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Falcon Oil and Gas starts drilling in Hungary

Energy Trade

Denver-based Falcon Oil and Gas has started a drilling campaign in the Makó Trough of Hungary, Proactiveinvestors said on Thursday. Falcon Oil and Gas's local unit, TXM Olaj- és Gázkutató, signed a declaration of intent with Naftna Industrija Srbije (NIS) of Serbia on gas production in the Makó license area in June 2011. Proactiveinvestors said NIS will drill the first well at a depth of around 3,000m. The rig is expected to be moved around the end of the month and spudding will begin in mid-June, it added.

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