March 05, 2008 14:05 ET
FX Energy Receives $7.2 Million From Warrant Exercises
SALT LAKE CITY, UT--(Marketwire - March 5, 2008) - FX Energy, Inc. (NASDAQ: FXEN) today
reported that it received $7.2 million from the exercise of expiring
warrants. The warrants were issued in a 2003 offering of common stock and
warrants. Exercise price of the warrants was $3.60 per share. A further
1.2 million warrants remain outstanding and will expire in July and
November 2008. The exercise price of the remaining warrants is $3.75 per
share.
About FX Energy
FX Energy is an independent oil and gas exploration and production company
with production in the US and Poland. The Company's main exploration
activity is focused on Poland's Permian Basin where the gas-bearing
Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore
England. The Company trades on the NASDAQ Global Market under the symbol
FXEN. Website www.fxenergy.com
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements. Forward-looking statements
are not guarantees. For example, exploration, drilling, development,
construction or other projects or operations may be subject to the
successful completion of technical work; environmental, governmental or
partner approvals; equipment availability, or other things that are or may
be beyond the control of the Company. Operations that are anticipated,
planned or scheduled may be changed, delayed, take longer than expected,
fail to accomplish intended results, or not take place at all.
In carrying out exploration it is necessary to identify and evaluate risks
and potential rewards. This identification and evaluation is informed by
science but remains inherently uncertain. Subsurface features that appear
to be possible traps may not exist at all, may be smaller than interpreted,
may not contain hydrocarbons, may not contain the quantity or quality
estimated, or may have reservoir conditions that do not allow adequate
recovery to render a discovery commercial or profitable. Forward-looking
statements about the size, potential or likelihood of discovery with
respect to exploration targets are certainly not guarantees of discovery or
of the actual presence or recoverability of hydrocarbons, or of the ability
to produce in commercial or profitable quantities. Estimates of potential
typically do not take into account all the risks of drilling and completion
nor do they take into account the fact that hydrocarbon volumes are never
100% recoverable. Such estimates are part of the complex process of trying
to measure and evaluate risk and reward in an uncertain industry.
Forward-looking statements are subject to risks and uncertainties outside
FX Energy's control. Actual events or results may differ materially from
the forward-looking statements. For a discussion of additional
contingencies and uncertainties to which information respecting future
events is subject, see FX Energy's SEC reports or visit FX Energy's website
at www.fxenergy.com