2010-04-09-2010-02-19

Acquired additional interests in Hungarian JV.

Falcon Oil & Gas Ltd., Denver, (Toronto Venture: FO) has acquired interests in a Hungarian joint venture from partners ExxonMobil Corp., Irving, Texas (NYSE: XOM) and MOL Hungarian Oil and Gas Plc, Budapest, (Budapest: MOL).

ExxonMobil and MOL exited the Mako Trough production and development project, which resulted in their interests reverting to Falcon.

Falcon is now operator of the area, which includes the Foldeak-1 well. The company says it is seeking alternative strategic partners for the long-term production license, which includes 247,000 acres.