In June, 2011 Falcon announced a letter of intent with Naftna Industrija Srbije, the major Serbian integrated oil company, to drill three wells targeting the shallower Algyö Formation. Falcon is planning for a full test of an existing well bore in the deeper formations in 2012.

Falcon is planning for a full test of an existing well bore in the deeper formations in 2012.

Image of a seismic anomaly from the 3D seismic survey identifying and Algyö prospect

Depositional model of the Algyö formation