FX Energy to Test Plawce-2 and Tuchola-3K Wells; Reports Mieczewo-1K Results

 FX Energy to Test Plawce-2 and Tuchola-3K Wells; Reports Mieczewo-1K Results

PR Newswire

SALT LAKE CITY, April 8, 2013

SALT LAKE CITY, April 8, 2013 /PRNewswire/ --FX Energy, Inc. (NASDAQ: FXEN)
today reported on plans for three of its wells in Poland.

Plawce-2 Frac Operations Underway

Field operations are underway to frac three intervals in the Rotliegend and
carry out three separate production tests. The project is expected to take
approximately four to six weeks in total and results are anticipated in the
latter part of May. Halliburton will carry out three separate fracs at
intervals between 3,760 and 4,098 meters. After all three fracs have been
completed, each interval will undergo a five or six day production test.

The Plawce-2 well was completed in the 3^rd quarter of 2011 and is located in
what is believed to be a several kilometer wide uplifted band of tight
Rotliegend sandstone that stretches across the northern border of the Fences
concession. The Plawce-2 well was designed to test whether a vertical
multi-frac well could yield commercial production and whether this tight sand
band merits further evaluation. The Plawce-2 well encountered 480 meters of
tight Rotliegend sandstone. Logs, cores and a drill stem test yielded gas
shows with no water. The Polish Oil and Gas Company is the Operator and owns
51% of the working interest; FX Energy owns the remaining 49% working
interest.

Tuchola-3K to Test Upper Devonian

The Tuchola-3K encountered good light hydrocarbon shows but poor reservoir
quality in a 36 meter section of the Main Dolomite. Deeper in the well it also
encountered very good hydrocarbon shows and up to 20% interpreted log porosity
within a 100 meter section of the reefoidal Upper Devonian. This horizon
warrants further testing.

The well is now approximately 340 meters from an estimated total depth of
3,980 meters, where the target is oil in the middle Devonian sands. Once
drilling is complete the Company plans to log, evaluate the middle Devonian,
and then move uphole to test the reefoidal Upper Devonian.

Meanwhile, the Company's technical team has recalibrated the seismic to
directly image porous dolomite in the Main Dolomite near the existing
wellbore. If they interpret better reservoir quality nearby, and if the well
is not completed for production in the Devonian, the Company is considering a
side-track operation further uphole to test the Main Dolomite a few hundred
meters away from the current well bore.

The Tuchola-3K well is the Company's first test well in one of the Edge
concession blocks in northern Poland. Previous drilling by other companies
encountered live oil and gas in a number of horizons in the region, including
the Zechstein, Rotliegend, Devonian and Carboniferous. The Tuchola-3K well was
designed to test the Zechstein Main Dolomite, the Upper Devonian and middle
Devonian. FX Energy is the operator and owns 100% of the working interest.

Mieczewo-1K Results

The Mieczewo well was drilled on a small Rotliegend structural target in the
western part of the Fences concession. It is the Company's thirteenth well
targeting a Rotliegend structural feature. A drill stem test of the upper 9.6
meters of Rotliegend flowed gas with no water. The well now has been completed
and production tested. Based on test results plus log and core data it appears
the gas column is not much more than 10 meters. This is not commercial and the
well will be plugged and abandoned. The Polish Oil and Gas Company is the
Operator and owns 51% of the working interest; FX Energy owns the remaining
49% working interest.

"Of course we are disappointed that the trap is too small to be commercial,"
said David Pierce, FX Energy's CEO. "This small a target would not have been
on our drilling schedule but for encroaching home building which forced the
decision to drill now or permanently abandon the target. Our primary focus in
the Fences concession is on much larger targets, such as the Lisewo area where
we plan to begin production and drill 2 to 3 more wells later this year."

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.

FORWARD-LOOKING STATEMENTS

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.

Website: http://www.fxenergy.com
Contact: Scott J. Duncan, FX Energy, Inc., (801) 486-5555 Fax, (801) 486-5575
 
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