SALT LAKE CITY
Feb. 3, 2014
FX Energy, Inc.
(NASDAQ: FXEN) reported that the road and location work at the Company's Tuchola-4K well has been completed. Rigging up is in process and drilling is expected to begin in approximately two weeks.
Tuchola-4K is an offset location to the Tuchola-3K discovery well drilled in 2013. The Company plans to drill and test the Tuchola-4K well during the first half of 2014. Approximately 110 square kilometers of high definition 3D seismic has been acquired and interpreted in this area. This is part of a total 220 square kilometer seismic program to identify additional targets in the Edge concessions. The Edge concessions, where the Tuchola wells are located, are 100% owned and operated by FX Energy.
About FX Energy
FX Energy is an independent oil and gas exploration and production company with production in the US and
. The Company's main exploration and production activity is focused on
Permian Basin where the gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore
. The Company trades on the NASDAQ Global Market under the symbol FXEN. Website
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.
In carrying out exploration it is necessary to identify and evaluate risks and potential rewards. This identification and evaluation is informed by science but remains inherently uncertain. Subsurface features that appear to be possible traps may not exist at all, may be smaller than interpreted, may not contain hydrocarbons, may not contain the quantity or quality estimated, or may have reservoir conditions that do not allow adequate recovery to render a discovery commercial or profitable. Forward-looking statements about the size, potential or likelihood of discovery with respect to exploration targets are certainly not guarantees of discovery or of the actual presence or recoverability of hydrocarbons, or of the ability to produce in commercial or profitable quantities. Estimates of potential typically do not take into account all the risks of drilling and completion nor do they take into account the fact that hydrocarbon volumes are never 100% recoverable. Such estimates are part of the complex process of trying to measure and evaluate risk and reward in an uncertain industry.