FX Energy Announces 5 Wells in Poland’s Permian Basin By Year-End

US-based FX Energy announced it will be drilling five wells in Poland’s Permian Basin by the end of the year.  

‘The company plans to start drilling two wells in August, one well in September and two more wells in the fourth quarter of 2014,’ FX-Energy wrote on Monday. 

It will focus its attention on the Edge and Fences Licences.   

“We expect to see strong growth in reserves this year…. We have a great drilling schedule through year end and we think our track record gives us a reasonable expectation that this year’s drilling should add significantly to reserves. We also expect to book reserves from our two Tuchola wells at year-end,” said Andy Pierce, Vice President of Operations of FX Energy.

According to other officials, the safest bet is the Edge Licence. 

“We think the most significant wells in our drilling schedule are the Edge wells. We think the Tuchola discoveries point to great promise for this area. We are targeting new structures and hope to add more support to our theory that the Edge license, like the Fences license, is an area where we can drill high value wells with a predictable success rate,” Jerzy Maciolek, Vice President of International Exploration, added.