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FX Energy, Inc. Message Board

  • wcherz wcherz May 9, 2005 11:05 AM Flag

    Response from Scott Duncan

    I just got this upon arriving back at work this morning. Apparently Scott is not willing to further sell shares at the current price...

    It was last Sunday afternoon when I finally caught up with the week's emails so I'm trying to get better at keeping up. I have read your most recent email also. Personally I cancelled my trading plan but my last sale was part of an earlier plan and cancelling it ahead of the news I had in hand at that time is the same as trading on insider info. My point is I don't plan on selling more shares at this level. I suspect others members of management are of the same opinion although I can't speak for them. The operational timing issues are something that I prefer not to get into detail about because we are an event driven stock projecting timing on events is like projecting earnings to some companies. This is of particular concern because of the options trading deadlines.
    The Sroda issue concerning production is one that we have addressed so I can speak to that. We plan to drill an appraisal well -Sroda 5 and shoot a 3-D to define where the development program should focus. I don't think we will produce from Sroda wells until we have a better idea of the overall size which we think may be as much as possibly a tcf in Sroda and Sroda NE. That size of a find would warrant a significant development program and therefore take some time to get to market.
    First production in the company will be from Zaniemysl and Wilga, Sroda will follow but I don't know when.
    I do appreciate you taking the time to send your comments and I will pass along all of them to other members of management and we have a board meeting coming up where insider sales will be a topic of discussion.
    Once again, sorry for the slow response, I have been buried with a number of other matters including trying to get a proxy and annual report done and printed.

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