If Kutno-2 well is successful, FXEN's share price will take off.
Salt Lake City, April 2, 2012 – FX Energy, Inc. (NASDAQ: FXEN) today announced that drilling has commenced on the Komorze-3K well in the Fences concession in central Poland. The Komorze-3K well targets one of five satellite structures located near the Lisewo-1 discovery that was completed in 2011. The five satellite structures have an estimated 60 Bcf in gross potential. PGNiG is the operator of the well and the Fences concession and owns a 51% interest; the Company owns 49%.
“We are currently in the design phase of the facilities to bring the Lisewo-1 well, and if successful, the satellite wells into production in 2013,” said Andy Pierce, VP of Operations for FX Energy. “In addition, we are processing and interpreting the 3-D seismic data on the structural extension southeast of the Lisewo-1 discovery. We plan to drill two more wells in this area yet this year.”
The Company also reported that the Kutno-2 well in Poland is currently drilling below 4,300 meters (14,100 feet) with a projected total depth of 6,450 meters (21,160 feet).