The company said that the decision to continue operations on other wells in the Zakowo field will be determined by the Zakowo-1 results. All four wells were production tested for both oil and gas.
FX Energy is optimistic about the potential of the Zakowo field and has taken the initial steps in the permitting for production and pipeline facilities to bring the wells on line as soon as possible, provided, the tests are successful, the company said.
The company also added that if it is able to re-enter the wells and duplicate the initial production tests on the four discoveries, it expects net cash flow at about $10m a year as per the current prices.
The Zakowo field is situated in Block 246, a 240,000 acre concession block to the southwest of the Fences concession area in western Poland. It is 100% owned and operated by FX Energy.
