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“ Knowing as much as I do about Europe and the opportunities that have always been there , it ’ s been frustrating for me not to be able to go after them . Many resources just haven ’ t been exploited because the Russians always kept gas prices down to a level where it didn ’ t make much sense to compete . At this time , however , I knew that the contribution I could make to the energy security of Europe was important . So , I came out of retirement , formed MCF Energy along with several other high-powered energy leaders , and started exploring those areas where I knew there were opportunities ,” he elaborates .
MCF Energy was founded to strengthen Europe ’ s energy security and provide critical resources for the energy transition . The company ’ s vision is to leverage its expertise and capital to build a dominant new clean oil and gas company in Europe and deliver value for all stakeholders .
European exploration
The company is hunting massive natural gas exploration targets for European markets and has already established a dominant position in Germany ’ s natural gas exploration sector , as well as a significant Austrian project .
“ One of the most important projects right now is in Austria . We partnered with a company called ADX and drilled Welchau 1 in the Austrian Alps . This is a large geological structure and is 20 kilometers long , covering 100 square kilometers . We ’ re going to start testing in the next few weeks [ at time of writing and as per a recent press release ], but we ’ re very excited about this project as there hasn ’ t been anything this big found in a long time .
“ Another important project is in Reudnitz in Germany . It was discovered in the 1960s but because of gas prices , it had never been developed , but there ’ s 118 billion cubic feet of natural gas there . A GCA report shows also over a billion cubic feet of helium present , which is an important industrial gas , and we ’ ve just completed testing of one of the wells and I ’ m very pleased with the results .”
MCF also successfully completed the acquisition of a substantial natural gas exploration concession in Lech East , spanning approximately 100 square kilometers in Southwest Bavaria , Germany , granted by the Bavarian State Ministry of Economic Affairs , Regional Development , and Energy for an initial term of three years . Lech East is adjacent to another 6.2-kilometer-
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