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FX Energy says disappointed in Plawce-2 well test

FX Energy reported that testing of three fracked Rotliegend intervals in the Plawce-2 well has been completed. The two lower zones in the well produced only formation water. The top interval, where log interpretation indicated more than 60 meters of gas saturated sandstone at the top of the Rotliegend, flowed only non-commercial levels of gas along with formation water. The Polish Oil and Gas Company, PGNiG SA, is the operator and owns 51% of the working interest in the Fences concession and FX Energy owns 49% of the working interest. The company said, "We are analyzing the test results and other data to see if any further activities might be warranted in the tight gas areas of the Fences concession, but these test results are disappointing to FX Energy and to our partner, PGNiG SA."