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in determining such valuation issues. To the extent that the
Arbitrator refers to any authority or information which he
believes is not usually relied upon in the petroleum/gas industry
in making similar determinations, such reference(s) should be
specifically detailed in or attached to his “Findings”.
4. ARBITRATION PROCESS. Given the Arbitrator’s unique
knowledge of the facts underlying the Issues listed in paragraph
2 above, coupled with both parties’ confidence in the
Arbitrator’s good faith and neutrality in this arbitration, the
parties agree that there is no need for either party to submit
testimony, expert reports, written summaries or affidavits
supporting their respective positions to the Arbitrator. The
parties further agree that there is no need for a formal
arbitration meeting of the arbitrator with the parties.
The parties agree that the Arbitrator may request that the
parties clarify the Issues or request any additional information
that the Arbitrator deems necessary, during any phase of the
arbitration process provided all parties are notified of such
requests and are given the opportunity to participate in any
discussions. The parties further agree that there shall be no ex
parte communications between the Arbitrator and a party or agent
for a party and that any information provided to the Arbitrator
must be provided to all parties simultaneously.
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Last modified: May 25, 2011