Hódmezővásárhely – After the Mindszent well drilling was completed, MOL and ExxonMobile Hungary Kft. continues to map the gas resources outside of Vásárhely on the Bodzási road. The drilling expected to be finished at end of March.

As we’ve earlier reported: At the end of August, MOL Nyrt. and ExxonMobile began their gas exploration in the Mako trough with their first well just outside Mindszent on the Miási road. This year’s planned activity for this well was completed by the end of November, and will resume operations at this site in the spring. Results of the analyctic data expected to be in the midle of 2009.

Meanwhile, the Mindszent rig has been moved just outside Vásárhely to the Bodzási road, and recently operations has began for the more than 4000 meters deep well. Here too, the goal is to get an accurate picture on the size of the uncoventional hydrocarbons the Mako trough contains. The American ExxonMobile is the leading expert on the unconventional resource field.

Bacsur György said - a communication officer of Mol Nyrt - the Hódmezővásárhely-1 well expected to be finished by the end of March, and then the evaluation program, similar to the Mindszent-3 well, begins. Also, as expected there will be more drilling programs in the near future.

It all started exactly 3 years ago today.

Explorations in the Mako trough has started 3 years ago, on the December 29 2005, by the Canadian company Falcon Oil & Gas Ltd and its subsidiary TXM Olaj és Gázkutató Kft. In May of last year Falcon has received a Production Licence for 100,000 hectar concession from the Hungarian governement. In the depths of this difficult geology, the more than 1500 billion cubic meters of hydrocarbon is the richest field in Central Europe.

In April of this year, ExxonMobile purchased a JV interest in the Mako trough for $300 million dollars. 2012-2014 the expected time line for production in the Mako trough.

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