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): July 9, 1997
Commission File Number: 0-25386
FX ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)
NEVADA 87-0504461
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
3006 HIGHLAND DRIVE
SUITE 206
SALT LAKE CITY, UTAH 84106
(Address of Principal Executive (Zip Code)
Offices)
Registrant's Telephone Number, including Area Code:
(801) 486-5555
N/A
(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. (the "Company") announced on July 9, 1997, that drilling has
begun on the Murray #12-30 wildcat located in Musselshell County, Montana. The
well, which is located in south central Montana in an area known as Devil's
Basin, is planned to test a large Precambrian structure at a targeted depth of
5,950 feet. The Company will drill and operate the well with its own rig. The
projected drilling time is 30 days. The Company owns a 20% interest in the
prospect with the remaining 80% held by a group of industry participants,
including one major oil company.
FX Energy also announced the results of the Rattler Butte well that the Company
drilled with its rig in Rosebud County, Montana. The well, operated by
Florentine Exploration and Production, was drilled to a depth of 5,703 feet and
completed on June 15, 1997. The well is producing 200 barrels a day from the
Tyler C Channel in the interval between 5,592-5,618 feet. The Company owns a
6.5% working interest in that well.
The Company also reported signing a letter of intent with Homestake Mining
Company ("Homestake") under which Homestake will operate and fund the Company's
Sudety Concession in Poland. During 1997, the Company and Homestake will begin
a reconnaissance geological program in an area covering approximately 300 square
kilometers. The agreement will include any properties acquired in the future by
either company within a defined area of interest. The Company and Homestake
have agreed to jointly apply to the Polish government for additional concession
blocks. Once a final agreement has been reached, Homestake will commit to a
minimum expenditure of $1.1 million over a two-year period. The Company will
not be obligated to pay exploration costs now or in the future and will be
reimbursed by Homestake for past expenditures related to the Sudety Concession.
Homestake Mining Company is an international gold mining company with
substantial gold mining operations and exploration in the United States, Canada,
and Australia. Homestake also has active gold exploration programs in
Venezuela, French Guyana, Chile, Brazil, and elsewhere in Latin America, and
development and/or evaluation projects in Chile, Russia, and Bulgaria.
FX Energy produces oil from fields in Montana and Nevada and explores for
oil and gas in the western United States and Poland.
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: July 10, 1997 FX ENERGY, INC.
By:/s/Scott J. Duncan, Vice President
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