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DualEx and Partners Spud Gorbehaza No. 1 well in Hungary
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About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Aug. 18 /CNW/ - DualEx Energy International Inc. (TSX-V: "DXE")\nis pleased to announce that drilling has commenced at the Gorbehaza No. 1\n("Gh-1") well in the "Panhandle" region of the Company's Nyirseg North permit\nin northeast Hungary. DualEx is participating as to its 12.5% working interest\nafter having farmed out to Hungarian Horizon Energy Ltd. ("HHE") and JKX Oil\nand Gas Plc. ("JKX"). HHE and JKX farmed in on the Panhandle area earning 66\n2/3 of DualEx's 37.5% interest with the recording of a 120 square kilometre 3D\nseismic survey late last year.\n\n\nGorbehaza No. 1 will be drilled to a total depth of approximately 1300\nmetres, targeting Pannonian clastic and Miocene volcaniclastic reservoirs\nfound to be gas-bearing at the HHE/JKX Hajdunanas discovery 2.2 kilometres to\nthe north. The discovery well, Hajdunanas-1, and the follow up appraisal well,\nHajdunanas-2, were drilled on a four-way dip closure identified on 3D seismic\nrecorded by HHE/JKX in 2007. Production testing of the wells resulted in an\naggregate flow rate of approximately thirty million cubic feet of natural gas\nper day (30 MMcf/d). Overlap of the Panhandle 3D survey with the Hajdunanas 3D\nsurvey provides an excellent tie with the Hajdunanas feature serving as a\ntemplate for the Gorbehaza prospect, also a four-way dip closure.\n\n\nDrilling is expected to take roughly 10 days with testing to follow.\nPartnership interests in the Gorbehaza No. 1 well are DualEx (12.5%), HHE\n(Operator, 33.333%), JKX (33.333%), Ascent Resources (20.167%) and Swede\nResources (0.667%).\n\n\nDualEx Energy International Inc. is an oil and gas exploration company\nwith operations in the greater Mediterranean area. DualEx's common shares\ntrade on the TSX Venture Exchange under the symbol "DXE".\n\n\nForward-Looking Statements\n\n\nThis news release contains forward-looking statements and forward-looking\ninformation within the meaning of applicable securities laws. The use of any\nof the words "expect", "anticipate", "continue", "estimate", "objective",\n"ongoing", "may", "will", "project", "sh...