Falcon Oil & Gas announced that all three parties of the Production and Development Agreement in the Hungarian Mako Trough -- ExxonMobil affiliate Production Ventures East Hungary Kft ("ExxonMobil"), Hungarian oil and gas firm MOL and Falcon -- have agreed to fracture stimulate another section in the Foldeak-1 well within the Szolnok Formation.
This operation will use the remaining balance of the Initial Work Program budget. The parties will address next steps after evaluating the results of the Stage 3 fracture stimulation operations.
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