FX Energy, Inc. (NASDAQ:FXEN) announced results from a drill stem test on their Tuchola-3K well in Poland.
As quoted in the press release:
Gas flowed at a rate of approximately 5 million cubic feet per day with traces of condensate from a dolomite section in the Ca1/Upper Devonian. The Company now will run a 7″ liner to a depth of approximately 2,700 meters and conduct a full production test over the next several days to determine whether to complete the well as a commercial discovery.
FX’s CEO, David Pierce, said:
We have not yet determined if the well is commercial but we are cautiously optimistic and therefore will run a liner to allow more thorough testing. We are also reviewing a range of possible follow-on actions, including other potential drilling locations, to appraise the scope and potential of this Ca1/Upper Devonian zone both nearby and right across our Edge concessions. We will have plans ready for a prompt response if the production test is encouraging.
|Get the top stories on resource investing FREE! Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.|