FX Spuds Frankowo-1 Well, Poland

NASDAQ-listed FX Energy has announced that it has spudded the Frankowo-1 well on its Block 246 concession in Western Poland.

The Poland- and US-focused company, which has interests in the Permian Basin in Poland, says it will use the well to test the potential of the Block 246 concession.

The Frankowo-1 will be drilled to a projected depth of 2,100 metres in a bid to test a Rotliegend target. In a statement, FX Energy said that it estimates the target has up to approximately 50 billion cubic feet of unrisked recoverable gas, should development go ahead.

The company also said that, should testing be successful on the Frankowo-1 well, it could indicate a gas charged Rotliegend potential over a larger area in the concession.

Block 246 is a 240,000 acre block located southwest to another of FX's concession, the Fences concession. FX Energy is the 100 per cent owner and operator of the Block 246 concession.