Exxon does not drill anymore at Földeák.

Our staff

2010.02.22. 11:09

http://www.delmagyar.hu/mako_hirek/az_exxon_nem_fur_tovabb_foldeaknal/2142908/

Földeák - The U.S. Exxon Mobil suspended gas exploration operations in the Makó gas field – said the company's spokesman, Patrick McGinn, qualifying the test results as ‘disappointing’.

As we have reported several times, in April 2008 Falcon Oil & Gas Canada signed a joint venture agreement with the American Exxon and the Hungarian Mol to explore the Makó gas field. In the autumn of last year, in accordance with the contract, Exxon began its fraccing operation in 4358 and 4200 meters depths at the Földeák-1 well – however, large quantity of water broke to the surface, so than in October Exxon communicated that they don’t want to continue the research at the Földeák-1 well.

However, the Exxon and MOL drillings carried out at Mindszent and Hódmezővásárhely have been successful: as it came to light that they found natural gas hidden thousands of meters beneath Hódmezővásárhely and Mindszent.

Exxon and MOL now withdraw from the production and development agreement with Falcon Oil and Gas in Hungary. Falcon communicated in the news release that negotiations are under way with other companies to find new strategic partners to continue the research.