UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
({19}) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Thomas B. Lovejoy
48 Burying Hill Road
Greenwich, CT 06831
2. Issuer Name and Ticker or Trading Symbol
FX Energy, Inc.
FXEN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
05/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director [X]
7. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person [X]
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
{11} | | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
{12} | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Common Stock, par 154,367 D
value $0.001
Common Stock, par 32,000 I By trusts
value $0.001 (1)(8)
Common Stock, par 5/12/99 P 55,000 A $4.00 104,500 I Held in IRA
value $0.001
Common Stock, par
value $0.001 5/12/99 P 7,500 A $4.00 17,500 I (2)
Common Stock, par 200,000 I By Corp.
value $0.001
Common Stock, par 9,000 I By trust
value $0.001 (3)(8)
Common Stock, par 10,000 I Spouse's IRA
value $0.001
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option to purchase $3.00 (4) (4) 350,000 D
common stock
Option to purchase $8.875 11/5/96-11/5/03 5,000 D
common stock (5)
Option to purchase $8.875 11/5/96-11/5/03 50,000 I (6)
common stock (5)
Option to purchase $6.625 12/1/98-11/30/04 45,000 D
common stock (7)
Option to purchase $8.625 11/10/99-11/10/05 50,000
common stock (7)
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</TABLE>
[FN]
Explanation of Responses:
(1) These shares are held in trusts for the benefit of the reporting
person's children. The reporting person is trustee.
(2) These shares are held by Lovejoy Associates, Inc., Profit Sharing Plan.
(3) These shares are held in trust for the benefit of the reporting person's
children. The reporting person receives income from the trust, but is
not trustee.
(4) This option is currently exercisable and expires respecting 150,000
shares on August 3, 2000; 100,000 shares on December 31, 2001; and
100,000 shares on December 31, 2002.
(5) These options vested 50% on grant and 50% on November 5, 1997.
(6) These options are held in trusts for the benefit of the reporting
person's children, for which the reporting person is trustee, and by the
reporting person's spouse.
(7) These options vest 1/3 on each anniversary until fully vested.
(8) The reporting person disclaims beneficial ownership for these securities
and this report shall not be deemed an admission that the reporting
person is the beneficial owner of such securities for purposes of
Section 16 or for any other purpose.
</FN>
/s/ Thomas B. Lovejoy 5/25/99
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Signature of Reporting Person Date
