SALT LAKE CITY, Dec. 6 /PRNewswire-FirstCall/ -- FX Energy, Inc.
(Nasdaq: FXEN) reported today that the Rusocin-1 well reached the casing point
at the top of the Zechstein and is currently being logged after which casing
will be set and cemented and drilling will continue through the Zechstein
section.
The Sroda-4 well, the Company's first well in the Fences II project area
in western Poland, was logged and cased to the base of the Zechstein formation
at a depth of 3,550 meters. Drilling to test the planned Rotliegendes
sandstone target reservoir will resume once cementing operations are complete.
The Polish Oil and Gas Company ("POGC") owns a 51% interest and operates
both the Sroda-4 and Rusocin-1 wells and FX Energy owns 49%.
FX Energy holds interests in four project areas in Poland:
* The Fences I project area covers approximately 265,000 acres in
western Poland's Permian Basin. FX Energy holds a 49% interest except
for approximately 45,000 acres around the Zaniemysl-3 well where FX
holds 24.5%, CalEnergy holds 24.5% and POGC holds 51%.
* The Fences II project area covers approximately 670,000 acres in
western Poland's Permian Basin. FX Energy has a 49% interest in
Fences II and POGC holds 51%.
* The Fences III project area covers approximately 770,000 acres in
western Poland's Permian Basin. FX Energy holds a 100% interest.
* The Wilga project area covers approximately 250,000 acres in central
Poland; FX Energy holds a 45% interest.
For a discussion of the contingencies and uncertainties to which
information respecting future events is subject, see FX Energy's SEC reports
or visit FX Energy's website at http://www.fxenergy.com.
This release contains forward-looking statements. Forward-looking
statements are not guarantees of future drilling or other exploration or
development results, the actual presence or recoverability of estimated
reserves, the ability to establish reserves equal to the potential of
exploration targets, production amounts or revenues, construction costs or
schedules or similar matters. Forward-looking statements are subject to risks
and uncertainties outside FX Energy's control. Actual events or results may
differ materially from the forward-looking statements. For a discussion of
additional contingencies and uncertainties to which information respecting
future events is subject, see FX Energy's other SEC reports.
SOURCE FX Energy, Inc.
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Related links:
http://www.fxenergy.com
CONTACT:
Scott J. Duncan of FX Energy, Inc.,
+1-801-486-5555, or fax, +1-801-486-5575
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