Hungary
Falcon has conducted and interpreted a 3D seismic survey over a 16 square
kilometre portion of the Tisza Licence area. In addition, it has purchased
and reprocessed an additional set of 3D seismic data covering the southern
portion of the Tisza License. Based on the new seismic data, Falcon has
finalized the first three drilling locations in Hungary. Falcon will drill a
deep well on the Mako License at the Mako 5 location and two intermediate
depth wells-the Szekkutas well on the Mako License, and the Pusztaszer well on
the Tisza License.
Marc A. Bruner commented, "The 3D seismic data has greatly increased our
understanding of the geology in this massive basin. By collecting and
interpreting the 3D data over the summer, we have come up with multiple
drilling locations, three of which will be drilled in our fall program. We
have a large inventory of premium casing and two drilling rigs under contract,
so we're ready to start drilling. Our operations group plans to start
building the first of the surface locations for these wells within a week,
with the goal of having both rigs moved in and working in October. These are
exciting times for Falcon."