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News For FXEN From The Last 14 Days
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November 10, 2014
16:02 EDTFXENFX Energy reports Q3 adjusted EPS (6c), consensus (4c)
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07:03 EDTFXENFX Energy reports drilling results at Baraniec well, Angowice well
FX Energy reported that the Baraniec-1 well was drilled to approximately 4,000 meters. At approximately 3,900 meters the well encountered a 48 meter gas saturated section of tight Rotliegend sandstone with 10-12% porosity. Two separate drill stem tests were performed with sub-commercial results and the well was plugged and abandoned. At the same time, logs, cores and test data are being analyzed to determine whether there is a technical solution for achieving commercial results from this tight gas reservoir. The Baraniec-1 well is located in the Fences license in western Poland where the Polish Oil and Gas company is the operator and owns 51% of the working interest; FX Energy owns 49% of the working interest. The company also reported that the Angowice-1 well is currently drilling at a depth of 2,276 meters. The main target is a Devonian carbonate buildup similar on seismic expression to the productive horizon at the Company's Tuchola field. The Angowice-1 is planned to drill to a total depth of approximately 3,500 meters with multiple targets in the middle and lower Zechstein and the upper and middle Devonian. The well is testing one of four structural features clustered in an area approximately 12 kilometers northwest of the company's Tuchola field. The Angowice-1 well is located in the Edge license in northwestern Poland where the Company is the operator and owns 100% of the working interest.

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