POLAND A Unique Play on the Strong European Gas Market May 2014 1
Market and Financial Overview Major Institutional Shareholders as of 12/31/2013 Financial Information as of 3/31/2014 Number of Shares % Holding Balance Sheet Unaudited Audited Income unaudited BlackRock Fund Advisors 3,450,162 6.2%…
Briefly: FX in Poland FX Energy is an oil and gas company focused on Poland Poland still has conventional gas deposits; our commercial wells average 17 Bcfe (P50 pre-tax reserves) and 4.5 Mmcf/d with very low decline rates over the…
Untapped Resources in Poland Poland has significant undiscovered hydrocarbon potential Permian Basin extends across Europe: Permian (Rotliegend) gas fields in Poland are direct analogs to those found in the UK and Dutch sectors of the…
Polish Gas Prices Are Higher Than US Polish Gas Price vs US Henry Hub (/mcf) Polish gas approximately 12/mmbtu 16 Poland 14 US FX 2013 average wellhead price: 12 10 8.89/mmbtu 8 7.11/mcf (80% methane gas) 6 4 2 0…
Poland: Sound Economy, Rule of Law Size: 312,000 sq. km (120,000 sq. mi.); comparable to Germany - or New Mexico Population: 38 million people; well educated, multi-lingual, culturally homogeneous; (Germany has 80 million; France…
FXs Production Base in Poland FX started building reserves in 2003 FX farmed into a good acreage block in 2000 (49% non-op interest in the Fences license) 73% successful on structural traps, but only averaged 1 well per year from 2000…
Steady Production Good Economics Production Profile - Average of 11 Fences Wells Estimated Future Net Revenues from Producing 5.0 180 Properties (P50) (millions) 160 50 4.0 140 Mmcfe/day Mcme/day 120 40 3.0 100 80 30 2.0…
FX Energy Licenses in Poland Focused on Fences and Edge licenses Five license areas cover 2.5 million gross acres FX holds 49% interest in Fences license (this is Edge our core license, the location of virtually all our 100%…
Fences License FX Core Area PGNiGs Paproc field 267 Bcf disc. 1982 Fences Fences FX 49% Block 229 FX 100% FX 24.5% Rotliegend gas potential Rotliegend gas fields from the Block 246 PGNiGs Radlin field 1980s showed area…
2014 Plans for Fences License Fences License (FX 49%) Miloslaw E. 2014 drill Fences Lisewo-1 started production 4Q2013; K-3=1Q14; L-2=3Q14; Szy=1Q15 Baraniec 2014 drill Zaniemysl-3 sidetrack 2H14 Ciemierow 2014 drill…
Backlog of 20 Undrilled Prospects Miloslaw Area Lisewo Area FX invested 40 million in 3D seismic 2011-2013 Long lead time to acquire, process and interpret Payoff we now have 20 drill ready prospects on 3D with potential…
Growth in the Fences License 20 undrilled 3-D defined Rotliegend structural prospects with 400 Bcf of gross unrisked potential recoverable reserves FXs 49% share, unrisked, is approximately 200 Bcf, or 4 times current proved reserves…
FX 100% Licenses Edge license: new discoveries signal potential for major hydrocarbon play Two wells capable of an estimated 24 Mmcf/d net to FX 100% working interest This rate would nearly triple the Companys current net gas…
Edge License Tuchola Gas Field Edge license Tuchola-3K, -4K Tuchola-4K Tuchola-3K Tuchola Results Signal a Significant New Area for FX to Explore 24 Mmcfe/day forecast from Tuchola-3K and -4K wells combined; could nearly…
Tuchola Development Tuchola Field Tuchola-4K Tuchola-3K Tuchola Gas Field Alone May Support Development, Subject to Reserves Permitting to start immediately on facilities and pipeline Total cost of production facilities,…
Edge Exploration Edge license source rocks Edge license gravity map Ongoing Exploration in the Edge License Known Carboniferous and Devonian source rock Edge license 2D map Carbonate deposits along Zechstein/Devonian shorelines…
Recap FXEN has many 3D targets, its best-ever drilling schedule and the funds to carry out its 2014 plan 2013: capex approx. 50 million; 5 wells drilled plus extra seismic 2014: capex planned at 55 million; 7 wells planned plus some…
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