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.