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FX Energy Updates Status Of Polish Operations

Stocks in this article: FXEN









SALT LAKE CITY, Aug. 20, 2012 /PRNewswire/ -- FX Energy, Inc. (NASDAQ: FXEN) today reported that a liner has been set through the Zechstein section of the Kutno-2 well and cemented to a depth of 6,209.5 meters.  Currently the well is waiting on cement to set up prior to drilling out the cement inside the 7" liner and running a cement bond log.  When those operations are completed, the drilling mud system will be changed to a lighter mud prior to beginning coring.  Coring is expected to begin later this week or early the following week.  PGNiG will earn a 50% interest in the Kutno concession in connection with its participation in the Kutno-2 well.

Komorze-3 well

A production test at the Komorze-3 well, which finished drilling earlier this month, is proceeding as planned and results are expected in approximately two weeks.  The Komorze-3 well is located in the Fences concession and is 51% owned and operated by PGNiG.  FX Energy owns a 49% interest.

Frankowo-1 well

The Frankowo-1 well is drilling ahead at a depth of 314.0 meters.  Frankowo-1 is located on concession block 246, which is 100% owned and operated by FX Energy.

About FX Energy

FX 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.

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