35 Year Production Licence
Falcon began operations in Hungary in 2005 and it is the most developed asset in its portfolio. Falcon’s subsidiary, TXM, holds the 35-year Makó Production Licence covering an area of approximately 245,775 acres (approximately 1,000 km2) located in the Makó Trough, part of the greater Pannonian Basin of central Europe. The Makó Licence is located approximately ten kilometres from the MOL Group owned and operated Algyö field, which has produced approximately 2.5 Tcf and 220 Mmbo to date. The Makó Licence area is transected by existing gas pipelines, including a 12 kilometre gas pipeline built by Falcon in 2007, which together offer access to local and international markets.
Deep Makó Trough
Between 2005 and 2007, Falcon acquired 1,100 km2 of 3D seismic data and executed a six-well drilling programme on the Deep Makó Trough. Each of the six wells encountered thick sequences of hydrocarbon bearing rocks, and tests flowed hydrocarbons from each tested horizon. Early exploration efforts focused on proving hydrocarbon potential and delineation of the basin in order to secure the Makó Production Licence. Falcon will seek to partner with an industry player to re-enter and develop the Deep Makó Trough play.
Falcon conducted small vertical stimulations on all but two wells (Makó-4 and Makó-7). Each of the zones tested flowed hydrocarbons to surface. These were exploration wells and no horizontal wells have been drilled at this stage.
|Magyarcsanád-1||2007||4,272||250 bopd + 1,000 mcfpd|