>These types of disputes cause frustration and panic. They can also provide a great opportunity. In the coming months we should be able to ease some of their pain, that is if Exxon can get it out of the ground.

I'm sure they can get it out of the ground. The question is, is it economical to get out of the ground. The current crisis has given Europe a huge wakeup call, especially Hungary. This provides us with a nice cushion in case the costs are borderline economical. It will give the Hungarian government a good incentive to lower royalties, if that is required.

The Minister of Economy and Transport (hereinafter: Minister) may, in agreement with the Minister of Finance, reduce the rate of the mining royalty, if the mining entrepreneur

a) certifies by economic calculations that he is applying a more expensive process of production or exploitation in order to diminish production losses of mineral raw materials and to increase the quantity of industrial resources, or

b) agrees to maintain exploitation, which is not economical for him, in the interest of employment policy, energy supply or other public interest