O&G Development Central Kft. (OGD), domestic subsidiary of Sand Hill Petroleum BV, is seeking to farm down its exposure in the acreage held in central Hungary. The blocks on offer include the Nagykata, Mogyorod and Ocsa permits. As part of the company's risk management strategy in an unprecedented period of volatility on the commodity markets, a negotiable share in the contracts is offered. All permits are solely operated by OGD, through its purpose-established vehicles.  The 551 sq km NagykÃ¡ta block is located in the JÃ¡szâNagykunâSzolnok and Pest political provinces, some 45 km east of the capital city of Budapest. The 521 sq km MogyorÃ³d block is located in the NÃ³grÃ¡d and Pest political provinces, a few kilometres northeast of Budapest. The 593 sq km Ãcsa block is located in the Pest political province, a few kilometres southeast of Budapest. All the tracts are falling within the Paleogene Sub-basin, tectonic unit of the Pannonian Basin.  The exploration concept is related to the Mesozoic (and Palaeozoic basement) play, as well as the clastic series of the Oligocene-Miocene succession. The petroleum play in the area has been proven by the discoveries nearby, in e.g. Gomba oil field.    Interested parties please contact Mr. David LeClair (dleclair@shpbv.eu).  Background Information  The Nagykata, Mogyorod and Ocsa was granted to OGD on 16 February 2016. The contracts, pre-awarded in late November 2015, followed the countryâs Third Hydrocarbon Licensing Round.  The petroleum plays within the Paleogene Sub-basin relate to the Mesozoic (Triassic and Jurassic) basement series developed in the carbonate facies, the Eocene clastic series and the Miocene, syn-rift successions.
O&G Development Central Kft. (OGD), domestic subsidiary of Sand Hill Petroleum BV, is seeking to farm down its exposure in the acreage held in central Hungary. The blocks on offer include the Nagykata, Mogyorod and Ocsa permits.