Falcon Oil & Gas and Exxon Mobil in development deal

NEW YORK, April 10 (Reuters) - Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) has entered into an agreement with Falcon Oil & Gas (FO.V: Quote, Profile, Research, Stock Buzz) to start development work in part of an area in the Mako Trough, Hungary, in which Falcon holds a long-term production licence, the companies said on Thursday.

The agreement, which is effective Thursday, is between Falcon's wholly owned subsidiary, TXM Exploration and Production LLC, and Exxon Mobil's affiliate, Esso Exploration International Ltd. (Reporting by Ilaina Jonas; Editing by Alan Raybould)