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FX Energy Provides Update On Current Operations In Poland

Stocks in this article: FXEN





SALT LAKE CITY, July 25, 2013 /PRNewswire/ -- – FX Energy, Inc. (NASDAQ: FXEN) provided the following update on the Company's current operations in Poland.

Drilling

Lisewo-2 well. Site preparation is underway and a drilling contractor has been selected for the Lisewo-2 well. Drilling is scheduled to begin near the end of August. 

Szymanowice-1 well.  The tender process to select contractors for drilling the Szymanowice-1 well in the Lisewo area is underway. Drilling is expected to start near the end of September.

The Lisewo-2 and Szymanowice-1 wells are located in the Fences concession where the Polish Oil and Gas Company, PGNiG, is the operator and owns 51% of the working interest; FX Energy owns 49%.

Gorka Duchowna-1 well.  Site preparation is underway at the Gorka Duchowna-1 well location in the northwest quadrant of Block 246. A contract has been signed with a drilling contractor and drilling is expected to begin near the end of August.

The Gorka Duchowna-1 well is located Block 246 where FX Energy owns 100% of the working interest.

Seismic

Tuchola seismic.  The Tuchola 3D seismic acquisition program covers 110 square kilometers in the Edge concession and is approximately 50% complete. The new data now in hand covers the Tuchola-3K location along with the area of potential structural development to the east. This data set has been moved to processing now, before the full acquisition program has been completed. This will afford the Company the opportunity to consider drillsite selections at the earliest possible date. If supported by this new seismic, the Company plans to drill and test one or two appraisal wells before the end of this year.

Block 246 seismic. The seismic acquisition program in the southeast quadrant of Block 246 has been completed.  Processing and interpretation of the data will now begin to determine the potential for drillable Rotliegend and Main Dolomite structures in this area.

Edge and Block 246 concessions are 100% owned and operated by FX Energy.

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