SALT LAKE CITY, July 9, 2013 /PRNewswire/ -- FX Energy, Inc. (NASDAQ: FXEN) today reported that testing of three fracked Rotliegend intervals in the Plawce-2 well has been completed. The two lower zones in the well produced only formation water. The top interval, where log interpretation indicated more than 60 meters of gas saturated sandstone at the top of the Rotliegend, flowed only non-commercial levels of gas along with formation water. "We are analyzing the test results and other data to see if any further activities might be warranted in the tight gas areas of the Fences concession," said Andy Pierce VP of Operations, "but these test results are disappointing to FX Energy and to our partner, PGNiG SA, the national oil company in Poland."
The Polish Oil and Gas Company, PGNiG SA, is the operator and owns 51% of the working interest in the Fences concession, which covers 850,000 acres or 1,647 square kilometers; FX Energy owns 49% of the working 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.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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