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TheStreet Open House

FX Energy Reports Third Quarter Production Results Up

Stocks in this article: FXEN





SALT LAKE CITY, Oct. 25, 2012 /PRNewswire/ --  FX Energy, Inc. (NASDAQ: FXEN) today reported third quarter 2012 production of 1.2 billion cubic feet of gas equivalent (Bcfe), compared to 1.1 billion cubic feet equivalent (Bcfe) during the third quarter of 2011. Total production for the first nine months of 2012 was 3.5 billion cubic feet of gas equivalent (Bcfe), compared to 3.3 billion cubic feet equivalent (Bcfe) during the first nine months of 2011.

Daily production for the third quarter of 2012 was approximately 13.2 Mmcfe/d, compared to 12.0 Mmcfe/d during the same quarter of 2011, an increase of 10%. Third quarter 2012 production would have averaged nearly 14.0 Mmcfe/d but for the unexpected shut down of the Company's Zaniemysl well for nearly a month for unscheduled maintenance.

Production for the first nine months of 2012 was approximately 12.8 Mmcfe/d, compared to approximately 12.0 Mmcfe/d during the first nine months of 2011, an increase of 7%. Production at October 20, 2012, was approximately 13.7 Mmcfe/d.

"We are pleased to have achieved a production increase for both the quarter and the nine month period," said Clay Newton, Vice President of Finance.  "With our Winna Gora well starting production later this quarter we could see our average daily production for the full fourth quarter at approximately 14 Mmcfe/d. This growing production is a critical source of support for our expanded exploration and development program in Poland."

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.

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