Exploration & Production
FX Energy Selects Two New Exploratory Wells
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FX Energy, Inc. announced it has added two new exploratory wells to those already scheduled for drilling in 2012. The new wells, Tuchola-3 and Frankowo, will test prospects in two of the Company’s 100%-owned concessions in Poland. These wells will enable the Company to increase the momentum of its most active drilling year to date. The new wells will fit within the previously reported $60 to $70 million capital budget. The Company expects to fund its full capital budget from existing cash and liquidity resources.
The Frankowo well is located in FX’s 100% held Block 246 concession in west central Poland. Rotliegend gas at approximately 2200 meters will be the prospective target for this well. Though an exploratory or “wildcat” well, the Company has a history of successfully pursuing…
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