FX Energy Updates Drilling Status on Kutno-2 Well
Published on Thursday, 09 August 2012 16:32 Written by TradersHuddle Staff
SALT LAKE CITY, Aug. 9, 2012 /PRNewswire/ -- FX Energy, Inc. (NASDAQ: FXEN) today reported that the Kutno-2 well in central Poland is now at a depth of 6,210 meters (20,374 feet). The Company is currently preparing to run and cement a liner through the Zechstein formation and then drill and core ahead.
The Kutno-2 well is being drilled together with the Polish Oil and Gas Company ("PGNiG"). PGNiG will earn a 50% interest in the Kutno concession in connection with its participation in the Kutno-2 well.
About FX Energy
FX Energy is an independent oil and gas exploration and production company with production in the US and Poland. The Company's main exploration and production 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 Select Market under the symbol FXEN. Website www.fxenergy.com.
This report contains forward-looking statements. Forward-looking statements are not guarantees. For example, exploration, drilling, development, construction or other projects or operations may be subject to the successful completion of technical work; environmental, governmental or partner approvals; equipment availability, or other things that are or may be beyond the control of the Company. Operations that are anticipated, planned or scheduled may be changed, delayed, take longer than expected, fail to accomplish intended results, or not take place at all. Actual production over time may be more or less than estimates of reserves, including proved and P50 or other reserve measures.
In carrying out exploration it is necessary to identify and evaluate risks and potential rewards. This identification and evaluation is informed by science but remains inherently uncertain. Subsurface features that appear to be possible traps may not exist at all, may be smaller than interpreted, may not contain hydrocarbons, may not contain the quantity or quality estimated, or may have reservoir conditions that do not allow adequate recovery to render a discovery commercial or profitable. Forward-looking statements about the size, potential or likelihood of discovery with respect to exploration targets are certainly not guarantees of discovery or of the actual presence or recoverability of hydrocarbons, or of the ability to produce in commercial or profitable quantities. Estimates of potential typically do not take into account all the risks of drilling and completion nor do they take into account the fact that hydrocarbon volumes are never 100% recoverable. Such estimates are part of the complex process of trying to measure and evaluate risk and reward in an uncertain industry.
Forward-looking statements are subject to risks and uncertainties outside FX Energy's control. Actual events or results may differ materially from the forward-looking statements. For a discussion of additional contingencies and uncertainties to which information respecting future events is subject, see FX Energy's SEC reports or visit FX Energy's website at www.fxenergy.com.
SOURCE FX Energy, Inc.
- FX Energy Reports Successful Production Test at Tuchola-3K Well
- FX Energy Details Test Programs for Plawce and Tuchola Wells
- FX Energy Reports Gas Flow at Tuchola-3K Well; Production Test to Start
- FX Energy Testing Tuchola-3K and Plawce-2 Wells
- FX Energy to Present at IPAA Oil and Gas Investment Symposium in New York
- FX Energy to Test Plawce-2 and Tuchola-3K Wells; Reports Mieczewo-1K Results
- FX Energy Miesczewo-1K Well Flows Gas
- FX Energy Reports 2012 Year-end Reserves; Updates Production
- FX Energy Updates Progress at Mieczewo-1K and Tuchola-3K Wells
- FX Energy Reports on Main Dolomite Test in Tuchola-3K Well
Related Partner Headlines
- FX Energy to Plug and Abandon Kutno-2 Well - Benzinga
- FX Energy Inc. Stock Downgraded (FXEN) - TheStreet.com
- FX Energy Provides Operations Update - Benzinga
- From Earlier: FX Energy Updates Status of Polish Operations - Benzinga
- FX Energy Inc. Stock Upgraded (FXEN) - TheStreet.com
- Yesterday's Strength in FX Energy is Likely Attributed to Positive Seeking Alpha Article - Benzinga
- FX Energy Reports 2011 Year-end Reserves; Updates Production and Operations - Benzinga
- FX Energy Inc. Stock Downgraded (FXEN) - TheStreet.com
- FX Energy Stock Hits New 52-Week Low (FXEN) - TheStreet.com
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