. Timely results mean better decisions, faster. Read More
  • FaultRisk is Accurate

    FaultRisk is Accurate

    With over 6 years of R&D and the analysis of over 3,000 faults, FaultRisk is not only easy to use, it is proven technology. Read More
  • FaultRisk Family of Products

    FaultRisk Family of Products

    Access the power of FaultRisk when, where, and how you need, in a cost effective manner. FaultRisk is available in a variety of options to suit any business or project. Read More
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FaultSeal Terms and Conditions

Set out below are the terms and conditions on which FaultSeal agrees to provide its Services (“Terms”). These Terms incorporate the attached letter. Certain words (denoted by capitalisation) in the Terms have certain specific meanings. These words are defined at the end of the Terms.

Services

FaultSeal will provide the Services to the best of its ability. If you request that FaultSeal perform any additional services (not included in the initial scope of the Services), FaultSeal may, in its absolute discretion, provide such additional services. Such services will be charged at a rate of USD 430.00 per hour or part hour. Such charges form part of the total fee payable by you to FaultSeal. All prices are exclusive of Australian GST.

Estimates*1; please bear in mind that when we give estimates they are given in good faith on the basis of the requirements as we presently understand them. At the beginning of any project, making an estimate is difficult because many of the factors involved in the work are often unknown, hence FaultSeal do not offer fixed price quotes.

Fees and Payments

1. Consultancy estimates are based on an 8 hour day billed at USD 3,440 extra hours worked will be charged at USD 430.00 per hour,

2. If required the use of FaultSeal’s FaultRisk™ Allan Mapping software and services will be charged as per the price list on the website or in the issued proposal or quote,

3. The preparation of an optional detailed report and posters can be quoted for upon request,

4. Work will be charged in advance on a monthly basis based on the work program, or 50% in advance based on the nature of the project.

5. Payment terms are 14 days from issue of the invoice,

6. The project schedule and deliveries maybe affected if invoices are not promptly paid.

7. Quotations are valid 30 days from issue,

8. A service charge of 5% of project value will be charged for non US/European/Australian contracts,

9. A perpetual non-transferable license agreement to use reports produced by FaultSeal as part of this program will be supplied.

10. FaultSeal will invoice you for the Fee payable monthly, and you must pay any such invoices within 14 days of their receipt. Where you fail to pay any such invoice within 15 days of its receipt, you must pay interest on any outstanding amounts at the rate of 15% per annum, calculated monthly from the date on which such payment was due.

11. Payments are to be made by Electronic Funds Transfer (EFT).

 

Travel and Living Expenses

If a FaultSeal employee or consultant is required to travel in relation to the Services, you agree to either:

1. Arrange and pay for necessary business class return air fares or, Reimburse FaultSeal for necessary business class return air fares,

2. Mobilisation / Travel is charged at 1,000 per trip plus the cost of a return business class flight,

3. When deemed appropriate by FaultSeal a country / city security risk assessment will be requested from our security consultant. The assessment will cover an up-to-date analysis of the latest political, operational, security, terrorism and travel developments. The assessment will be charged at cost,

4. If our security consultant advise FaultSeal that executive close protection arrangements – (including the security co-ordination of overseas visits, meeting and greeting of our employees or consultants in-country by our security consultants personnel) you agree to reimburse FaultSeal for these costs,

5. Subsistence (including hotels and meals) is charged USD 550 at per day. Receipts will not be supplied with invoices. If Subsistence exceeds the day rate extra costs will be charged at cost,

6. Hire Car / Taxi’s or other means of transport will be charged at cost.

You agree to reimburse FaultSeal for any expenses incurred in carrying out the Services within 14 days of receiving an invoice from FaultSeal for such expenses.

Insurance

FaultSeal confirms that it or another appropriate entity is insured in respect of public liability and workers compensation for its consultants. You agree that FaultSeal is not responsible for any other form of insurance in relation to the Services.

Taxation and Superannuation

You agree to pay any third party agent fees, stamp duty, and all taxes that may now or in the future be payable in relation to these Terms and the Services. You agree to indemnify FaultSeal for any similar taxes or duties it pays in relation to the Services.

If goods and services tax (“GST”) (or any other tax, levy or government imposition) is payable in respect of any payments made by you for any supply made by FaultSeal under these Terms, the final amount payable to FaultSeal shall be increased by the amount of GST payable.

Submission of Materials / Data

You warrant and represent that any Material / Data:

(a) shall not infringe any third party's copyright, patent, trade mark, trade secret or other proprietary right or rights of publicity or privacy;
(b) shall not violate any law, statute, ordinance or regulation;
(c) shall not otherwise be defamatory, or unlawfully threatening;
(d) shall not contain any viruses, Trojan horses, worms, time bombs or other computer programs and programming routines that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal information; and
(e) is wholly owned and controlled by you or, alternatively, you have the express authorisation of the owner of the Material to provide the Material to FaultSeal.

You warrant and represent that (a) the Material / Data may be used by FaultSeal for other analysis, research, development or services that may be unrelated to the Services provided pursuant to these Terms however any Material / Data shall first be made anonymous as to source, or “anonymised”, before being used; and (b) FaultSeal has the right to make use of the Material / Data for the purposes of these Terms.

Intellectual and Other Property Rights

As part of providing the Services, FaultSeal may provide you with a report or other written or oral assessment related to the Services (the “Report”). The Report may include the Data, the particular results and conclusions of the Services that you engaged FaultSeal to provide (the “Results”) and FaultSeal proprietary information. The “Results” will be clearly identified as such by the words “Results” or “Conclusions” used in the heading of the section of the Report embodying the results and conclusions and shall only include the text or graphics of that section.

All Intellectual Property Rights created by FaultSeal as a result of, for the purposes of, or in connection with the provision of the Services (or any additional services) including all Intellectual Property Rights in the Report (save for the Results and the Material) belong to FaultSeal.

FaultSeal hereby assigns to you all Intellectual Property Rights in the Results. You acknowledge that FaultSeal may use the Results for other analysis, research, development or services that may be unrelated to the Services provided pursuant to these Terms however any Material shall first be made anonymous as to source, or “anonymised”, before being used.

Confidential Information

In these Terms, “Confidential Information” means (whether or not in material form and whether or not disclosed before or after the execution of these Terms), any information of whatever kind disclosed or revealed by a party or any of its officers, employees or agents (the “Discloser”) to the other party or any of its officers, employees or agents (the “Recipient”) or otherwise obtained by the Recipient in relation to these Terms or the Services that: (a) is by its nature confidential; (b) is designated by the Discloser as confidential; or (c) the Recipient knows or reasonably ought to know is confidential. For the sake of clarity, “Confidential Information” includes any Report provided to you by FaultSeal but does not include anonymised Material.

Where the Recipient receives Confidential Information from the Discloser, the Recipient must (a) keep the Confidential Informati confidential; (b) not use, disclose or reproduce the Confidential Information for any purpose other than the purposes of this agreement; and (c) not, without the Discloser’s consent, disclose the Confidential Information to any person other than its officers, employees or agents who need the information for the purposes of this agreement and who have agreed to keep the Confidential Information confidential on terms to the same effect as this clause.

The purpose of this agreement, as it relates to you, is for you to use the Report (if any) solely for your own investigation, exploration and/or exploitation of the reserves and/or potential reserves the subject of the Report. Further, you may disclose the Report to recipients who have received the prior approval of FaultSeal.

The Recipient is not bound by this clause (Confidential Information) in relation to information which: (a) becomes generally available to the public without a breach of this clause (Confidential Information) or any other duty of confidence; (b) the Recipient can prove by contemporaneous written documentation was already known to the Recipient at the time of disclosure pursuant to these Terms (unless such knowledge arose from disclosure of information in breach of an obligation of confidentiality); (c) has been independently acquired from a source other than the Discloser; or (d) the Recipient is required to disclose by law. The onus to prove that an exclusion set out above applies in relation to Confidential Information is upon the Recipient seeking to rely upon that exclusion.

The Recipient must immediately on demand, or on the expiration or termination of these Terms, return to the Discloser any documents in its possession, power or control containing Confidential Information. The Recipient must not retain copies of any Confidential Information in any form.

The Recipient acknowledges that a breach of the confidentiality obligations set out in this agreement by it may cause the Discloser irreparable damage for which monetary damages would not be an adequate remedy.

All of the obligations of confidentiality set out in these Terms continue in full force and effect after this agreement ends.

Termination and Re-Scheduling

This agreement may be terminated by you or FaultSeal on 30 days’ notice whether or not there has been a material breach of these Terms.

If you terminate this agreement in the absence of a material breach by FaultSeal, you must pay FaultSeal’s reasonable costs arising from such termination within 14 days of being invoiced for such costs. Furthermore, if you terminate with less than 15 days notice you must pay for any third-party costs incurred by FaultSeal, and a cancellation fee of USD 5,000.

If you seek to re-schedule an engagement by varying the original commencement date of the provision of FaultSeal’s Services, FaultSeal may elect to terminate this agreement immediately, or to accept the re-scheduling. If FaultSeal does accept and if your notice of re-scheduling is received between the following periods, then the following part-fee payments will be payable immediately by you; (a) between 42 and 28 days from initial commencement date – 20% of the Fee that would otherwise have been payable for the Services had the work commenced on the original commencement date; (b) between 27 and 21 days from initial commencement date – 35% of the Fee that would otherwise have been payable for the Services had the work commenced on the original commencement date; (c) between 20 and 7 days – 50% of Fee that would otherwise have been payable for the Services had the work commenced on the original commencement date; and (d) on less than 7 days notice, 100% of the Fee that would otherwise have been payable for the Services had the work commenced on the original commencement date.

If FaultSeal are advised by our security consultant that the assessment deems travel to the required destination possess risks to FaultSeal employees or consultants FaultSeal may chose not to travel to the destination and / or terminate the Services / Project. Furthermore, if the Services / Project are terminated because of advice received from our security consultant you must pay for any third-party costs incurred by FaultSeal, and an appropriate cancellation fee of not less than AID 5,000.

Indemnity

You will at all times indemnify and keep indemnified FaultSeal and its officers, employees, agents and any related bodies corporate as defined in the Corporations Act 2001 (Cth) (the “Indemnified”) from and against any loss (including reasonable legal costs and expenses) or liability incurred by any of the Indemnified arising from any claim, demand, suit, action or proceeding by any person against any of those Indemnified where such loss or liability arose out of, in connection with, or in respect of: (a) any breach of these Terms by you or your officers, employees or agents; (b) any claim by any entity arising out of the provision of the Services; or (c) any use of the Material by FaultSeal.

Limitation of Liability

TO THE EXTENT PERMITTED BY LAW, FAULTSEAL MAKES NO REPRESENTATIONS OR WARRANTIES IN RELATION TO THE SERVICES SUPPLIED UNDER THIS AGREEMENT, AND EXCLUDES ALL CONDITIONS, WARRANTIES AND TERMS IMPLIED BY STATUTE, GENERAL LAW, INTERNATIONAL CONVENTION OR CUSTOM.

NOTWITHSTANDING ANYTHING ELSE IN THESE TERMS, IF ANY OF THE EXCLUSIONS OR LIMITATIONS SET OUT IN THIS AGREEMENT ARE DECLARED ILLEGAL OR VOID, THEN TO THE EXTENT PERMITTED BY LAW, FAULTSEAL’S LIABILITY FOR BREACH OF A CONDITION OR WARRANTY IMPLIED INTO THESE TERMS BY THE TRADE PRACTICES ACT 1974 (CTH) (OR OTHERWISE) IS LIMITED, AT FAULTSEAL’S DISCRETION, TO EITHER SUPPLYING, REPLACING OR REPAIRING THE GOODS OR RE-SUPPLYING THE SERVICES, IN RESPECT OF THE BREACH.

IN NO EVENT WILL FAULTSEAL (INCLUDING ITS EMPLOYEES OR CONTRACTORS) BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO: PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, INCLUDING CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE PROVISION OF SERVICES UNDER THIS AGREEMENT, EVEN IF IT IS AWARE OF THE POSSIBILITY OF SUCH DAMAGE OR IF SUCH DAMAGE WAS OTHERWISE FORESEEABLE. IN ANY EVENT, AND WITHOUT LIMITING THE EFFECT OF THE OTHER PROVISIONS OF THESE TERMS, FAULTSEAL’S LIABILITY IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE FOR ANY LOSS OR DAMAGE, SHALL NOT EXCEED THE TOTAL AMOUNT PAID BY YOU TO FAULTSEAL DURING THE PREVIOUS 12 MONTHS OR $5000 AUSTRALIAN DOLLARS WHICH EVER IS THE LESSER.

NOTHING IN THIS AGREEMENT EXCLUDES, RESTRICTS OR MODIFIES ANY CONDITION, WARRANTY, RIGHT OR REMEDY IMPLIED OR IMPOSED BY STATUTE OR REGULATION IF IT CANNOT LAWFULLY BE EXCLUDED, RESTRICTED OR MODIFIED.

Entire Agreement, Amendments and Waivers

These Terms and the attached letter constitute the entire agreement between the parties with respect to the subject matter hereof and cancels and supersedes any prior understandings and agreements between the parties. No amendment to these Terms will be valid or binding unless in writing and properly executed by both parties.

Severability

If any provision of these Terms is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability will attach only to such provision or part thereof and remain part of such provision and all other provisions hereof will continue in full force and effect.

Governing Law

These Terms shall be construed and enforced in accordance with the laws of New South Wales, Australia. The parties to this agreement agree to submit themselves to the exclusive jurisdiction of the courts of New South Wales.

Definitions In this agreement

(a) “FaultSeal” means FaultSeal Finance Pty Ltd (ACN 117 892 270) of Suite 7, Level 5, 66 Hunter Street, Sydney and its successors and assigns;
(b) “you” means the company or entity named as the recipient of the Services in the attached letter;
(c) “Services” means those services described in the attached letter;
(d) “Fee” means the applicable rate set out in these Terms multiplied by the days (or part thereof) that FaultSeal spends on the Services, together with all additional costs and expenses payable by you under these Terms;
(e) “Data” means any and all information, input or data provided to FaultSeal by you regardless of its format;
(f) “Intellectual Property Rights” means any and all intellectual and industrial property rights throughout the world including rights in respect of or in connection with any confidential information, copyright (including future copyright and rights in the nature of or analogous to copyright), moral rights, inventions (including patents), trade marks, service marks, designs and circuit layouts whether or not now existing and whether or not registered or registrable and includes any right to apply for the registration of such rights and includes all renewals and extensions.

FaultSeal Report License Agreement

BETWEEN FAULTSEAL FINANCE PTY LTD (ACN 117 892 270) of Suite 7 Level 5 66 Hunter Street, Sydney 2000 NSW Australia (“FaultSeal”); AND you.

Background

FaultSeal has agreed to provide you with certain services. As part of providing those services, FaultSeal will provide you with a report or other written or oral assessment related to the services (the “Report”). The Report may include information, input or data that you provide to FaultSeal (the “Data”), the particular results and conclusions of the services that you engaged FaultSeal to provide (the “Results”) and FaultSeal proprietary information. The “Results” will be clearly identified as such by the words “Results” or “Conclusions” used in the heading of the section of the Report embodying the results and conclusions and shall only include the text or graphics of that section. This Agreement sets out how you may use and disclose the Report. It also sets out who owns different parts of the Report.

Terms

Ownership of Intellectual Property Rights

1 All Reports and Results supplied by FaultSeal to you remain the property of the FaultSeal and any copyright and intellectual property rights granted by FaultSeal to you remain invalid until such time as all monies due in payment have been credited to the FaultSeal bank account in cleared funds.

2 Notwithstanding any other agreement to the contrary, FaultSeal owns all intellectual property rights in the Report save for all intellectual property rights in the Data and the Results.

3 FaultSeal hereby assigns to you all intellectual property rights in the Results. You acknowledge however that FaultSeal may use the Results and the Data for other analysis, research, development or services that may be unrelated to the services that you engaged FaultSeal to provide pursuant to these terms (or otherwise) however any Data shall first be made anonymous as to source, or “anonymised”, before being used.

Your use of the Report

4 You acknowledge that the Report is highly confidential.

5 Notwithstanding any other agreement to the contrary, you agree:

(a) not to disclose the Report to third parties (subject to disclosure permitted under clause 6 below); and
(b) to use the Report solely for your own investigation, exploration and/or exploitation of the reserves and/or potential reserves the subject of the Report.

Permitted Disclosure

6 You may disclose the Report only to:

(a) your officers and employees who:
(i) need to know (and only to the extent that they need to know);
(ii) are aware that the Report must be kept confidential; and
(iii) have agreed to be bound by obligations of confidentiality to the same effect as that contained in this Agreement.

(b) recipients who have received the prior approval of FaultSeal.

Reading the remainder of this document means you have accepted this Agreement.

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