Production Test at Kromolice-1 Encouraging for FX Energy

Poland's Fences 1 and 2
(Click to Enlarge)

FX Energy released production test and log interpretation data for the Company's recent Kromolice-1 well in the "Fences Concession" of central Poland.

The well encountered a 48 meter gas saturated column of Rotliegend sandstone from 3,548 to 3,596 meters with average porosity ranging from 14% to approximately 20%. Drill stem tests yielded a calculated maximum absolute open flow of 50 to 64 million cubic feet of gas per day. The production test following completion of the well indicates a likely initial plateau production rate of approximately 7 million cubic feet of gas per day once production facilities are in place.

Jerzy Maciolek, Vice President of International Exploration, said, "Potentially, this could be a very important well for us. The similarity of logs, reservoir characteristics and gas/water contact between Kromolice-1 and Sroda-4 implies the possibility that both wells could be in a single, continuous reservoir. That would imply a large reservoir by horizontal areal extent as these wells are 5 kilometers apart.

In addition, the total gas column of 48 meters could indicate a large reservoir vertically. Additional wells, testing, and production will be required for actual delineation of the reservoir. However, even if these prove to be separate reservoirs, we would continue to be enthusiastic about the results from these wells."

Drilling in Fences Continues Apace

In addition to the now completed Kromolice-1 well, the Company continues to drill in the Fences Concession. Two new wells in the area, the Sroda-6 and Kromolice-2, are now underway. Both of these wells target separate, previously undrilled Rotliegend structures, identified on 3-D seismic data.

Sroda-6 Update

The Sroda-6 well, the first well to be drilled on the Sroda City structure, is currently at the bottom of the Zechstein formation at approximately 3,695 meters. It is expected to drill into the Rotliegend in the next week or two, after logging and running another string of casing at this depth. Once in the Rotliegend, the well will be cored, drill stem tested, and logged. The Sroda-6 location is approximately 4 kilometers northeast of the Sroda-4 discovery and approximately 9 kilometers east of the Kromolice-1 discovery.

Kromolice-2 Update

The Kromolice-1 rig has been moved to the Kromolice-2 drillsite and is rigging up. The well is expected to spud this week, with a Rotliegend target at an estimated depth of 3,540 meters. The Kromolice-2 well will be the first to test the Kromolice South structure, located less than 2 kilometers southwest of the Kromolice-1 well.

The Polish Oil and Gas Company owns 51% and operates the Kromolice-1, Kromolice-2 and Sroda-6 wells. FX Energy owns 49%.


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