>John, could you please take a look and clarify?
Here it goes Lanman, however this last paragraph is the most interesthing.
"In yesterday’s issue, the HVG reported that Falcon after its unsuccessful attempts at the Földeák-1 well, now they transferring their base to Magyarcsanád-1, where they are preparing for test-production."
What will happen to the Makó gas?
http://www.portfolio.hu/cikkek.tdp?feed=1&k=2&i=124193
2009.11.13 08:38
If there is no production in the Makó Trough by 2012, Falcon Oil & Gas could lose the production licence acquired in May of 2007, and the area would become free again to anyone. However, there is not much chance for that anyone would become interested in the near future - said József Molnár head of the Mining Bureau responsible for the territory – reported in the daily Népszabadság.
Falcon’s subsidiary TXM Kft. received the production licence in 2007 without an actual production, the licence was granted on the vision of technological advancement and the considerable financial commitment indicated a very good chance for the successful exploitation of the gas resource in the Makó trough – József Molnár mining chief for the area told the daily newspaper.
However, the Mining Bureau currently do not see any sign of production, therefore TXM’s licence in the area will expire at the end of 2012 if production does not start in the next three years. Joseph Molnar pointed out, if that is case, similar processes could come into to play, as it did in the late 90's, when an international company has invested money in the Makó gas extraction.
The mining chief also stressed that it is not about concessions in the area, rather about the mining rights, which is free of charge. According to the rules, when the area becomes open again then the applicants are required to submit a tender in the EU's official journal. There is no financial competition, and the winner will be chosen based professional know-how. However, to demonstrate its seriousness, the winner must deposit billions of forints in a separate account, which they only get back upon leaving the area.
József Molnár sees it’s plausible that by 2012 no one will be interested in the research in the Makó trough, although it is true that in the area of the south-western part of the Makó trough ExxonMobil and MOL will continue with preparations for production, but with different techniques.
In yesterday’s issue, the HVG reported that Falcon after its unsuccessful attempts at the Földeák-1 well, now they transferring their base to Magyarcsanád-1, where they are preparing for test-production.
