FX Energy Says 4Q05 Revenue Up 30%
FX Energy announced financial results for its fourth quarter and the full year of 2005. Total revenue for the quarter was $1.6 million, up 30% from revenues of $1.2 million for the fourth quarter of 2004. The fourth quarter of 2005 had a net loss of $6.6 million, or $0.19 per share. This compares to a net loss of $2.4 million, or $0.07 per share, for the fourth quarter of 2004. As of December 31, 2005, the Company had combined cash and investments totaling $28.9 million.
Total revenue for the full year of 2005 was $5.9 million, up 56% from revenues of $3.8 million for the full year of 2004. Fiscal 2005 had a net loss of $11.4 million, or $0.33 per share. This compares to a net loss of $12.6 million, or $0.41 per share for fiscal 2004.
About FX Energy
FX Energy, Inc. holds a land position of over 1.7 million acres in a known
hydrocarbon region in western Poland's Permian Basin. The Permian Basin's
gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin
offshore England, and represents a largely untapped source of potentially
significant gas reserves. FX Energy is exploiting this untapped potential in
the belief that it can create substantial growth in oil and gas reserves and
cash flow for its stockholders. The Company trades on the Nasdaq National
Market under the symbol FXEN.
- 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)