SALT LAKE CITY, Oct. 2, 2015 /PRNewswire/ -- FX Energy,
Inc. (NASDAQ: FXEN) today reported that drilling, coring,
logging and testing of the Miloslaw-4k well have been
completed. The well flowed gas with no observable water at a
rate of 4.32 mmcfg/d on a 16/64" choke from a 41.3 meter interval
in the Rotliegend sandstone. True vertical depth of the
producing zone is from 3632.9 meters to 3674.2 meters, the longest
producing interval of any of the Company's wells in Poland.
The well is being completed and is expected to begin producing in
2016/2017.
The well tested a Rotliegend sandstone target located in the
Fences license approximately 15 kilometers northwest of the
producing wells at Lisewo-1 and 2. The Miloslaw prospect is one of
the largest conventional prospects FX Energy has drilled in
Poland. The Polish Oil and Gas Company is the operator and
owns 51% of the working interest; FX Energy owns 49%.
About FX Energy
FX Energy is an independent oil and gas exploration and
production company with production in the US and Poland. The Company's main exploration and
production activity is focused on Poland's Permian Basin where the gas-bearing
Rotliegend sandstone is a direct analog to the Southern Gas Basin
offshore England. The Company
trades on the NASDAQ Global Select Market under the symbol FXEN.
Website www.fxenergy.com.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements. Forward-looking
statements are not guarantees. For example, exploration, drilling,
development, construction or other projects or operations may be
subject to the successful completion of technical work;
environmental, governmental or partner approvals; equipment
availability, or other things that are or may be beyond the control
of the Company. Operations that are anticipated, planned or
scheduled may be changed, delayed, take longer than expected, fail
to accomplish intended results, or not take place at all. Actual
production over time may be more or less than estimates of
reserves, including proved and P50 or other reserve measures.
In carrying out exploration it is necessary to identify and
evaluate risks and potential rewards. This identification and
evaluation is informed by science but remains inherently uncertain.
Subsurface features that appear to be possible traps may not exist
at all, may be smaller than interpreted, may not contain
hydrocarbons, may not contain the quantity or quality estimated, or
may have reservoir conditions that do not allow adequate recovery
to render a discovery commercial or profitable. Forward-looking
statements about the size, potential or likelihood of discovery
with respect to exploration targets are certainly not guarantees of
discovery or of the actual presence or recoverability of
hydrocarbons, or of the ability to produce in commercial or
profitable quantities. Estimates of potential typically do not take
into account all the risks of drilling and completion nor do they
take into account the fact that hydrocarbon volumes are never 100%
recoverable. Such estimates are part of the complex process of
trying to measure and evaluate risk and reward in an uncertain
industry.
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
SEC reports or visit FX Energy's website at www.fxenergy.com.
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SOURCE FX Energy, Inc.