Business
DualEx and Partners Spud PEN-105 well in Hungary
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
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. 17 /CNW/ - DualEx Energy International Inc (TSXV: "DXE") is\npleased to announce that drilling operations have commenced at the Company's\nPEN-105 location in the Peneszlek area of northeast Hungary. The well spudded\non August 16, 2009 and will be drilled to a depth of approximately 1500 metres\nto test a structure which previously tested gas from the base Miocene\nvolcaniclastics in the PEN-12 well (drilled in 1982). Interpretation of\nproprietary 3D seismic undertaken by DualEx and its partners indicates the\nPEN-12 well is off the structure and the top of the reservoir section is at\nthe pool gas/water contact. PEN-105 will be drilled at a location\napproximately 20 metres structurally higher than PEN-12, on the crest of the\nfour way closure. Drilling is expected to take two weeks followed by a two\nweek test period.\n\n\nDualEx holds a 37.5% interest in the Peneszlek Project through its equity\ninterest in PetroHungaria kft. Other partners are Ascent Resources (45.23%),\nGeomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).\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", "should", "believe", "plans", "intends"\nand similar expressions are intended to identify forward-looking information\nor statements. More particularly and without limitation, this news release\ncontains forward looking statements and information concerning DualEx's future\noperations and prospects. The forward-looking statements and information are\nbased on certain key expectations and assumptions made by DualEx, including\nexpectations and assumptions concerning equipment and crew availability, and\njoint venture...