FX Energy Plans European Equity Offering

FX Energy will offer up to 2,500,000 shares of common stock for sale exclusively to institutional investors in Europe. Proceeds from the offering would be allocated toward continuing FX Energy planned exploration activities, development and production facilities in the Fences project areas and other capital costs in Poland, as well as other general corporate purposes.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities.

FX Energy holds interests in five project areas in Poland:

  • The Fences I project area covers approximately 265,000 acres in western Poland's Permian Basin. FX Energy holds a 49% interest except for a few thousand acres around the Zaniemysl-3 well where FX holds 24.5% and CalEnergy holds 24.5%. POGC holds 51%.
  • The Fences II project area covers approximately 670,000 acres in western Poland's Permian Basin. FX Energy has a 49% interest in Fences II and POGC holds 51%.
  • The Fences III project area covers approximately 770,000 acres in western Poland's Permian Basin. FX Energy holds a 100% interest.
  • The Wilga project area covers approximately 250,000 acres in central Poland; FX Energy holds a 45% interest.
  • The Pomerania project area covers approximately 2.2 million acres in western Poland's Permian Basin. FX Energy holds a 100% interest in the Pomerania project area except for one block of approximately 225,000 acres, where its interest is 85% and POGC holds 15%. FX will drop the Pomerania project area this year.
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