FX Energy, Inc. on Kromolice-1 Well Flows Gas
FX Energy, Inc. is reported to have announced a successful drill stem test (DST) of the Company’s Kromolice-1 well. Located in west central Poland, this exploratory well flowed gas with no water in this first DST. The nearest existing gas discovery is the Company’s Sroda-4 well some 5 kilometers to the southeast.
Vice President of Operations, Andy Pierce, remarked, “We are encouraged with this initial DST, but keep in mind we’ve only drilled a few meters into the pay zone so far. We have more drilling, coring and testing to do before we can say for sure whether this is a producible gas deposit. But so far everything looks just like we expected.”
At the time of the DST the Kromolice-1 well had cored a total of 4.5 meters of porous Rotliegend sandstone. The well will be drilled another 50 meters or so, with additional cores and logs to determine the full extent of the pay zone and other reservoir parameters. The Polish Oil and Gas Company is the operator and owns 51%; FX Energy owns 49% of the working interest.
The Kromolice-1 well is being drilled on the Kromolice North prospect, a structural trap located in the Company’s “Fences” concession. During the previous four years the Company has drilled five other structural traps in the Fences concession. Four of the five wells achieved commercial rates of production. Kromolice and the five previous wells were drilled on separate structural traps. Kromolice-1 is the first well to be drilled on the Company’s new 3-D seismic acquired in 2007.
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.
Contact: SCOTT J. DUNCAN FX Energy, Inc. 3006 Highland Drive, Suite 206 Salt Lake City, Utah 84106 (801) 486-5555 Fax (801) 486-5575
http://www.fxenergy.com
Source: FX Energy, Inc.
