Polish-Focused FX Energy Reports On Drilling

FX Energy, the independent explorer focused on Poland, has reported that drilling has commenced on the Mieczewo-1K exploration well.

The well is a planned test of a Rotliegend structure at a projected depth of 3,360 meters. It is located in the western part of the 850,000 acre Fences concession, where the Polish Oil and Gas Company (PGNiG) is the owner and operator of the concession, holding a 51% interest, with FX having the remaining 49%.

FX Energy also reported that the Tuchola-3K well, which began drilling in late December, is currently at a depth of 2,053 meters. The Tuchola-3K well is planned to test a Main Dolomite target at approximately 2,550 meters and an independent Devonian oil target at a depth of 3,180-3,820 meters.

The Tuchola-3K well is located on one of four blocks that comprise the 880,000 acre Edge concession area in northern Poland.

FX Energy holds a 100% interest and operates the Tuchola-3K well and the Edge concession area.

The Utah-based 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.