BUDAPEST--Romania Wednesday approved the concession agreement for a potential oil and gas block in Romania's Curtici, or EX-6 Block, where MOL can now commence conventional exploration operations, Hungarian oil and gas firm MOL Nyrt (MOL.BU) said in a stock exchange filing Friday.
- MOL said it's "very optimistic" about continuing its exploration success ratio reached in the Pannonian basin region of Central and Eastern Europe.
- The exploration phase consists of two sub-periods, three years each, the second one optional. Operations are expected to start immediately, MOL said.
- MOL and its partner Expert Petroleum won exploration rights for three blocks in 2010.
- MOL closed trading flat at 17,050 forints ($78.7) Friday.
-Write to the Budapest Bureau at firstname.lastname@example.org
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(END) Dow Jones Newswires
December 14, 2012 11:56 ET (16:56 GMT)
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