FX Energy Planning to Spud Third Polish Well Later This Year
FX Energy is currently drilling two wells in western Poland with a third planned for later this year. Two successful wells are scheduled to be connected and be producing in the third quarter of 2006. Domestically, the Company plans to drill three wells in Nevada during the fourth quarter.
Details of the current and planned operations are as follows:
* Zaniemysl Project -- A contract for the pipeline and facilities to bring the Zaniemysl-1 well into production is expected to be signed during October 2005 with completion scheduled for third quarter 2006. FX Energy owns a 24.5% interest in the 45,000 acre Zaniemysl project.
* Wilga Project -- A contract has been signed for construction of a pipeline and facilities that will bring the Wilga-1 well into production. Construction is scheduled to be completed in the third quarter 2006. FX Energy owns an 82% interest and is the operator of the well and the 250,000 acre Wilga project area.
* Sroda-5 Well -- The Sroda-5 well which began drilling on September 20, 2005, is currently drilling at a depth of approximately 2,200 meters (7,260 feet). The well is being drilled to test a Rotliegend sandstone target and will be drilled to a total depth of 3,650 meters (12,000 feet). FX Energy owns a 49% interest in the 670,000 acre Fences II project area.
* Lugi-1 Well -- The Lugi-1 well which began drilling on October 7, 2005, is currently drilling at a depth of 600 meters (1,980 feet). The well is being drilled to test a "pinchout" target in a Rotliegend sandstone and will be drilled to a total depth of 2,750 meters (9,000 feet). FX Energy owns a 49% interest in the 770,000 acre Fences I project area.
* Drozdowice-1 Well -- The Drozdowice-1 well, the Company's first well in the Fences III project area, is scheduled to begin drilling in mid-December 2005. The well is being drilled to test Ca-1 and Rotliegend targets and will be drilled to a total depth of 1,700 meters (5,600 feet). FX Energy owns 100% interest and is the operator.
* Nevada -- FX Energy along with its 50% partner has permitted three wells in Railroad Valley Nevada. Current operational plans call for the three wells to be drilled during the fourth quarter 2005. The drilling targets are at depths of 3,000 to 6,000 feet.
- FX Energy is Reading Szymanowice-1 Well for Production (Dec 31)
- FX Energy Tests Poland Tuchola-3K Well (Apr 29)
- FX Energy 'Disappointed' over Polish Mieczewo Well (Apr 08)