Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Re: Operations Update... Java40
1
Nov 27, 2014 02:25AM

Nov 28, 2014 03:36PM

Dec 01, 2014 06:38AM

I am fairly sure that with NIS plugging and abandoing the Besa D well that the shallow Alygo play is dead. The question now is what will NIS do with the deep Mako trough - as the data room in Hungary will show a great deal of promise for the right exploration company, especially given that the Mako 7 and Mako 4 wells can be re-entered and tested for a great deal less than drilling a brand new well. Hopefully we hear something positive by year end, but from Phillip's comments in the past - he is not really counting on Hungary to be a game changer for Falcon - given all the past negativity when Exxon abandoned the project after just one deep well. My expectations are for NIS to commit to re-entering one of the existing wells for a limited test of the Szolnok formation which is the most promising for gas and the shallowest of the deeper Mako zones.

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