Falcon Registers Achievements in Hungary

Ireland-based Falcon Oil & Gas announced that initial drilling operations on the Besa-D-1 well in Hungary have reached total depth (“TD”) of 3,000 metres. The company also reported it encountered gas shows.

‘Besa-D-1 is the second of a planned three well programme to evaluate the gas potential of the Algyő Formation in the Makó Trough License. The well has now been cased to TD and is suspended pending further technical evaluation in order to determine an appropriate testing programme later this year. No operational problems occurred during drilling,’ reads a note released on Tuesday.

In January 2013, Falcon teamed up with Naftna industrija Srbije to target the Algyő Play. The cooperation continued in the last months.

“In working together, Falcon and NIS have agreed to extend the completion date for the three well programme from July 2014 to 31 December 2014 in order to identify the appropriate location and geological target for the drilling of the third obligation well within our prospective acreage in the Makó Trough,” Philip O’Quigley, CEO of Falcon commented.