FX Energy to Start New Seismic Program on its Fences Concession
FX Energy and Polish Oil and Gas Company have entered into a new 3-D seismic acquisition program in the FX's Fences concession. The new 3-D grid will cover 155 square kilometers and expand coverage east from the Sroda area where 3-D fieldwork was completed earlier this year. The new seismic will include the Company's recent Winna Gora new field discovery as well as a number of additional Rotliegend sandstone structural targets previously identified on 2-D seismic. Fieldwork is expected to begin later this year.
"This new seismic will allow us to drill a horizontal leg from our Winna Gora discovery well, double the amount of 3-D coverage in our focus area and provide additional 3-D drilling targets in the second half of 2008," said David Pierce, President of FX Energy. "This is a key step in expanding our focus area and potentially accelerating our appraisal and development work in this area. The funding we just completed provided the critical resources for us to carry out this expansion," concluded Mr. Pierce.
FX Energy also reported that it has received four new concession blocks in east central Poland adjacent to the Company's Lublin concession where the Wilga-2 well is producing both oil and gas. The Company applied for the blocks in late 2006. The FX technical team, led by Jerzy Maciolek, Vice President of International Exploration, selected the four new blocks, which cover over 900,000 acres. "We believe the hydrocarbon potential of Poland remains under appreciated so we will continue to apply new exploration ideas and consider new areas to apply them," said Mr. Maciolek.
- 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)
Company: Polish Oil & Gas Company more info
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