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FX Energy Begins Drilling Lisewo-2 Well; Reports Progress On Two Other Wells

Stocks in this article: FXEN

 

SALT LAKE CITY, Sept. 4, 2013 /PRNewswire/ --  FX Energy, Inc. (NASDAQ: FXEN) today reported that drilling has started at the Lisewo-2 well. The Lisewo-2 well is a development well that targets the Lisewo structure previously discovered by the Lisewo-1 well.  Lisewo-2 is intended to accelerate production from the structure.  The Lisewo production facility, scheduled to begin producing about the end of September, is designed to serve both Lisewo-1 and Lisewo-2, in addition to the Komorze-3 well.

The Lisewo-2 well is located in 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.

Szymanowice Well to Start

The Company also reported that site preparation is underway at the Szymanowice-1 well, which is expected to start drilling around the end of September. The Szymanowice-1 well is 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.

Gorka Duchowna-1 Well Drilling Ahead

The Company also reported that the Gorka Duchowna-1 well is drilling ahead at a depth of approximately 440 meters in a planned 2,700 meter test of the Main Dolomite and Carboniferous horizons. 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.

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

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