Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/falcon-to-receive-37-million-termination-fee-from-.shtmlFalcon to receive $3.7 million termination fee from Naftna Industrija Srbije jsc
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.
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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.
