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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Message: MOL AGM April 23, 2009

>Documents for the AGM - even longer at 108 pages. Will wait for lanman to wade through it. :-)



I already did, that's where I got the previous paragraph from



In addition, we continued the partnership with ExxonMobil. In 2008 significant steps were made to evaluate and explore the unconventional exploration potential of Hungary, having significant 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 a further share of interests 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). Three wells drilled in Makó Basin (unconventional gas accumulation) in partnership with ExxonMobil and TXM were in progress at year-end.

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