FX Energy (NASDAQ:FXEN) is piping in some encouraging news from Europe. The company reported that a production test at its Tuchola-3K well in Poland saw gas flow at rates between 3.8 million and 5.5 million cubic feet per day, with no water. The company said it aims to collect the final data from the test and then complete the well for production.
In the press release announcing the news, FX Energy quoted CEO David Pierce as saying that "we intend to follow up the successful test with 3-D seismic acquisition covering approximately 100 square kilometers and drill one or two more wells this year in the Edge concession area in north-central Poland," where Tuchola-3K is located.
FX Energy is the operator of the well. It also owns 100% of its working interest.
Fool contributor Eric Volkman has no position in FX Energy. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.