Project Profile
Value: US$50 Million
Location: Szeged Urban County, Mako License, Hungary
Reserves: 25.8 Tcf and 42.6 mmbo
Area: 245,775 net acres
Startup Year: 2015
Falcon has discovered a large Basin Centered Gas Accumulation (BCGA) and a potential fractured oil and gas play in the Makó Trough area in south central Hungary. In 2007 the company was awarded a production license covering 245,775 net acres. An independent report effective March 31, 2008 estimates potentially recoverable contingent resources at the following for Falcon’s interests in the Szolnok formation, the Lower Endrod, the Basal Conglomerate and the Synrift Sequence, measuring in trillions of cubic feet (“Tcf”) and millions of barrel oil (“mmbo”): Probabilistic estimation of potentially recoverable contingent resources: P90 (90%) - 25.8 Tcf 42.6 mmbo, P50 (50%) - 43.9 Tcf
97.8 mmbo, P10 (10%) - 68.0 Tcf 202.7 mmbo.
Operator:
Falcon Oil & Gas: Operator with 100% interest