Falcon Oil and Gas Ltd.

Google isn't perfect, but this is interesting:

http://nol.hu/gazdasag/20091113-megis_johetnek_a_samanok_makora_

The judges also made

If the TXM court may challenge the expiry of the 2012 mining law is expected in order for a final decision, still could remain in the area - views of experts. This is an additional 1-2 years to drag the process. Also cause legal disputes to the TXM them under 35 years is entitled to a concession area, which extended feleennyivel. Ilyenről but bányakapitányságon experience that they can not.

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Mako yet come to the shaman?

Nov 13, 2009

The Mako gas field there is no sign of production, and if this remains the area in 2012 once again free for anyone to be explored - this newspaper, "said Joseph Miller, the territorial jurisdiction bányakapitány. But not surprised, if you can find, it was no longer a serious candidate. Despite the high expectations of the huge gas reserves in the ditch, Mako can not be revealing.

If the Canadian Falcon fails to start within two years of the normal gázkiermelést Makó ditch, the area outside it is released again to anyone - we could be Joseph Miller, the head of the competent Bányakapitányság Szolnok. Falcon Hungarian subsidiary, TXM in 2005, reached via the shopping area of research right which expired at the end of 2006. Then the TXM are optimistic about the final report of research submitted to the bányakapitányság the mining permit was issued. This is the beginning of 2007 for five years, that is valid until the beginning of 2012. Jozsef Molnar said: even though the license in 2007, began production without actually issued, the technical development and belefektetett amounts seen in the light of a chance that the earth is now undergoing a significant amount of gas may be obtained. The license light - that is not research, but is harvested - the present situation clearly called strange, and I think the best preparation for a meaningful production. The authority now but do not see any sign harvested. If this condition - including the relevant laws - does not substantially change, the TXM permission to land over-end in 2012 - he said. (Meanwhile, there have been continuous in the field of official duties by the company's technical and operating plan submitted annually to be licensed and carry out site inspections.)

Then a similar procedure to start than at the end of the 90s, when it has long been known to Mako gázvagyon first extracting the actual money invested in the pre-TXM also international kutatócég. Joseph Molnar stressed: no concessions in the area, but mining is the right word. Between the two is no small difference that the latter is free. If the opening-area becomes, the rules of the EU official journal of the tender on him. Only the technical proposals submitted in this matter content, there is no financial competition. (However, we could say, this has still not arrived in the area in 2007, symbolically seizing "shamans" of birth: the candidate to demonstrate the seriousness of the financial deposit is several billion forints to be placed in a separate bank account, that the licensee will be returned only upon leaving the area. ) bányakapitány the absolute knowledge of the work was conceivable that in 2012 no one should have to inquire about Mako pit for research.

The south-western area, a much smaller part of the MOL and ExxonMobil continue to engaged in similar "production arrangements," but not by this technique. For the start of this data according to the law expires in 2014.


The Falcon now have developed after közhiedelmekkel contrast to Mako under hundreds of cubic meters of gas is already in the 70's known for years. The discovery even Gyorgy Szabo, the Falcon, owned by the current managing director is due to TXM, who then headed the local OKGT on behalf of the drillings. In it was clear that this is the means, then the gas can not be on the surface. According to experts, not even the sets - 4-6 miles - the depth, the geological structure, but there are problems. The non-traditional bedrock of the gas is either in the form of microscopic inclusions located. In order to be recoverable, in which burst or other interventions to be implemented, which led to the gas escapes. North America has been a successful drillings midst of such geological conditions, but these attempts are still very risky. Developments in technology may offer a chance that the Falcon, and the associated ExxonMobil and MOL is already investing tens of billions of forints ripe perceived - yet it seems that wrong. Presumably, the development of technology in the future will be obtained gázvagyon, but exactly when the unpredictable.

"A few months after the extraction of huge földgázkészlet" promised 2007th In early January, György Szabó, performing research in the Mako, a Canadian-owned Falcon TXM driver. Although the statements in this connection, the conditional mode, put it, investors, journalists and analysts have imagination soared. The Falcon's share price soared, the future of the Mako has recently also been described in local Dallasként. Received the most emphasis, that under Mako billion cubic meters of gas is 600-1500. Experts say such numbers are by their very nature can have a technically misleading, because smaller and more data are elhangozhatnak different probability level, and promise a different amount recoverable, economically recoverable and recoverable quantities, within a given time. In any event, soon to loose wing computation is that the Mako Hungary gázadag under cover consumption of 40-100 years. At that time there were about a sound or sounds, but it is still on paper to take up the existing gas from the earth. However, experts aggodalmaskodtak that the huge extraction with surface materials do not pollute the environment with too much, or too low for the kitermelendő gas after the state paid 12 percent bányajáradék. The calculators at your fingertips many people came out to several thousand billion in revenues this mean - it is true, the debate has evolved, it will be 3 billion, or five thousand. Others that also kevesellték, saying, again in favor of the multinational, the Hungarian government. In February 2007, then the National Committee and the Revolutionary Eger Heves County Hun Fokos Alliance of the Holy Crown, on behalf of symbolically recaptured the area, accompanied by sámándobok.

Meanwhile, the Falcon and TXM very serious work. While the news may also vary on the amounts invested in the security to say that the company's research appears in the hundreds of millions of dollars, is killed tens of billions of forints. However, a serious részvényármozgások Mako, respectively, related to notifications. The Falcon's call at the end of the MOL and ExxonMobil has also joined the American work. Last year at the beginning of a complicated contract has now proved to be relevant enough to ExxonMobil's $ 25 million simply by drilling the right to pay off the Falcon, and then killed a further 50 million dollars in drilling. This year, however, are reproduced in the negative reports. It follows, under the contract to ExxonMobil and MOL of the money described in a few months back free of charge part of the Falcon. The days of the sounding drills Falcon said the "temporary" suspension.

Gyorgy Szabo had promised in January 2007, this newspaper, in a few months clearly indicate the amount of gas extracted, and the Hungarian stock market can look forward projection. A year later, when these causes for lack of interest, it argued, is not idle, but it no longer intends to designate the new deadlines. The Executive is also the statements of a few months of 2012, promised to start production. Cards present the request stated in a research bányajogi only a temporary cessation of the concept. As soon as legally possible are established, the Falcon in the area of the drillings - he added.

The judges also made

If the TXM court may challenge the expiry of the 2012 mining law is expected in order for a final decision, still could remain in the area - views of experts. This is an additional 1-2 years to drag the process. Also cause legal disputes to the TXM them under 35 years is entitled to a concession area, which extended feleennyivel. Ilyenről but bányakapitányságon experience that they can not.

The Mako Basin prospects for the less natural gas than it had hoped at the beginning of Mol - hvg.hu has said Zsolt Hernádi, the company president. - The gas is there, the problem is: we do not know how to bring up, and that this is worth. When a decision yet, that does not make up for the time being, this does not mean that they never bring up, but that the current technical knowledge, according to the current market environment is not free. Mako was a gas, and sooner or later we will be - said Hernádi.