FX Energy to Be Acquired by ORLEN Upstream for $1.15/Share in Cash

FX Energy, Inc. FXEN today announced that it has entered into a definitive merger agreement pursuant to which ORLEN Upstream Sp. z o.o. will acquire all of the outstanding shares of common stock of FX Energy.  ORLEN Upstream is the wholly-owned exploration and production subsidiary of PKN ORLEN SA PKN. In the transaction, holders of FX Energy common stock will receive consideration of $1.15 per share in cash, which represents a 22% premium over the average closing price for the Company's common stock for the 60 trading-day period ended on October 12, 2015.  The transaction values FX Energy at approximately $119 million, including the Company's net debt at June 30, 2015. The agreement with ORLEN Upstream is the result of FX Energy's previously announced process to explore a possible sale of the Company or other transaction and has been approved unanimously by the Company's Board of Directors. David N. Pierce, FX Energy's President and Chief Executive Officer, commented, "Following a thorough process See full press release