In accordance with the PDA, ExxonMobil’s and MOL’s respective participating interests in the contract lands, the Foldeak-1 well, and all other interests will automatically revert to Falcon, which now becomes operator of the contract area.
Concurrently, the company is seeking alternative partners and is in discussions with multiple parties to continue evaluation of its 247,000 acres under the long-term production license.
Headquartered in Denver, Colorado, Falcon specializes in the business of conventional and unconventional oil and gas exploration and production, and holds interests in prospective properties in Hungary, Australia and South Africa.
