FX Receives $8.25 Million from Exercise of Warrants

FX Energy, Inc. has received $8.25 million from the exercise of warrants. Proceeds from the exercise of the warrants increases the current cash position of FX Energy to over $43 million with no debt. The funds will be used primarily for the Company's oil and gas exploration and development program in Poland.

Currently the Sroda-4 well in the Company's Fences II project area in western Poland is drilling at a depth below 1,000 meters with a projected target depth of approximately 3,500 meters.

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