Falcon Announces Final Approval of Exploration Program with Naftna Industrija Srbije

By Midnight Trader,  January 14, 2013, 01:42:04 PM EDT

Falcon Oil & Gas Ltd. (FO.V) announced an agreement related to a significant exploration program with Naftna Industrija Srbije ( NIS ), a Serbian oil and gas company in which JSC Gazprom Neft has a 56% stake.

Under the terms of the transaction, NIS will drill three exploration wells targeting the Algyo Play within the company's Mako Trough production licence in the Pannonian Basin, Hungary.

Preparation for drilling operations is already underway and Falcon and NIS are planning to drill the first of three wells before the end of March 2013, subject to regulatory approvals.

FO shares rose half-a-cent to $0.215 on volume of more than 643,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: NIS



Latest News Video

Mom Gives Birth To 13-Pound Baby
Mom Gives Birth To 13-Pound Baby    
Shots Ring Out As Graduation Part Turns Deadly
Shots Ring Out As Graduation Part T...
Brain Surgery Patient Plays Guitar During Procedure
Brain Surgery Patient Plays Guitar ...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%