Thanks for the translations John.

"This well yields gas sufficient enough to run an electricity-generating engine."

Yikes. Enough gas to run a generator. Not exactly what we were waiting to hear. Even though the Mining Act doesn't specifically define how much production is required in order to maintain a Production License, I highly doubt that a trickle of gas coming from one well would count towards anything. I don't think using a flare from the Magy as a defense against the Mining Bureaus statements was the best way to handle the situation. I think Dr. Szabo should have simply said that the Mining Bureau is correct, but in his opinion they still have a lot of work to do, and that he thinks it will not be an issue by the time the end of 2012 comes around.

Mentioning that they still have $30 million to continue drilling also makes it sound like Exxon has already given their notice.

In other words, I think his press conference has probably done more harm than good.