Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

Free
Message: Hungarian news

>I agree.They really can't touch anything else below the ALGYO.

I always thought that is the case according to the PDA. But as I was reading the Production and Development Agreement this evening, something caught my eye.

“The Initial Work Program shall designate those existing wellbores and other facilities for which ExxonMobil accepts ownership, control and operation pursuant to the JOA. Falcon shall retain sole ownership, control and responsibility for those wellbores and facilities not accepted.”

I think Exxon accepted only the Makó-4, Makó-6 and Makó-7 for future testing. So, if the Magy-1 is not in that group of wells then Falcon has the right to do anything with it, including testing the Szolnok and the Endrod formation.

Share
New Message
Please login to post a reply