Re: Exxon on reliance on Unconventional
in response to
by
posted on
Mar 18, 2010 04:21PM
Developing large acreage positions of unconventional and conventional oil and gas resources
Despite these flaterring comments on the importance of unconventional resources, Exxon still decided to leave the Mako trough. This tells me that Falcon's portion in Hungary will not attract much interest as it is a much too difficult nut to crack and Exxon had judged it as not economical. Otherwise why would they leave if it was that wonderful ?
So one should forget about Mako and leave that to garlic production and focus rather on Australia.
You would think after the purchase of XTO, Exxon would have stayed the course in Hungary, if they saw a more than a hope in hell. I won't bet on another partner anytime soon regardless of what Falcon management says.
Forget the garlic, grow corn, and lots of it. Get huge government subsidies for Ethanol production and state "Out with Carbon, in with the Bio". Even better for the environment than NG.
That was a joke.