Salt Lake City-based FX Energy Inc. (Nasdaq: FXEN) reported that the Tuchola-4K well reached its primary objective, the lower Zechstein Ca1 formation at 2,740 meters, approximately 60 meters high to last year's Tuchola-3K well. The Tuchola-4K well was then cored and drilled to 2,810 meters, its current depth, with strong gas shows observed throughout. This 70-meter interval was then logged, showing gas saturation throughout. The gas includes components up to C2 ethane and C3 propane. Logs and cores both show very good porosity.

"The cores have visible intergranular porosity and extensive fracturing," said Andy Pierce, VP of Operations. "The well logs show excellent porosity and gas saturation throughout the entire 70 meter zone. Data from the Tuchola-4K well up to this point exceeds our expectations."

The company now plans to set 7" casing to the top of the Ca1, then run a drill stem test of the full 70 meter open interval. Results of the drill stem test are expected in about one week. Following the DST the well will be drilled to total depth in the Upper Devonian and logged. If this zone encounters good reservoir properties it will also be tested.

The Tuchola-4K is an appraisal well of the Tuchola-3K discovery made in 2013. In the area surrounding these wells the company is evaluating 220 square kilometers of 3D seismic data to identify the next drill site. FX Energy expects to start drilling another well later this year based on this seismic work. The Tuchola wells are located in the company's 730,000 acre Edge License in north central Poland. FX Energy operates and holds a 100% working interest.

FX Energy also reported on the status of the latest discoveries in the Fences License area.

Testing of the Lisewo-2K well is complete and production is expected to begin in the third quarter of 2014. The initial production rate from the well is planned at 3 million cubic feet of gas per day.

The Komorze-3 well is currently producing approximately 350,000 cubic feet of gas per day.

Syzmanowice-1 is undergoing remediation work to enhance production. Additional information will be provided once the work is complete.

All three of these wells located in the Fences License area are 51% owned and operated by the Polish Oil and Gas Company (PGNiG). FX Energy owns the remaining 49%.