Caterham F1 owner Tony Fernandes reckons there is still a lot more to come from his team this season.

Although the outfit enjoyed a promising weekend in Valencia, Silverstone and Hockenheim more recently proved less fruitful, and while Fernandes concedes there is 'more work to do', he remains confident they can still break into the midfield. Indeed he added that the aim this coming weekend in Hungary, is to try and match what they achieved during the European Grand Prix last month.

"The Hungarian Grand Prix marks the mid-point of the F1 season and it is always good to pause for a moment and collect your thoughts before we all head off for a well deserved summer break. In terms of progress on track we have definitely gained in pace and development but there is obviously more work to do," he said.

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"We are yet to really unlock the whole potential of this car and that will only come with more hard work and more time, but we are absolutely determined to achieve what we have set out to this year.

"On the wider growth and development of the team I could not fault where we are now. We have started moving in to our new home in Leafield and that is a huge step for the F1 team and the whole Caterham Group. Our investment in that facility is a clear sign of how determined we are to join the F1 establishment but it does not stop there.

"In addition to Leafield we continue to attract well respected people from much bigger teams who are excited about the vision we have for our F1 team and all our automotive operations and we will be making more announcements on the commercial front in the very near future.

"Now the team heads to Hungary and the aim there is to get back to the levels of performance we saw in Valencia. We know we can do it, we have the people to put us where we want to be and another week of hard work should be rewarded by a strong performance at the Hungaroring."

Caterham F1 drivers Heikki Kovalainen and Vitaly Petrov meanwhile are both looking forward to the weekend and have fond memories of racing at the Hungaroring.

"I had my first [and only] F1 win in 2008 in Hungary so it's always good to come back," Kovalainen remarked. "It's fair to say I have some pretty good memories from here and I always have great support from the Finnish fans in Hungary. There's always a lot of Finns in the crowd as I think it's a bit easier for them to get to Hungary, and whenever there's Finnish fans around there's always a great atmosphere!"

"I have very good memories of Hungary too," Petrov added, "and am really looking forward to getting back to Budapest. In 2010 I outqualified my team-mate Robert Kubica there and I finished fifth in the race, plus it's the country where I won my first race in Formula 3000.

"Hungary will be the last race before our summer break in August and we all need a good break. Before we go on vacation it'll be important to stop, analyse and discuss how the season is going with the guys so we can make adjustments for the remaining races.

"But then it'll be time to switch off our own engines for two or three weeks, before coming back for training with recharged batteries for the next half of the F1 2012 season."