The Contractor has the right to sign a gas sales agreement before submitting the performance guarantee. However, in any case, the Contractor has the obligation to submit the performance guarantees at the time set out in the Model EPSC Article 5.5 (d): “Prior to the commencement of Hydrocarbon Operations, and prior to each Extension Period, the Contractor shall submit a financial guarantee for an amount equal to the estimated expenditures associated with the Work Programme of the Initial Exploration Period and each Extension Period, and a general guarantee of performance. The guarantee[s] shall be given in such form[s] required by the Ministry of Mines.”