Falcon has been active in the Makó Trough since 2004 when it acquired the Makó and Tisza exploration licences. In 2007, Falcon’s subsidiary, TXM, was awarded the 35-year Makó Production Licence over a tight and shale gas exploration project covering approximately 245,775 acres. TXM is the operator and there are no outstanding work commitments on the License. In total, 1,100 km2 of 3D seismic data were acquired and 9 exploration wells were drilled by Falcon and its partners in the Makó Trough.
The Makó Trough is a large sedimentary basin located in south-eastern Hungary in the mature Pannonian basin. Hungary is an established oil and gas producing country and Falcons’ licence is located some 5 km to the east of the largest field in Hungary, the Algyő field (2.5 TCF and 220 MMbbl produced). The licence is transacted by existing gas pipeline infrastructure offering transport and access to local and other European markets.
The Makó Trough represents a high risk/high reward petroleum system with significant in-place resource potential of ~36 BCF gas and ~76 MMbbl oil.
Makó Trough contains two plays:
- Makó Shallow Play targeting conventional sands at depths between 2,300 m to 3,500 m;
- Makó Deep Play targeting significant unconventional contingent resources below 4000 m.
The Makó Shallow Play is a relatively shallow play whereby multiple gas prospects were identified through extensive AVO (amplitude versus offset) seismic analysis and 3D seismic data showed the presence of possible gas zones above in the Algyő Formation.
The Makó Deep Play is a deeper, unconventional play targeting shale gas and oil (Endrőd Fm.) and tight gas (Szolnok Fm.) accumulations in low permeability and low porosity rocks in the central parts of the trough.
Currently, Falcon maintains its 100% interest in the Makó Trough Production License and is continuing to review its operations in Hungary.