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Falcon to receive $3.7 million termination fee from Naftna Industrija Srbije jsc


Published Dec 7, 2015
Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd. has signed a termination agreement with Naftna Industrija Srbije jsc terminating the Oilfield Services Contract entered into between the parties in January 2013.

NIS has agreed to pay US$3.7 million to Falcon in fulfilment of its contractual obligations.

Falcon retains a 100% interest in the Mako Trough Licence in Hungary including the deep play.

Oilfield Services Contract

In January 2013, Falcon and NIS agreed to complete a three-well drilling programme targeting the relatively shallow Algyo Play, by July 2014.

Tags: Falcon Oil & Gas




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