SALT LAKE CITY, Sept. 19, 2014 /PRNewswire/ -- FX Energy,
Inc. (NASDAQ: FXEN) (NASDAQ: FXENP), today announced that its Board
of Directors has declared a quarterly cash dividend payment on the
Company's 9.25% Series B Cumulative Convertible Preferred Stock
(the "Series B Preferred Stock").
The quarterly dividend on the Series B Preferred Stock is
payable on October 31, 2014, to
holders of record at the close of business on September 30, 2014.
The quarterly dividend payment on the Series B Preferred Stock
will be $0.481771 per share, which is
equivalent to an annualized 9.25% per share, based on the
$25.00 per share stated liquidation
preference, accruing from July 17,
2014, through September 30,
2014. The Series B Preferred Stock is listed on the
NASDAQ Capital Market and trades under the ticker symbol
"FXENP."
About FX Energy
FX Energy is an independent oil and gas exploration and production
company with production in the U.S. and Poland. The Company's
main exploration and production 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
Select 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 respecting exploration
targets are certainly not guarantees of discovery, the actual
presence or recoverability of hydrocarbons, or 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.
SOURCE FX Energy, Inc.