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Start of drilling of the Álmosd Ny-4 exploration well

On March 25, Exalo has started drilling Álmosd Ny-4 exploration well for the company O&G Development Central Kft., a subsidiary of Sand Hill Petroleum based in Hungary. The well is located in Kokad, about 35 km east of Debrecen. Drilling is being carried out with the IRI 1200 rig, and the planned depth of the well is 2487 m MD/2440 m TVD.

The drilling works were preceded by the establishment of another foreign branch of the Exalo Drilling. Exalo's Hungarian branch is located in Budapest.