FX Energy Inc. (Nasdaq: FXEN) has announced that drilling is underway at the Karmin-1 well in the Salt Lake City-based company's Fences license in western Poland. The well is a planned test of a Rotliegend sandstone target at an estimated depth of 2,460 meters. The prospect is located on trend with the Zaniemysl-3 and Roszkow wells, two of the company's highest-producing discoveries.
The Karmin-1 well is the first of three wells in the Fences area that are planned to begin drilling operations prior to the end of 2014. All of these wells are 51% owned and operated by PGNiG.
In addition to the Fences wells, FX Energy also plans to begin drilling two wells in the company's 100% owned Edge license in western Poland. The Edge license covers approximately 730,000 acres.
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