BNET Industries

FX Energy Inc.

FXEN is in the Energy Industry

Market Cap:$162.5M
Last Fiscal Year Sales:$17.8M
  • Public
Dow Jones Description

We are an independent gas and oil exploration and production company with principal production, reserves, and exploration activities in Poland, although we have modest oil production and oilfield service activities in the United States. We believe Poland is a unique international exploration opportunity. Relatively little gas has been discovered in Poland's sector of the North European Permian Basin, compared to the discoveries in the UK, Dutch, and German sectors. For most of the 20th century, Poland was closed to exploration by foreign gas and oil companies. Consequently, we think the Polish Permian Basin is underexplored and underexploited, and therefore has high potential for discovering significant amounts of gas and oil. Acting on this thesis, we have acquired a large land position and we are conducting a focused exploration program. Independent engineers estimated our total proved gas and oil reserves at 45.9 billion cubic feet of natural gas equivalent, or Bcfe, at year-end 2008. The PV-10 Value of these reserves at year-end 2008 was approximately $118 million, which is equal to approximately $2.79 per share of stock outstanding at year-end. The pre-tax present value of our P-50 reserves was $221 million at year-end 2008, or approximately $5.24 per share, based on 79.9 Bcfe. Our proved gas and oil reserve volumes in Poland have increased at a compound annual growth rate of 34% since 2003 and by 46% in just the last year. ...

CEODavid N. Pierce
Number of Employees 47
Contact Information

www.fxenergy.co...

NAICS Code Crude Petroleum and Natural Gas Extraction: 211111

Recent Events

  • FX Energy FXEN Reports Q1 Adj-Loss of $0.09

    5/11/09 - Financial Announcement - View Story

  • FX Energy's Revenues Stable, But Loss Widens on '08 Non-Cash Charges

    3/17/09 - Financial Announcement - View Story

  • FX Energy Inks Northwest Concession Farm-Out with Polish O&G

    3/04/09 - Joint Venture / Alliance - View Story

  • FX Energy's New Disocoveries, Revisions Drive Up Reserves Base

    2/19/09 - Product Announcement - View Story

News & Analysis

fx energy inc. - All News and Analysis

Additional Resources

  • FX Energy to Present at Enercom's London Oil & Gas Conference

    - 2009-06-11

    SALT LAKE CITY, June 11 /PRNewswire-FirstCall/ -- FX Energy, Inc. announced today that the Company will make a presentation at the Enercom London Oil & Gas Conference on June 18, 2009. The presentation is scheduled for 3:10 p.m. British Summer Time; 10:10 a.m. Eastern Daylight Time and...

  • FX Energy Begins Drilling Ostrowiec Well

    - 2009-05-28

    SALT LAKE CITY, May 28 /PRNewswire-FirstCall/ -- FX Energy, Inc. reported today that drilling is underway on the Ostrowiec well in western Poland. The well is planned to test a Ca2 target at a depth of 3,800 meters and a potential Rotliegend target at a depth of 4,100...

  • FX Energy Provides Operations Update

    - 2009-05-12

    FX Energy, Inc. (NASDAQ: FXEN) reportedtoday that the Ostrowiec well in western Poland is scheduled to begindrilling in about two weeks. The well will be drilled by Pila Drilling, awholly owned subsidiary of the Polish Oil and Gas Company POGC. The wellis operated and owned 51% by FX...

  • FX Energy Announces First Quarter Results

    - 2009-05-11

    FX Energy, Inc. (NASDAQ: FXEN) todayannounced financial results for its first quarter ended March 31, 2009. TheCompany reported net earnings of $(24.4) million, or $(0.58) per share forthe first quarter of 2009. Excluding non-cash foreign currency exchangelosses of $(20.4) million, the Company's first quarter loss would have been$(4.0) million, or...

Decision Makers

Name (plus bio) Position
David N. Pierce CEO
Andrew Pierce COO & Vice President
Clay Newton Chief Accounting Officer & Vice President, Finance
Jerzy B. Maciolek Vice President International Exploration
Richard Hardman Vice President Exploration for Amerada Hess
Scott Duncan Vice President
Brian Craig Co-Founder
Dennis B. Goldstein Attorney

Board of Directors

Name (plus bio) Position
Arnold S. Grundvig Chairman
H Allen Turner Chairman
H. Allen Turner Board of Directors
Thomas B. Lovejoy Executive Vice President and Chairman
Organization Position Status
FX Energy, Inc. CEO Current
FX Energy, Inc. President Current
FX Energy, Inc. Board of Directors Current
Stanford Law School Former

Attorney with over 25 years experience in natural resources, securities and international business law. Graduate of Princeton and Stanford Law School.

Organization Position Status
FX Energy, Inc. COO & Vice President Current

Vice-President of Finance, Treasurer, and Chief Accounting Officer since 2003 and a director from 2002-2003. Executive accounting and financial management for energy and technology firms for over 25 years.

Organization Position Status
FX Energy, Inc. Chief Accounting Officer & Vice President, Finance Current
FX Energy, Inc. Principal Finance Officer Current

Vice President International Exploration Over 25 years experience as a geophysicist with POGC, Gulf Oil Research and as a consultant. MS in exploration geophysics from the Mining and Metallurgical Academy in Krakow, Poland.

Organization Position Status
FX Energy, Inc. Vice President International Exploration Current
FX Energy, Inc. Board of Directors Current

Leading figure in North Sea exploration since 1969, VP exploration for Amerada Hess 1983-2002 responsible for North Sea discoveries at Val Hall, Scott & S.Arne.

Organization Position Status
FX Energy, Inc. Vice President Exploration for Amerada Hess Current
FX Energy, Inc. Board of Directors Current

Vice-President Investor Relations and Secretary of the Company, director from 1993 through 2004, when he did not stand for reelection, and financial consultant to the Company from its inception through April 1993.

Organization Position Status
FX Energy, Inc. Vice President Current

Brian served in the role of President and Chief Executive Officer from May 2002 to May 2006. Brian has served on the Solium Board of Directors since 2001. Prior to joining Solium full-time, Brian founded and was the President and Chief Executive Officer of Stormworks Ltd., a privately held e-business services company that was acquired by Solium. Brian is a principal at a Calgary-based venture capital company called Adventure Capital. Through this vehicle Brian invests in many early-stage companies, including energy and technology companies. Brian has acquired Board and Audit Committee experience at several business he has been involved with, including public and private companies. Brian is an engineer, and graduated with a Bachelor of Science degree in Engineering from the University of New Brunswick (Fredericton) in 1981.

Organization Position Status
Solium Capital Inc Executive Director Current
FX Energy, Inc. Co-Founder Current
Curve Dental Chairman Current
FX Energy, Inc. Director Current
Medgate Director Current
Solium Capital Inc Director Current
Pandell Board of Directors Current
Solium Capital Inc CEO Former
University of New Brunswick Bachelor of Science Degree In Engineering Former
Organization Position Status
FX Energy, Inc. Attorney Current
FX Energy, Inc. Board of Directors Current
A-Systems Corporation President Former
A-Systems Corporation Chief Financial Officer Former
Homestake Mining Company Vice President and Corporate Counsel Former
Stanford Graduate School of Business Former
Brown University Former
The Executive Program Former
Organization Position Status
FX Energy, Inc. Chairman Current
FX Energy, Inc. Board of Directors Current
Organization Position Status
FX Energy, Inc. Chairman Current
Cortland Associates, Inc. Director Current

Retired from Devon Energy, Corp. (DVN: NYSE) in 2001 after twenty years as a senior financial executive, including Senior Vice President of Corporate Development.

Organization Position Status
FX Energy, Inc. Board of Directors Current

Executive Vice President and Chairman Over 30 years energy investment banking experience with Dillon Read., Blyth, Eastman Dillon, Paine Webber, and Prudential. Graduate of MIT-BS and Harvard-MBA.

Organization Position Status
FX Energy, Inc. Executive Vice President and Chairman Current
FX Energy, Inc. Board of Directors Former
FX Energy, Inc. * Former

Executive News

  • FX Energy Begins Drilling Ostrowiec Well

    Reuters - 5/28/09 - View Story

  • FX Energy Begins Drilling Ostrowiec Well

    Forbes.com - 5/28/09 - View Story

  • FX Energy Begins Drilling Ostrowiec Well

    PR Newswire - 5/28/09 - View Story

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FXEN $3.83 +0.16 (4.36% )
Volume 115,838
Shares Outstanding 42.4M
Market Cap 162.5M
Year High 8.68
Year Low 1.95
Earnings Per Share -1.80
P/E Ratio N/A
Dividend 0.00
Yield 0.00
Glass Door

Energy Industry Companies

Company Employer Rating
Chevron 3.8
IndustryTop Rated

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