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Message: They found gas under Mindszent and Hódmezővásárhely

Thanks John. That was a great story to start off the week! Especially this part:

"We didn’t even have to carry out fracing in these two wells to achieve this result – told our paper György Volner."

Of course this most certainly means they had good gas shows in both of the wells, not that the gas flows in commercial amounts without fracing. But it's still great news.

"However, they are now in the possession of the necessary technology needed for the economical extraction of the hydrocarbons. The start of production is not dependent on this"

I get the impression that they know they can make the gas flow, but the question still remains after all these years, "will it be economical?" Not only do they still have to find sweet spots, but they will also have to reduce the cost of the wells from about $40 million down to about $12 million.

Still lots of work to do that's for sure.


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