Thanks once again John. The reporter did a fairly decent job of the story, but there are still a few facts that are incorrect. It's also a good job there were several reporters at the event, since none of them single handedly covered everything.

On our trip to the so-called Makó trough, György Szabó, director of the Falcon-TXM spoke optimistically about the exploitability of the gas resource that lays dormant 6000-meter deep under the surface.

Too bad Dr. Szabo didn't clear up the misconception that the all of the gas is located at that depth.

"ExxonMobil does not move from the Hungarian market, but only temporarily suspends its activities"

Nice to see him clear that up somewhat.

" the extraction of hydrocarbons already going on, and that is why the connecting pipe line was built to the Algyő distribution station"

Not exactly correct. They might be paying royalties on the Magy gas, but the pipeline is connected to the Mako-6, so it's not being used.

"Falcon has 35 years concession rights to mining activity, of which 15 years already passed, since the research was taken over from a Swedish company called Gustafson by Falcon"

Falcon aquired the Tisza license in Jan 2005, and the Mako license in June 2005. The reporter must not have had a calculator handy :)

He probably means that it's been 15 years since Gustason obtained the licenses.

" Beside this, the drilling costs must be reduced significantly, currently drilling one well cost 40-50 million dollars."

I wonder why they cost so much. After all, originally the plan for phase 1 was to spend $50 million to test existing wells and/or drill 1 or more new wells. And even though the primary focus was on the Szolnok, the secondary focus was supposed to be on the Endrod and Basal Conglomerate. With that in mind, it seems like Exxon was planning on getting a lot more done for their $50 million than what they did.