Based on the company’s evaluation of the original production test data from the Zakowo-1, 2, and 6 wells, the three wells are projected to generate approximately $10m of annual net revenue given today’s commodity pricing.
FX Energy’s Zakowo project consists of re-entering each of the three wells, confirming the original production test data, and constructing the necessary production facility and pipeline.
The company anticipates first production in 2012 assuming the success of the project. FX Energy owns 100% of the Zakowo project and is the operator.
Andy Pierce, vice president of operations at FX Energy, said: “The biggest risk we faced in this well was mechanical. This is a 40-year old well and the unknowns were daunting. However, we found the casing in better shape than we hoped and we successfully cleaned the wellbore to total depth.”
