Wednesday, April 22, 2015

Best Energy Companies To Buy For 2015

Best Energy Companies To Buy For 2015: FX Energy Inc (FXEN)

FX Energy, Inc. is an independent oil and gas exploration and production company with production, appraisal, and exploration activities in Poland. The Company operates within two segments of the oil and gas industry: the exploration and production (E&P) segment in Poland and the United States, and the oilfield services segment in the United States. The Company also has oil production, oilfield service activities, and a shale acreage position in the United States. During the year ended December 31, 2011, its oil and gas production was 4.4 billion cubic feet of natural gas (12.0 million cubic feet equivalent per day). The Company concentrates its exploration operations in Poland primarily on the Rotliegend sandstones of the Permian Basin. The Company has identified a core area consisting of approximately 852,000 gross acres surrounding PGNiGs producing Radlin field.

Activities and Presence in Poland

The Company conducts its activities in Poland in project areas, including Fences, Blocks 287, 246, and 229 near the Fences concession, Warsaw South, Kutno, Northwest, and Edge. In the Fences during 2011, it completed the Lisewo-1 well as a commercial well and drilled the Plawce-2 well in a tight sand area. In its other concessions it drilled the Machnatka-2 well, a noncommercial Zechstein/Carboniferous test, in the Warsaw South concession, and started drilling the Kutno-2 well, a deep Rotliegend test, in the Kutno concession. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Polands Permian Basin. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Polands Permian Basin. The Company has drilled 11 conventional wells targeting Rotliegend structures through the date of this filing. Eight of these wells are commercial. The Company is produce from four of these eight wells.

The Block 287 concession area is 12,000! ac res (50 square kilometers) located approximately 25 miles south of the Fences concession area. The Company owns 100% of the exploration rights. As of December 31, 2011, it has reentered only the Grabowka-12 well. During 2011, it produced at an average daily rate of approximately 0.2 million cubic feet of natural gas per day. The Company has a 100% interest in a concession south of its Fences project area covering approximately 241,000 acres (975 square kilometers). The Company hold a 51% interest in a total of 874,000 acres (3,538 square kilometers.) in east-central Poland. During 2011, it entered into a farmout agreement with PGNiG under which it earned a 49% interest in the entire Warsaw South concession in return for paying certain seismic and drilling costs. It subsequently drilled the Machnatka-2 well to test Zechstein and Carboniferous potential in the western part of the concession area.

The Company holds a 100% interest in 706,000 acres (2,856 square ki lometers). The area encompasses a Rotliegend structure (Kutno) with projected four-way dip closure. It started drilling the Kutno-2 well during 2011. It hold concessions on 828,000 acres (3,351 square kilometers) in west-central Poland, in Polands Permian Basin directly north of PGNiGs BMB and MLG oil and gas fields. The Company has a 100% interest in four concessions in north-central Poland covering approximately 881,000 acres (3,567 square kilometers). As of December 31, 2011, it held oil and gas exploration rights in Poland in separately designated project areas encompassing approximately 4.6 million gross acres. The Company is the operator in all areas, except its 852,000 gross-acre core Fences project area, in which it hold a 49% interest in approximately 807,000 acres and a 24.5% interest in the remaining 45,000 acres.

U.S. Activities and Presence

The operations consist of shallow, oil-producing wells in the Southwest Cut Bank Sand Unit (SWCBSU), of Montana. Its oil wells produce approximatel! y 155 bar! rels of oil per day, net to its interest. From its field office in Montana, the Company also provides oilfield services. The Company produces oil from approximately 10,732 gross (10,418 net) acres in Montana and 400 gross (128 net) acres in Nevada. In 2011, the Company entered into a joint venture with two other companies, American Eagle Energy, Inc., and Big Sky Operating LLC, in which it pooled our approximately 10,000 net acres in our SWCBSU with their approximately 65,000 net acres, the Americana leases, along with a farmout agreement that provides the group with an ability to earn an interest in an additional 7,000 acres covered by the Somont leases. During 2011, it drilled three vertical wells on joint venture acreage to obtain log and core data. The Company also drilled a 3,600-foot lateral from one of these three wells, the Anderson 14-29, and carried out a multistage fracture. The Company is testing o il potential in the Anderson 14-29 well. The Company has a one-third working interest in all formations below the Cut Bank in its SWCBSU.

Advisors' Opinion:
  • [By Roberto Pedone]

    FX Energy (FXEN) is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock closed up 5.7% to $3.69 in Thursday's trading session.

    Thursday's Range: $3.34-$3.71

    52-Week Range: $2.48-$8.78

    Thursday's Volume: 524,000

    Three-Month Average Volume: 672,515

    From a technical perspective, FXEN bounced notably higher here right above some near-term support at $3.31 and back above its 50-day moving average of $3.66 with decent upside volume. This move is quickly pushing shares of FXEN within range of triggering a near-term breakout trade. That trade will hit if FXEN manages to take out some near-term overhead resistance levels at its 200-day moving average of $3.89 to more resistance at $3.98.

    Traders s! hould now! look for long-biased trades in FXEN as long as it's trending above support at $3.31 and then once it sustains a move or close above those breakout levels with volume that hits near or above 672,515 shares. If that breakout triggers soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76. Any high-volume move above those levels will then put its recent high at $5 into range for shares of FXEN.

  • [By James E. Brumley]

    I hate to be the one to say I told you so, but, I told you so. Within the past week I suggested both FX Energy, Inc. (NASDAQ:FXEN) and MeetMe Inc. (NYSEMKT:MEET) were on the verge of breakouts, and sure enough, both are making good on that promise today; FXEN is up 5%, and MEET shares are higher by nearly 13%. Granted, the market's bullish tide is helping... a little. But, with both of these stocks outpacing the market's gain today, odds are that we would have seen these breakout moves anyway.

  • source from Top Penny Stocks For 2015:

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