SALT LAKE CITY, Aug. 27, 2013 /PRNewswire/ -- FX Energy, Inc. (NASDAQ: FXEN) today reported that drilling has commenced on the Gorka Duchowna-1 exploration well. The well is a planned test of the Main Dolomite and Carboniferous horizons at a projected depth of 2,700 meters; the well is expected to reach total depth in the fourth quarter. The Gorka Duchowna-1 well is located in the northwest quadrant of the 240,000 acre Block 246 concession, where FX Energy is the operator and holds a 100% interest.
Main Dolomite and Carboniferous potential in the northwest quadrant of Block 246 is suggested by the nearby Bronsko and Koscian fields, located approximately 5 kilometers north, which reportedly contain approximately 1 Tcf of gas. The Carboniferous in Poland is the source of gas produced from reservoirs in other horizons, such as the Rotliegend and lower Zechstein. The Carboniferous in Poland is also known to include horizons of good porosity and has the potential to serve as a producing reservoir.
Lisewo-2 and Szymanowice Wells to Start
The Company also reported that the Lisewo-2 well is rigging up for an expected start of drilling next week, and site preparation is underway at the Szymanowice-1 well, which is expected to start drilling around the end of September. The Lisewo-2 and the Szymanowice-1 wells both are located in the Lisewo area of the Fences concession, where the Polish Oil and Gas Company (PGNiG) is the operator and holds 51% working interest and the Company holds 49% 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 Market under the symbol FXEN. Website www.fxenergy.com FORWARD-LOOKING STATEMENTS
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts