>What then can unitisation do.Well not just get everyone pointing in the same direction but allow a partner like FO to cut further its costs
Not only that, but it could remove the 'risk' of ExxonMobil backing out of the deal.
Our JV agreement has 3 phases, and Exxon has the option on whether or not to proceed at each stage. That first decision point should happen by the end of this year.
As far as we know, the MOL/Exxon JV does not have these decision points.
This is from the new release (in regards to the MOL/Exxon JV)
"ExxonMobil plans to spud the first wells in 2008 and conduct well testing and reservoir evaluation studies over two to three years."
If unitization occurs, and Exxon backs out of the JV deal with Falcon, Falcon does not have as much to loose as they do if unitization doesn't occur. After all, with unitization, it is now one big pie with Exxon still being the operator. Falcon will just end up with a bigger piece of the pie, since if they back out of the JV deal, they have to give all the land back.