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May 28, 2014
08:21 EDTFXENFX Energy reports Tuchola Field gas volumes
FX Energy announced its internal estimate of gas volumes for the Tuchola field in north central Poland, where the company holds 100% working interest in 730,000 acres. The dynamic flow test data indicate 20 Bcf of gas in place, although a pressure buildup at the end of the test could indicate a somewhat higher figure. This compares to a volumetric mid-point estimate of 19.5 Bcf of gas in place. The company estimates recoverable gas at 60%-65% of actual gas in place. The company also estimates field production of 9 barrels per day of condensate. The company is proceeding with design and permit work to get the Tuchola field into production as early as year-end 2016.
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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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