``We are now in the process of drilling two wells with our partners at Bayou City Exploration,'' stated Falcon's CEO, Mr. Fred Zaziski. The company expects both wells to be completed by the second week of January.
Falcon Natural Gas Corp. has purchased 12.5% of the working interest in the Live Oak County Prospects, which include Jaboncillo Windmill Prospect, Leopard Branch Prospect and Frost National Bank Deep Prospect. Falcon also will pay 16.67% of all well costs to casing point on the initial well drilled on each prospect and 16.67% of all G&G costs, third party prospect fees, land brokerage costs, lease bonus and all other similar costs of the prospect.
The drilling area in south Texas was chosen because of its location within one of the largest natural gas producing areas of North America. The comprehensive pipeline infrastructure and enormous industrial resources make it an ideal drilling area.
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