SALT LAKE CITY, April 2, 2012 /PRNewswire/ -- FX Energy, Inc. (NASDAQ: FXEN) today announced that drilling has commenced on the Komorze-3K well in the Fences concession in central Poland. The Komorze-3K well targets one of five satellite structures located near the Lisewo-1 discovery that was completed in 2011. The five satellite structures have an estimated 60 Bcf in gross potential. PGNiG is the operator of the well and the Fences concession and owns a 51% interest; the Company owns 49%.
"We are currently in the design phase of the facilities to bring the Lisewo-1 well, and if successful, the satellite wells into production in 2013," said Andy Pierce, VP of Operations for FX Energy. "In addition, we are processing and interpreting the 3-D seismic data on the structural extension southeast of the Lisewo-1 discovery. We plan to drill two more wells in this area yet this year."
The Company also reported that the Kutno-2 well in Poland is currently drilling below 4,300 meters (14,100 feet) with a projected total depth of 6,450 meters (21,160 feet).
About FX EnergyFX Energy is an independent oil and gas exploration and production company with production in the US and Poland. The Company's main exploration and production activity is focused on Poland's Permian Basin where the gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore England. The Company trades on the NASDAQ Global Select Market under the symbol FXEN. Website www.fxenergy.com. FORWARD-LOOKING STATEMENTS This report contains forward-looking statements. Forward-looking statements are not guarantees. For example, exploration, drilling, development, construction or other projects or operations may be subject to the successful completion of technical work; environmental, governmental or partner approvals; equipment availability, or other things that are or may be beyond the control of the Company. Operations that are anticipated, planned or scheduled may be changed, delayed, take longer than expected, fail to accomplish intended results, or not take place at all. Actual production over time may be more or less than estimates of reserves, including proved and P50 or other reserve measures.
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