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Wiki	Wiki Summary
Central Intelligence Agency	The Central Intelligence Agency (CIA ), known informally as the Agency and historically as the Company, is a civilian foreign intelligence service of the federal government of the United States, officially tasked with gathering, processing, and analyzing national security information from around the world, primarily through the use of human intelligence (HUMINT) and performing covert actions. As a principal member of the United States Intelligence Community (IC), the CIA reports to the Director of National Intelligence and is primarily focused on providing intelligence for the President and Cabinet of the United States.
Special Activities Center	The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Extracurricular activity	An extracurricular activity (ECA) or extra academic activity (EAA) or cultural activities is an activity, performed by students, that falls outside the realm of the normal curriculum of school, college or university education. Such activities are generally voluntary (as opposed to mandatory), social, philanthropic, and often involve others of the same age.
Activity diagram	Activity diagrams are graphical representations of workflows of stepwise activities and actions with support for choice, iteration and concurrency. In the Unified Modeling Language, activity diagrams are intended to model both computational and organizational processes (i.e., workflows), as well as the data flows intersecting with the related activities.
Paranormal Activity	Paranormal Activity is a 2007 American supernatural horror film produced, written, directed, photographed and edited by Oren Peli. It centers on a young couple (Katie Featherston and Micah Sloat) who are haunted by a supernatural presence in their home.
Physical activity	Physical activity is defined as any voluntary bodily movement produced by skeletal muscles that requires energy expenditure. Physical activity encompasses all activities, at any intensity, performed during any time of day or night.
Student activities	Student activities (also known as campus activities) are student-focused extracurricular clubs and programs offered at a college or university. Student activities are generally designed to allow students to become more involved on campus.
United States	The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, 326 Indian reservations, and nine minor outlying islands.
Exploration	Exploration is the act of searching for the purpose of discovery of information or resources, especially in the context of geography or space, rather than research and development that is usually not centred on earth sciences or astronomy. Exploration occurs in all non-sessile animal species, including humans.
SpaceX	Space is the boundless three-dimensional extent in which objects and events have relative position and direction. In classical physics, physical space is often conceived in three linear dimensions, although modern physicists usually consider it, with time, to be part of a boundless four-dimensional continuum known as spacetime.
Exploration of the Moon	The physical exploration of the Moon began when Luna 2, a space probe launched by the Soviet Union, made an impact on the surface of the Moon on September 14, 1959. Prior to that the only available means of exploration had been observation from Earth.
Hydrocarbon exploration	Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth using petroleum geology.\n\n\n== Exploration methods ==\nVisible surface features such as oil seeps, natural gas seeps, pockmarks (underwater craters caused by escaping gas) provide basic evidence of hydrocarbon generation (be it shallow or deep in the Earth).
Data exploration	Data exploration is an approach similar to initial data analysis, whereby a data analyst uses visual exploration to understand what is in a dataset and the characteristics of the data, rather than through traditional data management systems. These characteristics can include size or amount of data, completeness of the data, correctness of the data, possible relationships amongst data elements or files/tables in the data.
Urban exploration	Urban exploration (often shortened as UE, urbex and sometimes known as roof-and-tunnel hacking) is the exploration of manmade structures, usually abandoned ruins or hidden components of the manmade environment. Photography and historical interest/documentation are heavily featured in the hobby and it sometimes involves trespassing onto private property.
Age of Discovery	The Age of Discovery (or the Age of Exploration), as known as the early modern period, was a period largely overlapping with the Age of Sail, approximately from the 15th century to the 17th century in European history, in which seafaring Europeans explored regions across the globe.\nThe extensive overseas exploration, with the Portuguese and the Spanish at the forefront, later joined by the Dutch, the English and the French, emerged as a powerful factor in European culture, most notably the European encounter and colonization of the Americas.
Alisher Usmanov	Alisher Burkhanovich Usmanov (Russian: Алишер Бурханович Усманов; born 9 September 1953) is an Uzbek-born Russian businessman and oligarch. By 2022, Usmanov had an estimated net worth of $19.5 billion and was among the world's 100 wealthiest people.Usmanov made his wealth after the collapse of the Soviet Union, through metal and mining operations, and investments.
2011 military intervention in Libya	On 19 March 2011, a multi-state NATO-led coalition began a military intervention in Libya, to implement United Nations Security Council Resolution 1973, in response to events during the First Libyan Civil War. With ten votes in favour and five abstentions, the UN Security Council's intent was to have "an immediate ceasefire in Libya, including an end to the current attacks against civilians, which it said might constitute "crimes against humanity" ...
Hardware random number generator	In computing, a hardware random number generator (HRNG) or true random number generator (TRNG) is a device that generates random numbers from a physical process, rather than by means of an algorithm. Such devices are often based on microscopic phenomena that generate low-level, statistically random "noise" signals, such as thermal noise, the photoelectric effect, involving a beam splitter, and other quantum phenomena.
Tourism in Abkhazia	Tourism in Abkhazia is possible under Georgian law for foreigners entering the occupied territory from Georgia, although Georgia cannot assure the safety inside disputed territory.\nHowever, the Abkazian beaches on the Black Sea continue to be accessible for tourists coming from the Russian side of the Abkhazia–Russia border which is not under Georgian control.
What's Your Raashee?	What's Your Raashee? (lit. 'What's Your Zodiac Sign?') is a 2009 Indian Hindi-language romantic comedy film written and directed by Ashutosh Gowariker.
Medical license	A medical license is an occupational license that permits a person to legally practice medicine. In most countries, a person must have a medical license bestowed either by a specified government-approved professional association or a government agency before he or she can practice medicine.
Surgery	Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Operation Mincemeat	Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
Bitwise operation	In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Operations management	Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Operations research	Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Emergency operations center	An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Equity (finance)	In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Regulation	Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context.
Regulation (European Union)	A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law.
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Common stock	Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.

Risk Factors
FX ENERGY INC ITEM 1A RISK FACTORS - -------------------------------------------------------------------------------- Risk Factors Our business is subject to a number of material risks, including, but not limited to, the following factors related directly and indirectly to our business activities in the United States and Poland
8 Risks Relating to our Business Our success depends largely on our discovery of economic quantities of oil or gas in Poland
We do not currently generate sufficient revenues to cover our costs of operation, including our exploration and general and administrative costs, and will continue to rely on funds from external sources until we generate sufficient revenue to cover these costs
Our exploration programs in Poland are based on interpretations of geological and geophysical data
The factors listed below, most of which are outside our control, may prevent us from establishing additional commercial production or substantial reserves as a result of our exploration, appraisal and development activities in Poland: o we cannot assure that any future well will encounter commercial quantities of oil or gas; o there is no method to predict in advance of drilling and testing whether any prospect encountering oil or gas will yield oil or gas in sufficient quantities to cover drilling or completion costs or to be economically viable; o one or more appraisal wells may be required to confirm the commercial potential of an oil or gas discovery; o we may continue to incur exploration costs in specific areas even if initial appraisal wells are plugged and abandoned or, if completed for production, do not result in production of commercial quantities of oil or gas; and o drilling operations may be curtailed, delayed or canceled as a result of numerous factors, including operating problems encountered during drilling, weather conditions, compliance with governmental requirements, shortages or delays in the delivery of equipment or availability of services, and other factors
We have limited control over our exploration and development activities in Poland
Our partner, POGC, holds the majority interest and is operator of our two most important project areas and has a minority interest in a third project area
As a paying partner, we rely to a significant extent on the financial capabilities of POGC If POGC were to fail to perform its obligations under contracts with us, it would most likely have a material adverse effect on us
In particular, we have prepared our exploration budget through 2006 based on the participation of and funding to be provided by POGC Although we have rights to participate in exploration and development activities on some POGC-controlled acreage, we have limited rights to initiate such activities
Further, we have no direct interest in some of the underlying agreements, licenses and grants from the Polish agencies governing the exploration, exploitation, development or production of acreage controlled by POGC Thus, our program in Poland involving POGC-controlled acreage would be adversely affected if POGC should elect not to pursue activities on such acreage, if the relationship between us and POGC should deteriorate or terminate or if POGC or the governmental agencies should fail to fulfill the requirements of or elect to terminate such agreements, licenses or grants
We cannot assure the exploration models we are using in Poland will lead to finding oil or gas in Poland
We cannot assure the exploration models we and POGC have developed will provide a useful or effective guide for selecting exploration prospects and drilling targets
We will have to revise or replace these exploration models as a guide to further exploration if ongoing drilling results do not confirm their validity
These exploration models may be based on incomplete or unconfirmed data and theories that have not been fully tested
The seismic data, other technologies, and the study of producing fields in the area do not enable us to know conclusively prior to drilling that oil or gas will be present in commercial quantities
We cannot assure that the analogies that we draw from available data from other wells, more fully explored prospects, or producing fields will be applicable to our drilling prospects
9 We cannot accurately predict the size of exploration targets or foresee all related risks
Notwithstanding the accumulation and study of 2-D and 3-D seismic data, drilling logs, production information from established fields, and other data, we cannot predict accurately the oil or gas potential of individual prospects and drilling targets or the related risks
Our predictions are only rough, preliminary geological estimates of the forecasted volume and characteristics of possible reservoirs and are not an estimate of reserves
In some cases, our estimates may be based on a review of data from other exploration or producing fields in the area that ultimately may be found not to be similar to our exploration prospects
We may require several test wells and long-term analysis of test data and history of production to determine the oil or gas potential of individual prospects
We have had limited exploratory success in Poland
We have participated in drilling 21 exploratory wells in Poland, including five exploratory successes (the Wilga 2, Kleka 11, Zaniemysl-3, Sroda-4 and Rusocin-1), and sixteen exploratory dry holes
Of our five exploratory successes in Poland, only the Kleka 11 well is currently producing
Gas production is scheduled to commence in the second half of 2006 at Wilga 2 and Zaniemysl-3
We may not achieve the results anticipated in placing our current or future discoveries into production
We may encounter delays in commencing the production and the sale of gas in Poland, including our recent gas discoveries and other possible future discoveries
The possible delays may include obtaining rights-of-way to connect to the POGC pipeline system, obtaining construction permits, availability of materials and contractors, the signing of an oil or gas purchase contract, and other factors
Such delays would correspondingly delay the commencement of cash flow and may require us to obtain additional short-term financing pending commencement of production
Further, we may design proposed surface and pipeline facilities based on possible estimated results of additional drilling
We cannot assure that additional drilling will establish additional reserves or production that will provide an economic return for planned expenditures for facilities
We may have to change our anticipated expenditures if costs of placing a particular discovery into production are higher, if the project is smaller, or if the commencement of production takes longer than expected
Privatization of POGC could affect our relationship and future opportunities in Poland
Our activities in Poland have benefited from our relationship with POGC, which has provided us with exploration acreage, seismic data and production data under our agreements
The Polish government commenced the privatization of POGC by selling POGC &quote s refining assets
In late 2005, POGC successfully completed an initial public offering on the Warsaw stock exchange, and approximately 35prca of POGC is now owned by the public and current and former employees
Privatization may result in new policies, strategies or ownership that could adversely affect our existing relationship and agreements, as well as the availability of opportunities with POGC in the future
We have a history of operating losses and may require additional capital in the future to fund our operations
From our inception in January 1989 through December 31, 2005, we have incurred cumulative net losses of dlra68dtta5 million
We expect that our exploration and production activities may continue to result in net losses and that our accumulated deficit may increase
We anticipate that we will incur losses through 2006 and possibly beyond, depending on whether our activities in Poland and the United States result in sufficient revenues to cover related operating expenses
Until sufficient cash flow from operations can be obtained, we expect we will need additional capital to fully fund our ongoing planned exploration, appraisal, development and property acquisition programs in Poland
We have no current arrangement for any such additional financing, but may seek required funds from the issuance of additional debt or equity securities, project financing, strategic alliances or other arrangements
Although we are currently negotiating with commercial lenders to establish a credit facility, we can offer no assurances that we will be able to obtain financing on acceptable or favorable terms
Obtaining additional financing may dilute the interest of our 10 existing stockholders or our interest in the specific project being financed
We cannot assure that additional funds could be obtained or, if obtained, would be on terms favorable to us
In addition to planned activities in Poland, we may require additional funds for general corporate purposes
The loss of key personnel could have an adverse impact on our operations
We rely on our officers and key employees and consultants and their expertise, particularly David N Pierce, President and Chief Executive Officer; Thomas B Lovejoy, Chairman and Chief Financial Officer; Andrew W Pierce, Vice-President and Chief Operating Officer, Jerzy B Maciolek, Vice-President of Exploration, Zbigniew Tatys, Poland Country Manager, and Richard Hardman, Director and Chairman of our technical committee
The loss of the services of any of these individuals may materially and adversely affect us
We have entered into employment agreements with our key executives
We do not maintain key-man insurance on any of our employees
The price we receive for gas we sell will likely be lower than free market gas prices in western Europe
Our limited number of wells and reserves means we cannot assure uninterruptible supply in sufficient quantities to meet the anticipated requirements of industrial users, so we currently are dependent on selling gas to POGC at prices generally lower than prevailing in western Europe
The market for the sale of gas in Poland is open to competition, but there are not yet many participants
Accordingly, we expect that the prices we receive for the gas we produce will be lower than would be the case in a fully competitive setting and may be lower than prevailing western European prices, at least until a fully competitive market develops in Poland or until we are able to assure potential purchasers other than POGC that we have sufficient wells and reserves to assure an uninterruptible supply in sufficient quantities
Further, there is no established market relationship between gas prices in short-term and long-term sales agreements
Notwithstanding the strong demand for gas in Poland, the availability of abundant quantities of gas from former members of the Soviet Union and the low cost of electricity from coal-fired generating facilities may also tend to depress gas prices in Poland
Oil and gas price decreases and volatility could adversely affect our operations and our ability to obtain financing
Oil and gas prices have been and are likely to continue to be volatile and subject to wide fluctuations in response to the following factors: o the market and price structure in local markets; o changes in the supply of and demand for oil and gas; o market uncertainty; o political conditions in international oil and gas producing regions; o the extent of production and importation of oil and gas into existing or potential markets; o the level of consumer demand; o weather conditions affecting production, transportation and consumption; o the competitive position of oil or gas as a source of energy, as compared with coal, nuclear energy, hydroelectric power and other energy sources; o the availability, proximity and capacity of gathering systems, pipelines and processing facilities; o the refining and processing capacity of prospective oil or gas purchasers; o the effect of governmental regulation on the production, transportation and sale of oil and gas; and o other factors beyond our control
11 We have not entered into any agreements to protect us from price fluctuations and may or may not do so in the future
Insurance may not be adequate to protect us against all these risks
Our oil and gas drilling and production operations are subject to hazards incidental to the industry
These hazards include blowouts, cratering, explosions, uncontrollable flows of oil, gas or well fluids, fires, pollution, releases of toxic gas and other environmental hazards and risks
These hazards can cause personal injury and loss of life, severe damage to and destruction of property and equipment, pollution or environmental damage, and suspension of operations
To lessen the effects of these hazards, we maintain insurance of various types to cover our domestic operations
We cannot assure that the general liability insurance of dlra10dtta0 million carried by us can continue to be obtained on reasonable terms
POGC, as operator of the Fences project area, is self-insured
We do not plan to purchase well control insurance on wells we drill in the Fences project area and may elect not to purchase such insurance on wells drilled in other areas in Poland as well
The current level of insurance does not cover all of the risks involved in oil and gas exploration, drilling and production
Where additional insurance coverage does exist, the amount of coverage may not be sufficient to pay the full amount of such liabilities
We may not be insured against all losses or liabilities that may arise from all hazards because such insurance is unavailable at economic rates, because of limitations on existing insurance coverage, or other factors
For example, we do not maintain insurance against risks related to violations of environmental laws
We would be adversely affected by a significant adverse event that is not fully covered by insurance
Further, we cannot assure that we will be able to maintain adequate insurance in the future at rates we consider reasonable
Risks Relating to Conducting Business in Poland Polish laws, regulations and policies may be changed in ways that could adversely impact our business
Our oil and gas exploration, development and production activities in Poland are and will continue to be subject to ongoing uncertainties and risks, including: o possible changes in government personnel, the development of new administrative policies, and practices and political conditions in Poland that may affect the administration of agreements with governmental agencies or enterprises; o possible changes to the laws, regulations and policies applicable to us and our partners or the oil and gas industry in Poland in general; o uncertainties as to whether the laws and regulations will be applicable in any particular circumstance; o uncertainties as to whether we will be able to enforce our rights in Poland; o uncertainty as to whether we will be able to demonstrate, to the satisfaction of the Polish authorities, our and POGCapstas compliance with governmental requirements respecting exploration expenditures, results of exploration, environmental protection matters, and other factors; o the inability to recover previous payments to the Polish government made under the exploration rights or any other costs incurred respecting those rights if we were to lose or cancel our exploration and exploitation rights at any time; o political instability and possible changes in government; o export and transportation tariffs; o local and national tax requirements; 12 o expropriation or nationalization of private enterprises and other risks arising out of foreign government sovereignty over our acreage in Poland; and o possible significant delays in obtaining opinions of local authorities or satisfying other governmental requirements in connection with a grant of permits to conduct exploration and production activities
Poland has a developing regulatory regime, regulatory policies and interpretations
Poland has a developing regulatory regime governing exploration and development, production, marketing, transportation and storage of oil and gas
These provisions were recently promulgated and are relatively untested
Therefore, there is little or no administrative or enforcement history or established practice that can aid us in evaluating how the regulatory regime will affect our operations
It is possible that such governmental policies will change or that new laws and regulations, administrative practices or policies or interpretations of existing laws and regulations will materially and adversely affect our activities in Poland
For example, Polandapstas laws, policies and procedures were changed to conform to the requirements that had to be met before Poland was admitted as a full member of the European Union
Our oil and gas operations are subject to rapidly changing environmental laws and regulations that could have a negative impact on our operations
Operations on our project areas are subject to environmental laws and regulations in Poland that provide for restrictions and prohibitions on spills, releases or emissions of various substances produced in association with oil and gas exploration and development
Additionally, if significant quantities of gas are produced with oil, regulations prohibiting the flaring of gas may inhibit oil production
In such circumstances, the absence of a gas gathering and delivering system may restrict production or may require significant expenditures to develop such a system prior to producing oil and gas
We may be required to prepare and obtain approval of environmental impact assessments by governmental authorities in Poland prior to commencing oil or gas production, transportation and processing functions
We and our partners cannot assure that we have complied with all applicable laws and regulations in drilling wells, acquiring seismic data or completing other activities in Poland to date
The Polish government may adopt more restrictive regulations or administrative policies or practices
The cost of compliance with current regulations or any changes in environmental regulations could require significant expenditures
Further, breaches of such regulations may result in the imposition of fines and penalties, any of which may be material
These environmental costs could have a material adverse effect on our financial condition, results of operations, or cash flows in the future
Certain risks of loss arise from our need to conduct transactions in foreign currency
The amounts in our agreements relating to our activities in Poland are sometimes expressed and payable in United States dollars and sometimes in Polish zlotys
Conversions between United States dollars and Polish zlotys are made on the date amounts are paid or received
In the future, our financial results and cash flows in Poland may be affected by fluctuations in exchange rates between the Polish zloty and the United States dollar
We have not hedged our foreign currency activities in the past and do not plan to do so
Currencies used by us may not be convertible at satisfactory rates
In addition, the official conversion rates between United States and Polish currencies may not accurately reflect the relative value of goods and services available or required in Poland
Further, inflation may lead to the devaluation of the Polish zloty
Risks Related to an Investment in our Common Stock Our stockholder rights plan and bylaws discourage unsolicited takeover proposals and could prevent our stockholders from realizing a premium on our common stock
We have a stockholder rights plan that may have the effect of discouraging unsolicited takeover proposals
The rights issued under the stockholder rights plan would cause substantial dilution to a person or group 13 that attempts to acquire us on terms not approved in advance by our board of directors
In addition, our articles of incorporation and bylaws contain provisions that may discourage unsolicited takeover proposals that our stockholders may consider to be in their best interests that include: o provisions that members of the board of directors are elected and retire in rotation; and o the ability of the board of directors to designate the terms of, and to issue new series of, preferred shares
Together, these provisions and our stockholder rights plan may discourage transactions that otherwise could involve payment to our stockholders of a premium over prevailing market prices for our common shares
Our common stock price has been and may continue to be extremely volatile
Our common stock has traded as low as dlra4dtta50 and as high as dlra16dtta71 during intra-day trading between January 1, 2005, and the date of this report
Some of the factors leading to this volatility include: o the outcome of individual wells or the timing of exploration efforts in Poland; o the potential sale by us of newly issued common stock to raise capital or by existing stockholders of restricted securities; o price and volume fluctuations in the general securities markets that are unrelated to our results of operations; o the investment communityapstas view of companies with assets and operations outside the United States in general and in Poland in particular; o actions or announcements by POGC that may affect us; o prevailing world prices for oil and gas; o the potential of our current and planned activities in Poland; and o changes in stock market analysts &apos recommendations regarding us, other oil and gas companies or the oil and gas industry in general
We may encounter additional exploration failures in Poland that will adversely affect the trading prices for our common stock