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
Pierce, David N.
3006 Highland Drive, Suite 206
Salt Lake City, Utah 84106
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
March 1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director [X]
10% Owner
Officer [X] (give title below)
President
Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person [X]
Form filed by More than One Reporting Person
<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>
Common Stock, par value 3/8/99 P 3,500 A $4.3125 198,493(1) D
$0.001
42,000 I By spouse(2)
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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 $8.875 11/5/96 11/5/01 Common Stock 50,000 50,000 D
common stock Note (4)
Option to purchase $3.00 Note (3) 6/9/04 Common Stock 500,000 500,000 D
common stock
Option to purchase $3.00 11/6/95 10/6/00 Common Stock 100,000 100,000 D
common stock
Option to purchase $6.625 12/1/98 11/30/04 Common Stock 55,000 55,000 D
common stock Note (5)
Option to purchase $8.625 11/10/99 11/10/05Common Stock 60,000 60,000 D
common stock Note (5)
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<FN>
Explanation of Responses:
(1) Includes 44,000 shares held of record for the benefit of minor children. The reporting person disclaims beneficial
ownership of 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.
(2) Includes 24,000 shares held of record for the benefit of the reporting person's children.
(3) This option becomes exercisable in annual increments of 20%, commencing June 1, 1995
(4) This option vested 50% on grant and 50% on November 5, 1997.
(5) Each of these options vests 1/3 on each anniversary date of grant until fully vested.
</FN>
</TABLE>
/s/ David N. Pierce
March 11, 1999
