Why FX Energy (FXEN) Stock Is Gaining Today

NEW YORK (TheStreet) -- FX Energy (FXEN) was jumping 19.1% to $5.54 Wednesday after reporting an estimated production rate of 24 million cubic feet a day (mmcf/d) for its Tuchola field.

The estimated production rate is based on the production test on the Tuchola-4K well the company first reported on April 21.The calculated absolute flow rate for the Tuchola-4K well was 117 mmcf/d, compared to a calculated absolute flow rate of 98 mmcf/d ffor the Tuchola-3K well. FX Energyt expects estimated initial stabilized production rate for the two wells to be about 24 mmcf/d.

In a statement vice president of operations for FX Energy call the flow rates "significantly better than we had hoped."

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TheStreet Ratings team rates FX ENERGY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FX ENERGY INC (FXEN) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally high debt management risk."

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