Re: Falcon Oil & Gas Ltd. enters into binding agreement to acquire an additional 25%
posted on
May 28, 2009 05:05PM
Developing large acreage positions of unconventional and conventional oil and gas resources
Lanman, great finds and reads however with regard to:
"We have two exploration permits that expire in March 2009.
Under Hungarian mining law, if we provide the Hungarian mining authority with a closing report accounting for the results of our exploration on the Tompa exploration permit area and such closing report is approved, for one year after March 2009, we will have the exclusive right to apply for a mining plot designation. "
I read it as the closing report has to be submitted and approved by the expiration date in order to get the one year after expiration date exclusive right to apply for a mining plot.