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

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Same Drilling update, another mention:

In 2008 significant steps were made to evaluate and explore the unconventional exploration potential of Hungary, having several hundreds bcm combined original gas-in-place resource potential. Based on the positive results of a technical study completed by MOL and ExxonMobil by the end of 2007, ExxonMobil launched an unconventional exploration program in the Makó basin covered by exploration licenses owned by MOL. As a result of the agreement signed with TXM in April 2008, MOL and ExxonMobil gained further share of interest covered by the production license of TXM in the Makó basin. As a consequence MOL has positions in all acreages of the Makó basin: in Makó-West (MOL-Esso with 50% Mol share) and Makó-East (MOL-Esso-TXM with 33,5% MOL share) interest areas. Based on technical study activity started with drilling of two exploration wells in 2008 operated and financed by ExxonMobil. The program will continue with drilling of one additional well and testing of drilled wells in 2009. MOL decided to check the unconventional potential of Békés basin by drilling of one well in 2009 to prove the area for next activity. There are several other geological formations located in the Pannonian basin (in the Derecske, Dráva and Zala basins), where exploration of unconventional hydrocarbon can be pursued. The evaluation of these basins potential is ongoing process.

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