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Bracewell Represents FX Energy in its Acquisition by ORLEN Upstream

October 19, 2015

HOUSTON Bracewell & Giuliani LLP is representing FX Energy, Inc. (NASDAQ: FXEN) in connection with its acquisition by ORLEN Upstream Sp. z o.o. under a recently announced merger agreement. FX Energy is a Salt Lake City-based oil and gas exploration and production company with production in the United States and Poland. ORLEN Upstream is the wholly-owned exploration and production subsidiary of PKN ORLEN SA (GPW: PKN).

Holders of FX Energy common stock will receive consideration of $1.15 per share in cash, which represents a 22 percent premium over the average closing price for FX Energy’s common stock for the 60 trading days preceding the announcement of the merger agreement. The transaction values FX Energy at approximately $119 million, including its net debt as of June 30, 2015.

The transaction is expected to close in the fourth quarter of 2015 or the first quarter of 2016.

Bracewell attorneys working on this transaction include:

Partners: Charles H. Still, Jr., Gary W. Orloff, Daniel E. HemliAbraham A. Reshtick and Timothy A. Wilkins

Senior Counsels: Allison K. Perry and Joshua C. Zive

Associates: Caroline A. Wells, Kathy W. Medford, Charlotte E. Keenan, Taylor P. Evans and Kevin R. Tamm