PGNiG, FX Energy Announce Kormoze-3K Results

FX Energy, Inc. reports that the coring and logging of the Kormoze-3K well show 36 meters (31.5 meters TVD) of gas-saturated Rotliegend sandstone with porosity of up to 22.4%. In the most highly gas-saturated zone the average porosity is 20%.

PGNiG, the operator and 51% owner of the well, will run a full production test to determine flow rates and reserves. The test is expected to be completed before the end of August. FX Energy owns a 49% interest in the Kormoze-3K well.

"Given the height of the gas column and porosity, this well should be slightly better than the Lisewo-1 discovery," said Andy Pierce, VP of Operations for FX Energy. "Kormoze-3K is the first of five 3-D defined targets that surround the Lisewo-1 discovery that we plan to drill with PGNiG. The success at Kormoze-3K will help us to determine the size of the Lisewo production facility which is scheduled to be completed in 2013."