Falcon/TXM drilling for deep gas in Hungary

Canada’s Falcon Oil & Gas Ltd. began drilling operations on its seven-well program in Hungary in November 2005. Falcon’s corporate offices are based in Denver, but it operates the deep gas project in Hungary through its wholly owned subsidiary Hungarian TXM Energy LLC, based in Budapest.The company has two exploration licenses covering 2,329 sq km (575,263 acres) in south central Hungary, near the border with Romania (Fig. 1). Click here to enlarge imageIn January 2005, Falcon/TXM acquired the first license to explore and drill 955 sq km (235,885 acres) in the Tizsa area from Mako Energy Corp.1 The Tizsa license initially became effective June 11, 2001, was set to expire ...

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