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FX Energy Reports Initial Production From Winna Gora Well; Updates Drilling Progress On Tuchola-3K And Mieczewo-1K Wells

Stocks in this article: FXEN

SALT LAKE CITY, Feb. 4, 2013 /PRNewswire/ --  FX Energy, Inc. (NASDAQ: FXEN) today reported that production has started from the Winna Gora production facility.  The well is currently producing at a rate of 1.5 mmcf/d.  The Winna Gora well is located in the 850,000 acre Fences concession, where the Polish Oil and Gas Company (PGNiG) is the operator and holds a 51% interest; the Company holds a 49% interest.

FX Energy also reported that the Tuchola-3K well has been drilled to the Zechstein formation immediately above the projected Ca2/Main Dolomite target reservoir.  Current depth of the well is 2,583 meters.  The well will be logged and casing will be set and cemented prior to coring into the Main Dolomite.  If the Main Dolomite has gas shows and apparent porosity, a drill stem test (DST) will be run in the top 10-15 meters.

The Tuchola-3K well is planned to test the Main Dolomite target and an independent Devonian oil target at a depth of 3,180-3,820 meters. The Tuchola-3K well is located on one of four blocks that comprise the 880,000 acre Edge concession area in northern Poland.  FX Energy holds a 100% interest and operates the Tuchola-3K well and the Edge concession area.

The Mieczewo-1K exploration well is currently drilling below 2,000 meters.  The well is a planned test of a Rotliegend structure at a projected depth of 3,360 meters.  The Mieczewo-1K well is also located in the western part of the 850,000 acre Fences concession, where PGNiG is the owner of the concession and operator and holds a 51% interest; the Company holds a 49% interest.

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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