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Canada’s Falcon Oil & Gas announced last week that the third - and apparently last - fracture test at Hungary’s Földeák-1 well has brought no success, and so the well was temporarily closed .

To a question whether the project that has already consumed tens of billions of forints will be shut down completely or not, the CEO said sooner or later gas will be produced there.

Hernádi said the final results have not yet been fully evaluated but it is already clear that the project has "less prospective" than originally thought.

He reminded though that this is a "non-conventional exploration programme", which means it "demands different professional and technological solutions" than the other projects in MOL’s history.

"The problem is that we don’t know how to extract (the gas) and whether it is worth it." He added, however, that even a pullout would not mean the end of the story only that with the currently available technology and market environment it should not be forced. "There is natural gas in Makó and sooner or later we will bring it to the surface."

http://www.portfolio.hu/en/cikkek.tdp?k=1&i=18885