FX Energy, Inc. (NASDAQ: FXEN) reported a successful drill stem test (DST) of the Company's Mieczewo-1K well. Located in Company's Fences concession in central Poland, this exploratory well flowed gas with no water in this first DST.
Andy Pierce , Vice President of Operations, remarked, "We are encouraged with this initial DST, but keep in mind we've only drilled a few meters into the pay zone so far. We have more drilling, coring and testing to do before we can say for sure whether this is a producible gas deposit. But so far everything looks just like we expected."
At the time of the DST the Mieczewo-1K well had drilled a total of 9.6 meters of porous Rotliegend sandstone. The well will be drilled and cored another 50-60 meters, then logged and tested to determine the full extent of the pay zone and other reservoir parameters. The Polish Oil and Gas Company is the operator and owns 51%; FX Energy owns 49% of the working interest.
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