Definition of Prospecting costs

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Prospecting costs

The term 'Prospecting costs' as it applies to the area of energy can be defined as ' Direct and indirect costs incurred to identify areas of interest that may warrant detailed exploration. Such costs include those incurred for topographical, geological, and geophysical studies; rights of access to properties in order to conduct such studies, salaries, equipment, instruments, and supplies for geologists, including geophysical crews, and others conducting such studies; and overhead that can be identified with those activities'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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