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MOL Moleculin Biotech Inc

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Share Name Share Symbol Market Type
Moleculin Biotech Inc TG:MOL Tradegate Ordinary Share
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MOL: E&P Sharing Pact Comes Into Effect at Block 66 in Oman

03/12/2012 5:19pm

Dow Jones News


Moleculin Biotech (TG:MOL)
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BUDAPEST--Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Monday that an exploration and production sharing agreement for its onshore Block 66 in Western Oman has come into effect.

MAIN FACTS:

- the agreement was signed Sept. 9 and became effective Nov. 25 by the issuance of a Royal Decree.

- following the ratification, MOL can start the implementation of the exploration work program at the block.

- Block 66 is located in the western part of Oman, along the Saudi Arabian border. It's a desert area of 4,899 square meters.

- According to preliminary estimates, the total unrisked prospective recoverable resource potential of Block 66 could reach 200 million barrels of oil equivalent, or MMboe.

Write to the Budapest bureau at budapest@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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