SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Under Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 28, 2000
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 Offices) (Zip Code)
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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On June 28, 2000 FX Energy, Inc. announced today that the Kleka 11 was tested
with a calculated open flow rate of 34.3 million cubic feet of gas per day from
a Rotliegendes sandstone reservoir. Measured core porosity in the reservoir is
22% with good permeability. The gas content is comparable to other wells in the
area that produce from the same Rotliegendes reservoir as the Kleka 11 and
contains no H2S. The Kleka 11 is the first well in an exploration program with
the Polish Oil and Gas Company (POGC) in FX Energy's "Fences" project area that
encompasses approximately 300,000 acres in western Poland. FX Energy has a 49%
interest in the Fences project area which POGC operates and has a 51% interest.
FX Energy also announced exploration and development plans for the remainder of
2000 including:
o Drill an exploration well on the 3-D defined Mieszkow structure located
approximately 4 miles northwest and on trend with Kleka 11;
o Drill an exploration well on the 3-D defined Boguszyn structure in the
same Rotliegendes trend as the Kleka and Mieszkow structures;
o Drill at least two exploration wells under the Apache exploration
agreement; o Drill the Wilga 5 well and/or one of several other nearby
structures in Block 255.
o Acquire 3-D seismic over the Zaniemysl area northwest of the Kleka 11
containing several 2-D leads similar to Kleka; and
o Acquire 3-D seismic over the Donatowo area containing several 2-D
seismic leads along the southern portion of the Fences area on trend
with POGC discoveries in Permian age reefs.
In order to meet the funding requirements for exploration and development in the
Fences and Wilga project areas through 2000, FX Energy recently completed a
private placement of common stock primarily to institutional investors, in which
CIBC World Markets and Hibernia Southcoast Capital acted as placement agents.
The private placement yielded net proceeds to the Company of approximately $9.3
million from the sale of 2.9 million shares.
FX Energy and its partners are exploring and evaluating approximately 16.1
million acres in Poland. Its shares are traded on Nasdaq National Market.
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This report contains forward-looking statements. Forward-looking statements are
not guarantees of future drilling or other exploration or development results,
the actual presence or recoverability of estimated reserves, the ability to
establish reserves equal to the potential of exploration targets, production
amounts or revenues, construction costs or schedules or similar matters.
Forward-looking statements are subject to risks and uncertainties outside FX
Energy's control. Actual events or results may differ materially from the
forward-looking statements. For a discussion of additional contingencies and
uncertainties to which information respecting future events is subject, see FX
Energy's 1999 annual report on Form 10-K and other SEC reports.
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SIGNATURES
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 6, 2000 FX ENERGY, INC.
By /s/ Scott J. Duncan
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Scott J. Duncan, Vice-President
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