Ok Lanman, give me a break will you :) We had company this afternoon, hence the delay.

Hungary will become a gas powerhouse

http://www.blikk.hu/cikk.php?cikk=13...

MAKÓ – 2 years ago the Hungarian press told the world the sensational news that the Canadian-American company Falcon Oil and Gas and its daughter company the TXM Olaj- és Gázkutató Kft. has discovered a giant gas field in the Mako trough that contains an estimated 600 billion cubic meters natural gas. This gas bonanza could provide Hungary’s 15 billion cubic meters yearly consumption for many years to come, but everyone should exercise patients, advises György Szabó CEO of TXM Kft.

“Since the onset of the Russian- Ukrainian gas-war, we have experienced an increased public interest in our exploration results, but I can’t provide anything new in that regard.

In our latest news release, we have stated that we have started to drill a new well, which is targeted at deeper depths than before. I also should mention, that we did not promise any production before 2012-214. Not even our detractors questioning the size of the reserve anymore, still a lot of time need to implement the technology required for the exploitation” explained Mr. Szabó

Falcon with its more than 6000 meter well has set a new Hungarian record, and that is necessary in the Mako field, because in Hungary the hydrocarbons lie in the deep unconventional structure. The technology already tested in the Rocky Mountains does work in high temperature and in the brutal pressure, however, very expensive.

The seismic determination of the reservoir has cost the company $200 million. Many entities are vying for this difficult resource, even though most of them don’t have the expertise or the money to invest for the exploitation. The most futile attempt was by the shaman, at the beginning of the test drillings, who has in the name of the Saint Crown symbolically taken possession of the Mako trough.” It was very difficult to explain to the investors at the Toronto stock exchange,” remembers Dr. Szabó.

Mako attracts a lot of attention, at home and abroad, because the successful production would reduce the Russian dependence.