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Message: Exxon's election to proceed to the next phase

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solyomtwo

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Re: Exxon's election to proceed to the next phase

in response to Re: Exxon's election to proceed to the next phase by BrunerFan

posted on Nov 26, 09 12:30PM

>What happened to MOL's right to assume Exxon's interest (subject to FO approval)?

The original Production and Development Agreement still be in effect. MOL will have 30 days to decide to exercise its option to continue with its own participating interest, and also have the option to elect to assume Exxon’s participating interest which is subject to Falcon’s approval.

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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