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News Breaks
April 22, 2014
05:33 EDTFXENFX 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.
News For FXEN From The Last 14 Days
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August 26, 2014
17:22 EDTFXENFX Energy begins drilling Baraniec-1 Well, picks contractor for Angowice-1 Well
FX Energy announced that drilling has started at the Baraniec-1 well in the company's 49% owned Fences license in west-central Poland. The well targets a 3-D defined Rotliegend sandstone structure at a depth of approximately 3,885 meters. Baraniec-1 will be the fifth well in the Lisewo area in the eastern portion of the Fences license. The Company also reported that the Karmin-1 well is drilling now below 1,740 meters toward a target depth of approximately 2,460 meters. The target is a 3-D defined Rotliegend structure on trend with the Roszkow-1 and Zaniemysl-3 wells, two of the Company's highest rate producing discoveries.Two additional wells have been approved for drilling in the Fences license: Miloslaw-4, planned to start drilling in the fourth quarter this year, and Przybyslaw-1, planned for the first quarter of 2015. Miloslaw-4 will be the first well in the Miloslaw area northwest of the Lisewo area; Przybyslaw-1 will be the sixth well in the Lisewo area.The Fences license covers approximately 850,000 acres. The Polish Oil and Gas Company, PGNiG, is the operator and owns 51% of the working interest; the Company owns 49% of the working interest. The Company has selected a drilling contractor for the Angowice-1 well in the Edge license and site preparation is in progress. Angowice-1 targets a Devonian reefoidal buildup, similar to the productive horizon at the Tuchola field. The Angowice-1 is located approximately 12 kilometers west of the Tuchola wells and is one of four similar prospects clustered together. The well is expected to start drilling in approximately five to six weeks. The Edge license covers approximately 730,000 acres. The company operates and owns 100% of the working interest.

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