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Falcon Oil & Gas Ltd. announces that The Foldeak-1 Well Has Reached Total Depth
(TSXV Symbol: FO) DENVER, CO, May 4 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon") is please...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\n(TSXV Symbol: FO)\n\n\nDENVER, CO, May 4 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon") is\npleased to announce that the Foldeak-1 well has reached total depth. This well\nis part of the "Initial Work Program" under Falcon's April 10, 2008 Production\nand Development Agreement, as amended, with ExxonMobil Corporation affiliate\nProduction Ventures East Hungary Kft and MOL Hungarian Oil and Gas Plc.\n\n\nThe primary focus of the Initial Work Program and the Foldeak-1 well is\nto test the Szolnok Formation. A complete thickness of the Szolnok Formation\nwas drilled. The well reached a total depth of 4421 meters and is currently\nbeing evaluated for testing.\n\n\nAbout Falcon Oil & Gas Ltd.\n\n\nFalcon Oil & Gas Ltd. is a British Columbia corporation in the business\nof oil and gas exploration and production. It has operations in Hungary\nthrough its wholly owned subsidiary TXM Oil and Gas Exploration, LLC, in\nRomania through its wholly owned subsidiary JVX Energy Corporation, in\nColorado through its wholly owned subsidiary Falcon Oil & Gas USA, Inc., and\nin Australia through its wholly owned subsidiary Falcon Oil & Gas Australia\nPty Ltd. Further information about Falcon is available at\nwww.falconoilandgas.com and www.sedar.com.\n\n\nIn the interests of providing Company shareholders and potential\ninvestors with information regarding the Company, including the Company's\nassessment of its and its subsidiaries' future plans and operations, certain\nstatements included in this press release may constitute forward-looking\ninformation or forward looking statements (collectively, "forward-looking\nstatements"). All statements contained herein that are not clearly historical\nin nature are forward-looking, and the words "anticipate", "believe",\n"expect", "estimate" and similar expressions are generally intended to\nidentify forward-looking statements. Similarly, forward-looking statements in\nthis press release include, but are not limited to anticipated developments of\nthe Company's drilling project in Hungary and the timing thereof, the\nCompany's drilling project in Romania and the timing thereof, capital\ninvestment levels and the allocation thereof, pipeline capacity, government\nroyalty rates, reserve and resources estima...