The company said that surface casing has been set to a depth of 302 meters. The well began drilling on February 1, 2008. The Grundy well is designed to test a possible reef build-up identified on 2D seismic in an area approximately 20 miles east of the company’s Sroda area.
FX Energy considers the Grundy well to be high risk-high reward, especially compared to the company’s usual Rotliegend sandstone targets. The company owns a 49% non-operated interest in the Grundy well.
The company indicated that initial drilling operations should be completed in the next several months. At that time, electric log and core analyses will be conducted to help determine preliminary results.
David Pierce, president and CEO, said: Grundy is a classic high-risk exploration well designed to test a possible high-potential reef play in our Fences concession. The Polish Oil and Gas Company’s largest field discoveries in the last two decades have been reef plays that produce both oil and gas.
