FX Energy begins drilling Tuchola-3K well FX Energy reported that the drilling rig from the Kutno-2 well has been moved to the Tuchola-3K location and drilling operations are underway. The main target reservoir of the Tuchola-3K well is the Main Dolomite at a projected depth of 2,550 meters. The well is also planned to test a Devonian oil target at a depth of approximately 3,150 meters. The Tuchola-3K well is located on the company's 100% owned Edge concession in northwestern Poland. The company has identified several prospects within the Edge concession acreage. FX Energy is the operator of the Edge concession. The company also reported that the Mieczewo-1 well is scheduled to begin drilling within the next several weeks.
News For FXEN From The Last 14 Days
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FX Energy upgraded to Outperform from In-Line at Imperial Capital Imperial Capital upgraded FX Energy to Outperform citing increased confidence following the Tuchola-4K production test results. The firm raised its price target for shares to $6.50 fro $3.60.