Falcon Oil & Gas announced that ExxonMobil, which is the operator in the Company's joint production and development project located in the Mako Trough in Hungary, has commenced fracture stimulation and testing operations at the Foldeak -1 well in the lower part of Szolnok Formation. Each of the four planned fractures will be evaluated for flowback rates directly after the operation. Once these fracture stimulations have been completed, ExxonMobil expects to enter into a test period.
These operations are part of the Initial Work Program under the Production and Development Agreement with ExxonMobil and MOL. The Initial Work Program is primarily focused on testing the Szolnok Formation in the jointly-owned Contract Area consisting of approximately 184,300 acres of Falcon's 246,000-acre Production License.
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