On Dec. 4, FX Energy Inc. (NASDAQ: FXEN) detailed updates on the Angowice-1 well in Poland.
The well, in northwestern Poland’s Edge license, was drilled to about 3,880 meters. It will be plugged and abandoned after not finding significant porosity in any of its potential reservoir zones. It did find some organic rich shales and hydrocarbon shows, indicating an active hydrocarbon source system, FX Energy added.
The well provides critical downhole data in an area where there was no previous deep drilling, the company said, noting that it will proceed with exploratory drilling in the Edge license while it continues to integrate Angowice’s data.
FX Energy is the operator and owns 100% of the working interest.
"The Angowice-1 well gives us a very important data set to calibrate our seismic data and help us develop a much better picture of the geological setting in the Edge license area," said David Pierce, CEO.
"We need to understand the geological setting in detail in order to know more precisely where carbonates were deposited. Of course we would have liked to see good reservoir development and a commercial well, but the data from this well is very important to the overall exploration effort. The Tuchola gas field discovery told us conditions exist for significant hydrocarbon accumulations in this area,” he added.
“The Angowice data will help us improve our seismic and geological interpretations and narrow our search for the carbonate depositional areas. We are moving ahead with our exploratory drilling plans in the Edge license," he continued.
The company has acquired 240 square kilometers of 3-D seismic in the acreage surrounding the Tuchola-3 and Tuchola-4 discoveries. Pending the outcome of Angowice-1, no drilling decision had been made, the company noted.
FX Energy has three potential new sites in Edge that are under review for 2015 drilling—offset to the Tuchola wells, and two other locations that would test undrilled prospects. All three potential sites were identified on the same 3-D seismic, the company added.
Also, there is a 3-D seismic program underway on 300 square kilometers in three other Edge blocks, and data is expected, and able to be evaluated, in March 2015, the company said.
FX Energy Corp. is based in Salt Lake City.
Both contracts are expected to commence in the first quarter of 2022.
The discovery marks another important step toward commercial oil development in the southeast portion of Block 58.
The discovery adds to the previous recoverable resource estimate of approximately 9 billion oil equivalent barrels.