SALT LAKE CITY, Sept. 7 /PRNewswire-FirstCall/ -- FX Energy, Inc. (Nasdaq: FXEN - News) reported today that drilling is underway on the Sroda-4 well in the Fences II project area in western Poland. The well plans to test a Rotliegendes sandstone at a depth of approximately 3,500 meters. The Sroda-4 well is the first well to be drilled by FX Energy in the Fences II project area. The Polish Oil and Gas Company ("POGC") owns a 51% interest and will operate the well and FX Energy owns the remaining 49% interest. Operations on the Rusocin-1 well are expected to begin later this month with a projected spud date in early October. The Rusocin-1 well will test a pinch-out target in the Rotliegendes sandstone at a depth of approximately 2,500 meters. POGC is the operator and owns 51% and FX Energy owns 49%. The Rusocin-1 well is located approximately 8 kilometers south of the Zaniemysl-3 well, a successful Rotliegendes discovery announced earlier this year.
FX Energy will pay 100% of the drilling costs on the Sroda and Rusocin wells, all of