Business
Falcon Oil & Gas Provides Update on Foldeak-1 Well Operations In Hungary
Falcon Oil & Gas Provides Update on Foldeak-1 Well Operations In Hungary
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\nNov. 2, 2009 (Canada NewsWire Group) -- DENVER, Nov. 2 /CNW/ -- The well was flowed for a 130 hour period. Initial gas flow rates of 20,000 standard cubic feet (560 cubic meters) per day depleted to 7,000 standard cubic feet (200 cubic meters) per day at the end of the flow period. Initial water flow rates averaged over 3,400 barrels (540 cubic meters) per day going to approximately 300 barrels (50 cubic meters) per day at the end of the flow period. H2S rates averaged 50ppm and CO2 averaged 10%.DENVER, Nov. 2 /CNW/ -- In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company's assessment of its and its subsidiaries' future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, \"forward-looking statements\"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words \"anticipate\", \"believe\", \"expect\", \"estimate\" and similar expressions are generally intended to identify forward-looking statements. Similarly, forward-looking statements in this press release include, but are not limited to anticipated developments of the Company's various drilling projects and the timing thereof, capital investment levels and the allocation thereof, pipeline capacity, government royalty rates, reserve and resources estimates, the level of expenditures for compliance with environmental regulations, site restoration costs including abandonment and reclamation costs, exploration plans, acquisition and disposition plans including farmout plans, net cash flows, geographic expansion and plans for seismic surveys, or successfully engaging a partner in any of the Company's endeavours. In addition, please note that statements relating to \"reserves\" or \"resources\" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future. Such statements represent the Company's internal projections, estimates or beliefs concerning, among other things, an outlook on the estimated amounts and timing of capital expenditures, anticipated future debt levels and incentive fees o...