2010  Assets 2 Hungary Igal

2010 Assets 2 Hungary Igal

GTO acquired its 20% interest in October 2010, and it is operated by Ascent Resources plc (60%) through a local company – Pelsolaj. Other parties are: Swede A/S – 10% and Geomega (10%).

Two play types have been identified:

1. 3-way dip closure within Miocene carbonate reservoirs plus sealing faults to the NW that trend NE-SW. Upper Miocene (Pannonian) mudstone seal.

2. Sub Miocene unconformity stratigraphic traps in the Palaeogene, proven to the NW of Igal II to be a petroleum system with Palaeogene source, reservoir and seal.Proof of the Palaeogene petroleum system would open up this license for further exploration.