Page 24 - The Persian Gulf Historical Summaries (1907-1953) Vol III

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otherwise provide for an amount up to one-fourth of such excess
for every such year in repayment without interest of such advance
of Rupees Fifty thousand (Rs. 50,000) until the whole of such
advance without interest shall have been repaid.
3. Furthermore the Bahrein Petroleum Company Limited guarantee that His
Excellency Shaikh Hamad will receive not less than Rupees Thirty thousand
(Rs. 30,000) for any one year beginning with the year One thousand nine hundred
and thirty-four Rupees Ten thousand (Rs. 10,000) of which will be the regular
annual rental and the remaining Rupees Twenty thousand (Rs. 20,000) if not
covered by royalties due and payable under the terms of the Concession Agreement
of the Second day of December One thousand nine hundred and twenty-five or
any part thereof not covered by such royalties, will be paid to His Excellency
Shaikh Hamad not later than one month after the end of the year One thousand
nine hundred and thirty-four and each succeeding year it being thoroughly under­
stood that the guarantee of such minimum payment does not constitute guaranteed
minimum royalty under the Mining Lease or a declaration of oil in commercial
quantities within the meaning of Articles IX and X of the Third Schedule to the
Concession Agreement of the Second day of December One thousand nine hundred
and twenty-five.
4. Should application not be made by the Bahrein Petroleum Company
Limited to His Excellency Shaikh Hamad to take up the Lease prior to the Second
day of December One thousand nine hundred and thirty-four the Bahrein
Petroleum Company Limited shall pay to His Excellency Shaikh Hamad
one-twelfth part of Rupees Ten thousand (Rs. 10,000) as for the period Third
December One thousand nine hundred and thirty-four to Second January
One thousand and nine hundred and thirty-five.
Executed the Twenty-first November 1933.
The Bahrein Petroleum Company Limited

By (Signed) E. A. Skinner
Its Chief Local Representative.
(Signed) G. Loch
His Britannic Majesty’s Political Agent, Bahrein.

No. 2
Mining Lease made between the Bahrein Petroleum Company and the Ruler
of Bahrain, Granting the Company Exclusive Rights for Prospecting
Drilling and Constructing Refineries for a Period of 55 years from
January 1, 1935, dated December 29, 1934
Lease made between His Excellency Sheikh Hamad bin Sheikh Issa al
Khalifah Sheikh of Bahrein of the one part, hereinafter called “ the Sheikh ”
(acting on the advice of the British Political Resident in the Persian Gulf) and the
Bahrein Petroleum Company Limited hereinafter called “ the Company ”
(a Company incorporated under the laws of the Dominion of Canada) of the other
part.

Witnesses as follows: —
Article I
The Sheikh hereby grants to the Company on behalf of himself and his
successors the exclusive right for a period of fifty-five years from the first of
January One thousand nine hundred and thirty-five to prospect and drill for,
extract, treat, refine, manufacture, transport and deal with petroleum products,
naphtha, natural greases, tar, asphalt, ozokerite, and other bituminous materials
within the area or areas described in words in the First Schedule to this lease and
delineated on the map attached as the Second Schedule thereto. Such right,
however, shall not include the exclusive right to sell such products within the leased