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FX Energy +24% on 24M cf/day estimate for Tuchola production rate

FX Energy (FXEN +24.1%) surges after reporting an estimated production rate of 24M cf/day for its Tuchola field, which the company says is significantly better than it had expected.

The estimated rate is based on the production test for the Tuchola-4K well the company had reported earlier; the calculated absolute flow rate for the Tuchola-4K well was 117m cf/day, compared to a flow rate of 98M cf/day for the Tuchola-3K well.

The Tuchola wells are located in FXEN's 730K-acre Edge License in north central Poland, where the company operates and holds 100% working interest.

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