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FX Energy, Inc. Message Board

  • houstonenp houstonenp Aug 22, 2004 10:38 AM Flag

    sorry to bother you.

    I may have posted more this last two weeks than the entire last year or so. I hope no one minds my more frequent postings. In checking my email remotely with the office, I found the recent Strategis Canada Report had been sent to me. Strategis is a dept. of the Canadian Government set up to provide highly detailed business and industry information to subscribers for use in business development. A recently released report on Exploration Prospects Worldwide had some interesting data regarding Poland and its prospects for oil and gas exploration. The report is rather lengthy and because it�s a subscription-based service, I�ll just post a tiny bit of the report. The full reports are in depth in nature and provide detailed analysis of potential business opportunities and in this case, the report discusses the exploration potential of Poland.
    ****<Best Prospects

    Poland is believed to hold significant undiscovered petroleum and natural gas resources. The majority of exploration has been carried out in relatively small portions of the country, and due to financial constraints, has been restricted to areas close to already existing production. The Polish Geological Institute estimates the undiscovered potential of reserves range between 107 million tons (773 million barrels) to 352 million tons (2,546 million barrels) of oil and 640 - 1,200 BCM (22.5 - 42.3 TCF) of natural gas.>****

    Notice the Gas potential of 22.5-42.3TCF and 2.5 billion barrels of Oil. This is by far the largest numbers I have seen to date regarding Poland�s reserve potential. I have to admit, the hair on the back of my neck tingled a little when I read those numbers.

    In addition, this was interesting, although nothing new.

    ****< FX Energy has been granted numerous concessions in Poland for exploration for oil and gas. Their ongoing activities in Poland are conducted with Polish Oil and Gas Company in five gas project areas: Pomerania (Western Poland), Wilga (Central Poland), and Fences I,II and III (Western Poland's Permian Basin). All projects cover area of over 4 million acres. The company brings other U.S. industry partners into these projects to provide capital for early stage exploration drilling. The Fence I project FX develops jointly with CalEnergy Gas.>****

    If there is anything else to note, after I finish this report, I�ll try to post the relevant details.

    Do you think I could get away with another week of vacation?

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    • Houston,

      With that great find, take several weeks vacation. The potential that FXEN has in Poland, once realized, will allow many longs to take extra long vacations.

      Long and Strong FXEN

    • Houston,

      Nice catch. Now I think the picture becomes clearer why a handful of top flight geologists have joined Hardman's team. How often in ones career would you get a chance to put your name on the SNS II? The ticket office will close in just a few days.

    • FWIW, here are some guestimate/supposition numbers based on houstonenp's
      2.5 b bbl oil figure.Please feel free to correct where needed.
      20% recoverable = 500mm bbl
      FX property10%= 50mm bbl
      FX share 50% = 25mm bbl
      $30/bbl = $750mm
      Just on oil. Triple market cap. Not bad.
      Excuse my terseness, I'm having trouble breathing.

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