fxen
Re: fxen
•InPlay: FX Energy testing Tuchola-3K and Plawce-2 wells; Tuchola 3-K well encountered good hydrocarbon shows in two zones in a 215 meter gross section of reefoidal Upper DevonianBriefing.com(Tue, Apr 23)
source of that is here-----
http://finance.yahoo.com/news/fx-energy ... 00642.html
FX Energy Testing Tuchola-3K and Plawce-2 Wells
Press Release: FX Energy, Inc. – Tue, Apr 23, 2013 8:53 AM EDT....Email0
SALT LAKE CITY, April 23, 2013 /PRNewswire/ -- FX Energy, Inc. (FXEN) today reported on testing two of its wells in Poland.
Tuchola-3K Testing Upper Devonian
The Tuchola 3-K well encountered good hydrocarbon shows in two zones in a 215 meter gross section of reefoidal Upper Devonian. Logs and sidewall cores confirm good porosity and permeability in two separate zones. Operations are now underway to test both intervals through open-hole drill stem tests. If these tests are encouraging, a 7 inch liner will be set and the interval(s) will undergo stimulation and thorough production testing.
The Tuchola-3K well is the Company's first test well in one of the Edge concession blocks in northern Poland. Previous drilling by other companies encountered live oil and gas in a number of horizons in the region, including the Zechstein, Rotliegend, Devonian and Carboniferous. The Tuchola-3K well was designed to test the Zechstein Main Dolomite, the Upper Devonian and the Middle Devonian. FX Energy is the operator and owns 100% of the working interest.
Plawce-2 Frack Operations Underway
Field operations are underway to frack three intervals in the Rotliegend and carry out three separate production tests. Halliburton is expected to initiate fracking procedures later this week and it is anticipated that the project will take approximately three to five weeks with results available in the latter part of May. Halliburton will carry out three separate fracks at intervals between 3,760 and 4,098 meters. After all three fracks have been completed, each interval will undergo a five or six day production test.
The Plawce-2 well was completed in the third quarter of 2011 and is located in what is believed to be a several kilometer wide uplifted band of tight Rotliegend sandstone that stretches across the northern border of the Fences concession. The Plawce-2 well was designed to test whether a vertical multi-frack well could yield commercial production and whether this tight sand area merits further evaluation. The Plawce-2 well encountered 480 meters of tight Rotliegend sandstone. Logs, cores and a drill stem test yielded gas shows with no water. The Polish Oil and Gas Company is the Operator and owns 51% of the working interest; FX Energy owns the remaining 49% working interest.
source of that is here-----
http://finance.yahoo.com/news/fx-energy ... 00642.html
FX Energy Testing Tuchola-3K and Plawce-2 Wells
Press Release: FX Energy, Inc. – Tue, Apr 23, 2013 8:53 AM EDT....Email0
SALT LAKE CITY, April 23, 2013 /PRNewswire/ -- FX Energy, Inc. (FXEN) today reported on testing two of its wells in Poland.
Tuchola-3K Testing Upper Devonian
The Tuchola 3-K well encountered good hydrocarbon shows in two zones in a 215 meter gross section of reefoidal Upper Devonian. Logs and sidewall cores confirm good porosity and permeability in two separate zones. Operations are now underway to test both intervals through open-hole drill stem tests. If these tests are encouraging, a 7 inch liner will be set and the interval(s) will undergo stimulation and thorough production testing.
The Tuchola-3K well is the Company's first test well in one of the Edge concession blocks in northern Poland. Previous drilling by other companies encountered live oil and gas in a number of horizons in the region, including the Zechstein, Rotliegend, Devonian and Carboniferous. The Tuchola-3K well was designed to test the Zechstein Main Dolomite, the Upper Devonian and the Middle Devonian. FX Energy is the operator and owns 100% of the working interest.
Plawce-2 Frack Operations Underway
Field operations are underway to frack three intervals in the Rotliegend and carry out three separate production tests. Halliburton is expected to initiate fracking procedures later this week and it is anticipated that the project will take approximately three to five weeks with results available in the latter part of May. Halliburton will carry out three separate fracks at intervals between 3,760 and 4,098 meters. After all three fracks have been completed, each interval will undergo a five or six day production test.
The Plawce-2 well was completed in the third quarter of 2011 and is located in what is believed to be a several kilometer wide uplifted band of tight Rotliegend sandstone that stretches across the northern border of the Fences concession. The Plawce-2 well was designed to test whether a vertical multi-frack well could yield commercial production and whether this tight sand area merits further evaluation. The Plawce-2 well encountered 480 meters of tight Rotliegend sandstone. Logs, cores and a drill stem test yielded gas shows with no water. The Polish Oil and Gas Company is the Operator and owns 51% of the working interest; FX Energy owns the remaining 49% working interest.
Last edited by setliff on Sun Apr 28, 2013 3:57 pm, edited 1 time in total.
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wilmawatts
- Posts: 685
- Joined: Fri Apr 01, 2011 10:12 am
Re: fxen
Sorry. Was on the road when the news came out.
It looks like we have a big one on the line, I expect much higher prices if we can land it.
But like fishing, they don't count unless you can get them in the boat. FXEN management is great at telling 'big one' stories, and they are fishing in the right hole with the right tackle, but they need to get it in the boat this time.
I think the odds are on our side for at least a modest discovery, and if the rumors have any substance to them the fish might be one of the largest caught in Europe in years. Throw in $12 mcf gas and you have a double digit stock price. Soon.
But I am a skeptic of management here, we have heard the spin before and the fish did not get into the boat. They need to walk the walk.
We should know within 2 weeks much more details, DST testing is underway.
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Also, rumors are that Haliburton liked what they see at Plawce also, then again if they did not like what they see no use in the frac test. Plawce is another potential monster fish, but it will be several months I have heard before we get anything substantive from the frac program and test.
It looks like we have a big one on the line, I expect much higher prices if we can land it.
But like fishing, they don't count unless you can get them in the boat. FXEN management is great at telling 'big one' stories, and they are fishing in the right hole with the right tackle, but they need to get it in the boat this time.
I think the odds are on our side for at least a modest discovery, and if the rumors have any substance to them the fish might be one of the largest caught in Europe in years. Throw in $12 mcf gas and you have a double digit stock price. Soon.
But I am a skeptic of management here, we have heard the spin before and the fish did not get into the boat. They need to walk the walk.
We should know within 2 weeks much more details, DST testing is underway.
^^^^^^^
Also, rumors are that Haliburton liked what they see at Plawce also, then again if they did not like what they see no use in the frac test. Plawce is another potential monster fish, but it will be several months I have heard before we get anything substantive from the frac program and test.
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wilmawatts
- Posts: 685
- Joined: Fri Apr 01, 2011 10:12 am
Re: fxen
I did buy a bunch more shares at $2.84 by the way, not sure how bright that was. Rule one is never catch a falling knife.
But FXEN has proven preserves and is not going bankrupt, at least in my boat, so the current price does not have much risk in it.
Lots of institutions have been dumping over the last 6 months, explains the weakness, lots of supply and only limited demand.
Due to the spreads I bought shares this time versus options, but lots of activity in the options here also
But FXEN has proven preserves and is not going bankrupt, at least in my boat, so the current price does not have much risk in it.
Lots of institutions have been dumping over the last 6 months, explains the weakness, lots of supply and only limited demand.
Due to the spreads I bought shares this time versus options, but lots of activity in the options here also
Last edited by wilmawatts on Sun Apr 28, 2013 12:49 pm, edited 1 time in total.
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wilmawatts
- Posts: 685
- Joined: Fri Apr 01, 2011 10:12 am
Re: fxen
OptionMonster: Buyers hope for gusher in FX Energy
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OptionMonster
April 25, 2013 Thursday 8:11 AM EST
HEADLINE: Buyers hope for gusher in FX Energy
Apr 25, 2013 (OptionMonster)
FX Energy has fallen more than 60 percent in the last eight months, but its shares surged with bullish option trading yesterday.
More than 2,000 September 5 calls were bought as premiums rose from $0.15 to $0.35. The volume was nearly double the strike's open interest of 1,118 contracts before the session began, indicating new activity.
FXEN soared 27.04 percent yesterday to $3.43 after reporting positive signs in early exploration at a key drilling site in Poland, where the company primarily operates. Shares closed at their 50-day moving for the first time since early March but are still a far cry from their 52-week high of $8.78 reached last September.
Yesterday's long calls, which lock in the price where traders can buy the stock no matter how far it might climb, are looking for shares to rally above $5 in the next five months. That would be a gain of another 50 percent, back to levels not seen since early November. (See our Education section)
Total option volume in the name exceeded 4,900 contracts yesterday, compared with a daily average of just 212 contracts in the last month. Calls outnumbered puts by more than 10 to 1, a reflection of the session's bullish sentiment.
The Salt Lake City-based oil and natural-gas company has not yet scheduled its next earnings report.
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OptionMonster
April 25, 2013 Thursday 8:11 AM EST
HEADLINE: Buyers hope for gusher in FX Energy
Apr 25, 2013 (OptionMonster)
FX Energy has fallen more than 60 percent in the last eight months, but its shares surged with bullish option trading yesterday.
More than 2,000 September 5 calls were bought as premiums rose from $0.15 to $0.35. The volume was nearly double the strike's open interest of 1,118 contracts before the session began, indicating new activity.
FXEN soared 27.04 percent yesterday to $3.43 after reporting positive signs in early exploration at a key drilling site in Poland, where the company primarily operates. Shares closed at their 50-day moving for the first time since early March but are still a far cry from their 52-week high of $8.78 reached last September.
Yesterday's long calls, which lock in the price where traders can buy the stock no matter how far it might climb, are looking for shares to rally above $5 in the next five months. That would be a gain of another 50 percent, back to levels not seen since early November. (See our Education section)
Total option volume in the name exceeded 4,900 contracts yesterday, compared with a daily average of just 212 contracts in the last month. Calls outnumbered puts by more than 10 to 1, a reflection of the session's bullish sentiment.
The Salt Lake City-based oil and natural-gas company has not yet scheduled its next earnings report.