FXEN: Encouraging well test

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dan_s
Posts: 37392
Joined: Fri Apr 23, 2010 8:22 am

FXEN: Encouraging well test

Post by dan_s »

What FX Energy needs to do is find something like this and then stay focused on developing it. They need to quit "elephant hunting" and stay focused on building production and proven reserves. Note that they own 100% of this huge acreage block. - Dan

Salt Lake City, April 29, 2013 – FX Energy, Inc. (NASDAQ: FXEN) today reported results of a drill stem test (DST) on the Tuchola-3K well in north-central Poland. Gas flowed at a rate of approximately 5 million cubic feet per day with traces of condensate from a dolomite section in the Ca1/Upper Devonian.

The Company now will run a 7” liner to a depth of approximately 2,700 meters and conduct a full production test over the next several days to determine whether to complete the well as a commercial discovery.

“We have not yet determined if the well is commercial,” noted David Pierce, CEO, “but we are cautiously optimistic and therefore will run a liner to allow more thorough testing. We are also reviewing a range of possible follow-on actions, including other potential drilling locations, to appraise the scope and potential of this Ca1/Upper Devonian zone both nearby and right across our Edge concessions. We will have plans ready for a prompt response if the production test is encouraging.”

FX Energy is the operator and owns 100% of the working interest in the Tuchola well and the four Edge concession blocks, which cover 880,000 acres or 3,567 square kilometers.
Dan Steffens
Energy Prospectus Group
wilmawatts
Posts: 685
Joined: Fri Apr 01, 2011 10:12 am

Re: FXEN: Encouraging well test

Post by wilmawatts »

Stock responded well today

If this is the real thing stock price could triple

we will see if this is the real thing this time
wilmawatts
Posts: 685
Joined: Fri Apr 01, 2011 10:12 am

Re: FXEN: Encouraging well test

Post by wilmawatts »

Conf call here this coming Thursday. Stay tuned
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