FX Energy's Polish Natural Gas Prices Increase Again

SALT LAKE CITY, Oct. 23 /PRNewswire-FirstCall/ -- FX Energy, Inc.
(Nasdaq: FXEN) today reported that the Energy Regulatory Office in Poland has
approved an 11.1% increase in the wholesale prices of natural gas. The new
prices will take effect on November 1, 2008. FX Energy's gas contracts in
Poland are priced as a percentage of published wholesale prices. This move by
the Polish regulator will translate directly to an 11.1% increase in the
prices received by FX Energy in Poland.
Gas Prices Up 28% for 2008; Up 103% in Recent Years
Clay Newton, the Company's Vice President of Finance, commented,
"Historically, US gas prices are highly volatile and weather dependent. They
appear to be softening just now because of economic pressures, reduced demand
and supply increases. In contrast, gas markets in Europe are dominated by
rapidly declining European domestic supply and by increasing dependence on a
single supplier, Russia. In addition, there is upward price pressure in Poland
as the government tries to reduce subsidies for its natural gas end users in
order to conform to European Union regulations. These market conditions have
now resulted in the second significant wholesale price increase this year.
With this second increase, wholesale prices are now up 28% for the year. Over
the past four years wholesale prices have been raised eight times for an
aggregate increase of 103%. We have more confidence in the continuation of
these long-term, upward price pressures in Poland than in the
weather-dependent price patterns in the US."
Mr. Newton continued, "This price increase has two significant benefits
for FX. First, it will help drive higher revenues now and in the future from
our Polish gas production. Second, it will increase the value of our
already-discovered natural gas reserves in Poland."
About FX Energy
FX Energy is an independent oil and gas exploration and production company
with production in the US and Poland. The Company's main exploration 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 Market under the symbol FXEN. Website
http://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 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 http://www.fxenergy.com
SOURCE FX Energy, Inc.

Scott J. Duncan of FX Energy, Inc., +1-801-486-5555, Fax, +1-801-486-5575