Falcon Oil & Gas announced that the Foldeak-1 well has reached total depth. This well is part of the "Initial Work Program" under Falcon's April 10, 2008 Production and Development Agreement, as amended, with ExxonMobil Corporation affiliate Production Ventures East Hungary Kft and MOL Hungarian Oil and Gas Plc.
The primary focus of the Initial Work Program and the Foldeak-1 well is to test the Szolnok Formation. A complete thickness of the Szolnok Formation was drilled. The well reached a total depth of 4421 meters and is currently being evaluated for testing.
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