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AGORACOM Wire - Wednesday February 15th, 2012

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Message: Falcon Oil & Gas Provides Update on Foldeak-1 Well Operations In Hungary

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Re: Falcon Oil & Gas Provides Update on Foldeak-1 Well/dirtyboots

posted on Nov 02, 09 01:18PM

In terms of all the informations gathered from NR and the pictures,we know that the parties agreed on an additional frac.The third frac took place on Thursday Oct.22 nd. The well was flowed 5 1/2 days with initial gas flows 20,000 cfpd(560 m3)and 540 m3 water.

The pics from Monday Oct. 26 show the poor flare of the last day of the 130 hours period.The flow rates depleted on day five to 7,000 cfpd(200 m3)and 50 m3 water.

  • The site was very busy on monday and one truck after the other was moving in and out transfering fluids from the well to Szeged,as in the 5 days at least 1500 m3 of water have accumulated on top of the site.We could see 4 big blue tanks on site,of 50 m3 rated tankage capacity each.Hence they could easily store 200 m3 and inject it back to the well in the end.The rest had to be carried off site.No wonder the trucks wer busy due to their tankage of 20 m3.Must have been at least 60 - 90 rides.
  • The trucks stopped their rides on Wednesday and the crews started to dismantle the frac tower on Thursday,while XOM stated in their CC that testing is still going on in the Mako Trough.
  • My last visit on Sunday morning and the pictures show the site competely dismanteled and the remaining equipment ready for evacuation.
  • On monday Bruner had no other option but to release the "news",especially if someone of his gang or employees told him,that he could view a lot of pictures of his deserted F 1 site in the net.
  • To avoid any further consequences his statement was rather kept short,compared to the statement after the second frac,when he inseminated the results as very disappointing.What should one say,after the disappointing 200 000cfpd after the second frac,facing now 20 000 cfpd???
  • Bruner s admixture "....the well has been temporarily plugged and abandoned to allow future access as required....."is a kind of pure cynicism in his awkwardness,only topped in the picture,where the big red wheel for the master valve of the well was attached with a chain to the well cap valve,what is significant for the current situation.In the first moment I thought,they forgot the wheel and it would be a nice souvenir but then I saw the chain.......
  • All what is left is the hope,that XOM will go on after all.Congratulations to XOM, finding out that another frac would be of no use any more.They stayed on top of the things and I guess even the sp itself is hoping XOM not to walk away.
  • The question which kind of water it was,is carrying no weight any more as the story of Földeak 1 is over-I am sorry to say that.
  • Without any water influx they could have had the same results as of Magy 1 or Mako 7.When XOM decides to go on I would appreciate it if they would choose one of these wells next to enter or build a new on one of the sites next spring. I hope that this is the reason why Bruner ordered the paint job.

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Falcon Oil & Gas Ltd. is a global energy company that is focused on acquiring, exploring and developing large acreage positions of unconventional and conventional oil and gas resources. read more