Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Anything new ?

Getting back to this:

"27 individuals were located in Hungary, supporting administrative operations in Budapest and field operations in Szeged"

I was just reviewing the Operating Agreement, and it would appear that if these employees are doing work in relation to the JV area, which they most likely are, then just about everything can be billed to the joint account, including office rent, as long as it was first approved by Exxon.

The cost of services performed with the approval of Operator by the technical and professional staffs of the Non-Operators and the Affiliates of the respective Non-Operators, including the cost to such Affiliates and Non-Operators of their respective Secondees, shall be chargeable to the Joint Account. The individual rates shall include salaries and wages of such technical and professional personnel and Secondees, lost time, governmental assessments, and employee benefits. Costs (other than for Secondees) shall also include all support costs necessary for such technical and professional personnel to perform such services, such as, but not limited, to rent, utilities, support staff, drafting, telephone and other communication expenses, computer support, supplies, depreciation, and other reasonable expenses.




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