The well did not find significant porosity in any of its potential reservoir zones. However, the Angowice well did encounter some organic rich shales and hydrocarbon shows, indicating an active hydrocarbon source system. More important, the well provides critical downhole data in an area where there was no previous deep drilling. The Company will move forward with its exploratory drilling program in the Edge license while it continues to integrate data from the Angowice well. The Angowice-1 well is located in the Edge license in northwestern Poland where 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, Chief Executive Officer. "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. 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."
The Company has acquired 240 square kilometers of 3-D seismic in the acreage surrounding the Tuchola-3 and Tuchola-4 discoveries. This area has been under evaluation but no drilling decision was made pending the outcome of the Angowice-1 well. The Company noted that it has three potential new sites in the Edge license under review for drilling in 2015. The first location is an offset to the Tuchola discovery wells. An offset well would test the same reservoir that is productive in the Tuchola-3 and Tuchola-4 wells, but in the eastern portion of the structure that may be fault sealed from the existing wells in the western part of the structure. The two other locations would test previously undrilled prospects identified on the same 3-D seismic.
In addition, the Company has a 3-D seismic program underway on 300 square kilometers in three other blocks in the Edge license. FX Energy expects to have data from those areas available for evaluation beginning in March 2015.
