SALT LAKE CITY, Sept. 18, 2015 /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, 2015, to
holders of record at the close of business on September 30, 2015.
The quarterly dividend payment on the Series B Preferred Stock
will be $0.578125 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 1,
2015, through September 30,
2015. 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
United States 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 press release 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. Actual production over time may be more or less than estimates
of reserves, including proved and P50 or other reserve
measures.
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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fx-energy-declares-quarterly-dividend-on-its-series-b-cumulative-convertible-preferred-stock-300145691.html
SOURCE FX Energy, Inc.