FX Energy, Inc. provided an update on the status of its operations in Poland.

Edge concession

Tuchola seismic. The Company has started field acquisition on a 110 square kilometer 3D program in the Tuchola area of the Edge concession. The new 3D seismic is intended to delineate the extent of the structure and help quantify reserves in the accumulation discovered by the Tuchola-3K, well announced May 21, 2013. The Company also will use the new seismic to select locations for one or two appraisal wells to a depth of approximately 3,200 meters planned for the fourth quarter.

The existing seismic, log, sidewall core, and production test data suggest a commercial discovery of some significance, but the data are not definitive. For example, the well test data indicate that the reservoir extends beyond the limits of the original seismic survey, but the existing seismic data do not show the extent of the closure or the thickness of the reservoir. Also, none of the existing data provide much information about reservoir quality beyond the wellbore. Therefore, data from the planned 3D seismic and appraisal drilling is essential in order to confirm that Tuchola-3K is a commercial discovery and prepare a reasonable estimate of its size.

Tags: FX Energy