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Falcon holds 100 percent interest in 245,775 acres in a production licence in the Makó Trough, southern Pannonian Basin in Hungary. The licence is held and operated by Falcon’s 100% subsidiary TXM OIL AND GAS EXPLORATION LTD.

Falcon’s licence is surrounded by the largest and longest producing fields in Hungary, with the Algyö field (2.5TCF and 220MMBO produced) just 5km to the west of the licence boundary. The area has existing infrastructure offering transport and access to local markets and larger distribution centers for European markets.

In the deeper Szolnok Formation, the Endrod, the Basal Conglomerate and the Synrift Sequence, an independent report effective March 31, 2008 estimates potentially recoverable contingent resources at 44TCF and 98 MMBO.

Full copy of the RPS Scotia Resource Estimate, Mako Trough, Hungary