SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT UNDER TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): September 2, 1997
Commission File Number: 0-25386
FX ENERGY, INC.
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(Exact Name of Registrant as Specified in its Charter)
NEVADA 87-0504461
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
3006 HIGHLAND DRIVE
SUITE 206
SALT LAKE CITY, UTAH 84106
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(Address of Principal Executive (Zip Code)
Offices)
Registrant's Telephone Number, including Area Code:
(801) 486-5555
N/A
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(Former name, former address, and formal fiscal year, if changed since
last report)
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ITEM 5. OTHER EVENTS
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FX Energy, Inc. ("FX Energy" or the "Company") announced on September 2, 1997,
that on September 1, 1997, the Gladysze #1-A well on the Company's 2.4 million
acre Baltic Concession reached a total depth of 2,570 meters. A 9-meter core of
the Cambrian sandstone, the target reservoir, showed oil saturation and natural
gas bubbles through the entire length. The sandstone has moderate porosity but
low permeability due to the presence of clay material in the rocks.
Following a test of the well, it was determined that the well is not capable of
commercial production because of its low permeability. The Company is now
logging and plugging the well. FX Energy intends to perform additional
laboratory study and analysis of the cores, logs, and seismic to identify target
areas in the Baltic Concession where the oil and gas found in the Gladysze #1-A
might be in combination with the porosity and permeability found in the Orneta
#1, which FX Energy drilled earlier this year east of the Gladysze #1-A. The
Company plans to seek an industry partner to join in the exploration program.
The structure on which the Gladysze #1-A was drilled was previously tested by
two wells drilled in the early 1970s by the Polish Oil and Gas Company. Log
interpretations from those wells indicated movable hydrocarbons in the Cambrian
reservoir. The oil and gas in the core of the Gladysze #1-A substantiates the
interpretation that oil is present in the system. However, the lack of
permeability in this structure caused by the presence of the clays was not
detected by the old BKZ logs.
FX Energy currently has a partnership agreement with Apache Corporation on its
5.5 million acre Lublin Concession in southeastern Poland and is conducting an
exploration study in the Carpathian Region of southern Poland in partnership
with the Polish Oil and Gas Company. FX Energy also has an exploration
agreement with Homestake Mining Company on its Sudety Concession in southwestern
Poland.
FX Energy produces oil from fields in Montana and Nevada and is actively
pursuing other oil and gas opportunities both internationally and domestically.
For a discussion of the contingencies and uncertainties to which information
respecting future events is subject, see FX Energy's 1996 annual report on Form
10-KSB and other SEC reports.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: September 5, 1997 FX ENERGY, INC.
By/s/ Scott J. Duncan, Vice President
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