JOINT STUDY AGREEMENT
This Lublin Area Joint Study Agreement is made in two original copies, effective as of December 70, 1996.
The Polish Oil and Gas Company ("POGC") having its offices at ul. Krucza 6/14, Warsaw, Poland 00-537,
represented by Dr. Witold Weil, Director
FX Energy. Inc., ("FX Energy") having its offices at 3006 Highland Drive, Suite 206,. Salt Lake City, Utah,
84106, USA, represented by Mr. David N. Pierce, Chief Executive Officer
hereinafter referred to individually as a "Party" or collectively as the "Parties".
A. The Minister of Environmental Protection, Natural Resources and Forestry has awarded exclusive oil and gas
exploration and exploitation rights to FX Energy through its subsidiary, Lubex Petroleum Company Sp. z o.o.
("Lubex"), covering eight concession blocks totaling approximately 2 million acres (the "Lublex Concession")
located near the city of Lublin.
B. POGC has certain oil and gas rights to concession blocks (the "POGC Lublin Blocks") which are located
adjacent to the Lublex Concession on the north and east. The Parties hereby agree to the following:
1. POGC will deliver to FX Energy copies (both paper and tape where available) of its geological and
geophysical data from the concession blocks immediately adjacent to the Lubex Concession and from such
additional concession blocks whether or not, immediately adjacent, as the parties may mutually agree. All of such
data is hereinafter referred to as the "POGC Lublin Data".
2. FX Energy, at its own cost and expense, will evaluate, interpret and reprocess as much of the POGC Lublin
Data as it deems appropriate and will deliver to POGC copies of such evaluations interpretations and
reprocessing along with its conclusions pertaining to hydrocarbon potential. FX Energy will at all times strictly
maintain the confidentiality of such data and will return all copies to POGC. FX Energy will use reasonable efforts
to identify oil and gas prospects on the POGC Lublin Blocks a