FXEN

[dan_s]

Tom Lovejoy, FXEN is the featured speaker at our EPG luncheon on March 31. Please register ASAP with Kim as we are expecting a very large crowd. I talked to the company the other day. They have a decent size block of acreage with Bakken potential. - dan

FX Energy Announces Drilling Start on Plawce-2 Tight Gas Well
Salt Lake City, March 23, 2011 – FX Energy, Inc. (NASDAQ: FXEN) today announced that drilling has commenced on the Plawce-2 well near the north border of the Fences concession. Plawce-2 is targeting Rotliegend sands at an estimated depth of approximately 3,729 meters. Plans call for drilling to a vertical depth of approximately 4,000 meters. Following evaluation of cores, logs and flow tests, the parties may consider fraccing the vertical well and/or drilling a long reach multi frac horizontal section. PGNiG operates the Fences concession and the Plawce-2 well and owns 51% interest; the Company owns 49%.

The Siekierki Plawce tight gas area was discovered by a series of five wells drilled in the 1970’s and 1980’s by PGNiG. These wells encountered gas columns of more than 100 meters in tight Rotliegend sandstone. Recently, Aurelian Oil and Gas PLC (AIM: AUL) has drilled and fracced two wells which successfully tested gas and is now drilling a third well in this tight sandstone immediately to the north of the Fences concession. The closest producing analog is the Soehlingen field in northern Germany, operated by ExxonMobil (NYSE:XOM).

Machnatka-2 well in Warsaw South Concession
The Company also reported that it has started the tender process to select the rig for drilling the Machnatka-2 well, a test of both the Zechstein and the Carboniferous horizons in the Company’s 880,000 acre Warsaw South concession located in Eastern Poland. The Company is the operator and expects to award the drilling contract next month with drilling operations commencing during the second quarter this year. The Company has signed a letter of intent under which PGNiG may earn up to 49% interest.

Kutno-2 well in Kutno Concession
The Kutno-2 well is also in the tender process with pre-qualification offers from drilling companies expected to be received as early as this week. The Company is the operator of this 35,000 acre Rotliegend structure located in central Poland at a depth of 6,500 meters. The Company has signed a joint operating agreement under which PGNiG may earn 50% interest, and a letter of intent under which Kulczyk Investments LLC may earn up to 25% interest.

Bakken test well in US Cut Bank Field
In the US, the Company is preparing to re-enter one of its existing wells in the Cut Bank field in northern Montana in the next few days. The Company will deepen the well to test CO2 potential in the Duperow, and oil potential in the Nisku, Three Forks, Bakken and Lodgepole formations. Data from this operation will help shape the Company’s plans near term; the well will be plugged when testing is complete.

David Pierce, FX Energy’s Chief Executive Officer, said, “The Plawce-2 well is an important test of this very large tight reservoir. If successful, the Plawce-2 well could have positive implications for a significant portion of our acreage in the northern border area of the Fences concession. We look forward
to evaluating the results of the vertical section of this well in a few months time. We will make our drilling, completion and fraccing decisions based on data and with a focus on economics. In the meantime, we are preparing to start three other wells in the next few months: Machnatka-2 in the Warsaw South concession, Kutno-2 in the Kutno concession, and a Bakken test well in our US Cut Bank field. Plawce-2 and each of the three other wells could have a material impact on the Company. This should be an exciting year for us on the drilling front.”

An updated investor presentation may be viewed on our website at www.fxenergy.com.

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 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 Market under the symbol FXEN. Website www.fxenergy.com

[dan_s]

From the TPH Wildcat Update (March 24):

FX Energy ops update (FXEN US - $8.05 - NR- $414mm) - Gas focused FX
announces plans to drill first tight gas well (Plawce-2 -125Bcfe) in Poland.
Siekierki Plawce tight gas was discovered in 1970-1980 with a series of wells
encountering tight sandstone (100m column). Aurelian (AUL LN - NR) has recently
drilled two successful wells which flowed 7 and 17mmcf/d respectively in the
region testing the same play concept. Biggest game changer will be company’s
results on huge conventional prospect... Kunto-2 with up to 19TCF gas initially
in place.

[wilmawatts]

We had a twenty minute interview late last week on the energy sector with Jim Puplava of the FSN network. We think this is one of the most bullish times in the last three decades to be invested in the energy sector—as well as the agricultural sector—and think the trends are long term and should benefit investors for years. Our discussion can be accessed at the following link:

http://www.lsgifund.com/index_files/Page960.htm

While we did not talk stocks in the interview, just long term trends, we continue to find FX Energy (FXEN), GeoResources (GEOI), and Evolution Petroleum (EPM) very attractive in the energy sector, and Art’s Way Manufacturing (ARTW) and Titan Machinery (TITN) very attractive in the agriculture sector. All are small or microcap firms with an attractive niche, and all are growing and undervalued in our opinion. We have a large position in each company in the LSGI portfolio.

[dan_s]

Tom Lovejoy's presentation at our March 31 luncheon is now available on the website. If you own FXEN you should listen to it. The quality is very good.

[dan_s]

Salt Lake City, April 6, 2011 – FX Energy, Inc. (Nasdaq: FXEN) is rigging up to begin the re-entry of an existing wellbore in northern Montana. The purpose of the re-entry is to gather data from the wellbore to assist the Company in evaluating the hydrocarbon and CO2 potential in the Company’s northern Montana acreage. The well will be deepened from its current depth in the Cutbank formation of approximately 3,216 feet. Samples will be taken from the Lodgepole, Bakken, Nisku and Duperow formations at depths ranging from 4,400 to 5,500 feet. The well will be drilled by the Company’s wholly owned subsidiary, FX Drilling Company headquartered in Oilmont, Montana.
“This is the first step in a thorough program aimed at evaluating the potential of the Bakken trend in our area of the Alberta Basin. We are in discussions with other companies with the hope of expanding our position in the trend,” said Andy Pierce VP of Operations for FX Energy.
Following completion of the re-entry project the well will be plugged and abandoned. For strategic reasons, results of the test will remain confidential.

[par_putt]

Dan , is rose, fxen and pie all in the same 'fairway' region?