There was this article today in the Delmagyar.hu. But then, even before I was finished with the translation they removed the original article and replaced it with somewhat similar but different article.

Here it is, both of them :)

This is the original…..

Abandoning further testing at Földeák-1 well

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The Canadian Oil and Gas Ltd. Falcon temporarily abandoning research at the Földeák-1 well because of unfavourable test result.

The Canadian company made the announcement on Monday barely a month after the October 9 announcement that his partner, ExxonMobil Hungary (Makó) Limited has proposed to seize research at the well due to unfavourable test results.

Somlyai Dóra, communication director of the Hungarian MOL Nyrt said on Tuesday that the partners now evaluating the results of the research program and the continuation of this program will be decided later.

On October 9, Falcon announced that ExxonMobil has completed its testing at two intervals at 4358 and 4200 meters. Both intervals have produced significant amount of water that indicates that they have encountered natural fractures near a subterranean water reservoir. The Canadian company has indicated they are likely to stop the testing.

Since then new testing has been carried out, and now at 3850 meters, again with unfavourable results. During the 130 hours testing period the initial 560 cubic meter gas per day fell to 200 cubic meters per day, but at the same time the water volumes also fell from 540 cubic meters per day to 50 cubic meters per day.

Based on results from the third interval Falcon has decided to temporarily stop further research on this well.

The high price of energy and the advancement of the technology to extract gas from unconventional gas fields; have been attracting foreign investors to Hungary to explore its unconventional fields.

In the search for gas in the Makó trough, Falcon is accompanied by its partners MOL and ExxonMobil subsidiary, ExxonMobil Exploration and Production Hungary Ltd. (ExxonMobil) as well.

In its communication last April MOL indicated, in the case of successful research program in the Makó Basin, development and production is expected to start in 2012-2014. At the time of signing the agreement with MOL and ExxonMobil the first phase schedule called for to drill 4-6 wells in the Makó-West area in 2008-2010. In the Makó-East area the first phase schedule called for to reopen existing wells to test, and if necessary, drill new ones.

The research in the Makó-West area shared by MOL and ExxonMobil's with 50-50 percent interest each. While the Makó-East area shared by Falcon, MOL and ExxonMobil with 33.3 percent each.

The important part of the research is to formulate a plan to find the target zones where the gas accumulated and the implementation of the technology that brings the gas to the surface. ExxonMobil already have such technology, which they developed in the gas fields in North America. However, the technology may need to be adapted, and MOL is confident that ExxonMobil's technology can be successful in the Makó Trough.

The drilling is risky: According to the experts at MOL, the drilling and the depths are not the problems by themselves; the risk is in the high temperatures and high pressure, and in the application of the technology that is used to open these wells. Although, it is true that in North America 25-30 per cent of the gas is produced with non-conventional technology.

In the conventional gas field the drilling depth is 2-3 km, and the cost is 2-4 million dollars per well. The non-conventional well’s drilling cost is 8-12 million dollars, and the depth is between 2.5-5.5 km.

The 1567 square kilometres Makó Basin, according to the earlier high precision surveys contains an estimated 2 billion barrels of recoverable industrial hydrocarbon equivalent that’s corresponds to 340 billion cubic meters of gas. The Makó Basin - with the current technological knowledge, drilling 50 wells per year – could produce 30% of it in the next 30 years.

http://www.delmagyar.hu/mako_hirek/a_falcon_sem_kutat_tovabb_foldeak-1-nel/2123462/

This one is the replacement....

Földeák - the Canadian Falcon temporarily abandons research at the Földeák-1 well. This was announced Tuesday in Canada. The currently the three partners, Falcon, ExxonMobil and MOL are evaluating the results of the research for further development in the Makó Trough.

For the time being no further work is carried out by Falcon at the Földeák-1 well.Management from the Canadian company announced on Tuesday one month after ExxonMobil the other company that is involved in the gas exploration, have suggested to suspend further operation at the well because of poor results- lots of water, not enough gas. That time Falcon was still hopeful: Marc. A Bruner CEO suggested that further tests should be carried out since there was enough money within $ 50 million budget that was set aside for phase one. But, ExxonMobil felt that it did not even worth a try. However, the third test was completed with similar bad results; therefore Falcon also decided that at this point not to carry on further. Most likely they have encountered a natural fracture into a layer of water reservoir.

“This doesn’t means that there’s no merit in further exploration in the Makó Trough" - said Bruner last month. Falcon currently has five sites to try, deeper than the Földeák-1 well. About these, we would have liked to askGyörgy Szabó Executive Director of Falcon’s Hungarian subsidiary TXM Kft, but he could not be reached.

In addition to the two companies from overseas, the Hungarian MOL also participating in the undertaking. The Hungarian company's communications director, Somlyai Dora said to MTI that the three companies currently assessing the results from the work, the decision whether to continue will be made later. According to plans from April of last year, if the exploration program is successful, then production could start from 2012 to 2014.