Paul Clarke

This is in our our deep tight gas plate. And so at that point we we took a view on the back of of the resource numbers on the back of the seismic to take the company public. some liquids too about about 2/3 of the revenue from gas 1/3 from liquids

the footprint that we have around 4 a half thousand acres could support anywhere from 50 50 to 100 drilling locations

uh measene age 11 to 15 million year old relatively young rock section uh down at around 2 to 3,000 m

a a resource a contingent resource evaluation in the region of 750 uh billion cubic feet of gas net risk recoverable

the the wells themselves are relatively expensive in the region of 155 15 million US

The break even projects that we have are around $4. the project we're working with in Hungary does need prices as as I said in that you know 7 8 9 $10 range to be you know to be commercially viable

we've actually started a a joint venture process really to farm out uh to farm out a small interest within the field to help those first those first two wells get drilled and and get funded

and you know our goal here would be to do that you know over the next 18 months

We we listed the company in October of 2024. initially we gave ourselves 6 months. It looks like it might be nearer nearer to 12 months

We are predominantly working in the natural gas space uh to meet the the energy needs of of central Europe. We're a growth focused company. Uh we have a a 5-year growth plan in Hungary specifically

I mean you we're talking about the Kiskunhalas concession area

my my COO P Bach former shell uh Maul is the large integrated EMP company in country. He worked for Maul. he was very wellversed in in operating and executing in that part of the world

by uh by background I'm a uh petroleum geologist. Uh I've been in the industry close to 25 years. I was their their subsurface uh director working Eagle Ford and and and Perian Basin. We've drilled several several thousand vertical and horizontal wells

there were three legacy wells drilled in the region. Uh and those wells demonstrated an an operating petroleum system. Uh in fact two of the wells tested gas to surface

So while you know while the company while the company was private the first couple of years in Hungary, we acquired a 3D seismic survey to better delineate the field. the the wells themselves are relatively expensive in the region of 155 15 million US and and so without doubt that's been the single largest impediment to date that the you know the project project hasn't uh hasn't yet been drilled