"We do not currently have enough information to confirm that the well is commercial because we have only drilled the top of the structure. We will continue to drill and test the Rusocin-1 well over the next week to ten days and report results as they are available," said David Pierce, president of FX Energy. The Rusocin-1 well is the first test of a "pinchout" type target reservoir in the Company's Fences I project area.
The Company also reported that the Sroda-4 well in the Fences II project area is cased to the base of the Zechstein section and has not yet resumed drilling to test the Rotliegendes target reservoir. The delay is due to an incomplete cement job in the Zechstein which must be remediated before drilling.
"This is not a significant problem and we expect POGC as operator of the well to determine the best way to deal with it and to begin drilling again within the next two weeks," stated Andy Pierce, COO of FX Energy.
The Polish Oil and Gas Company ("POGC") owns a 51% interest and operates both the Sroda-4 and Rusocin-1 wells and FX Energy owns 49%.
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