Business
Dualex announces completion at PEN-104AA
Dualex announces completion at PEN-104AA
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nNov. 2, 2009 (Canada NewsWire Group) -- CALGARY, Nov. 2 /CNW/ -- DualEx Energy International Inc. (TSX-V: \"DXE\") announces that, through its Hungarian subsidiary, PetroHungaria Kft, it has completed the deepening of the PEN-104A sidetracked gas well to a new bottom-hole location (\"PEN-104AA\") in the Nyirség permits of northeastern Hungary. PEN-104AA required highly deviated drilling with inclinations of up to 66 degrees. The well penetrated a 34 metre (true thickness) section of Miocene volcaniclastic reservoir, and drilling was stopped at 1,872 metres MD (1,322 metres TVD), close to the anticipated depth of the gas-water contact determined from offset wells. Based on good mudlog formation gas shows and open-hole well log evaluation, the well was completed with a slotted liner and external casing packers, and will be tested after the drilling rig has left the wellsite. The rig is now being demobilized.DualEx holds a 37.5% interest in the Penészlek Project through its equity interest in PetroHungaria Kft. Other partners are Ascent Resources (45.23%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).DualEx Energy International Inc. is an oil and gas exploration and production company with operations in the greater Mediterranean area. DualEx's common shares trade on the TSX Venture Exchange under the symbol \"DXE\".Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\", \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"believe\", \"plans\", \"intends\" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning DualEx's future operations and prospects. The forward-looking statements and information are based on certain key expectations and assumptions made by DualEx, including expectations and assumptions concerning equipment and crew availability, and joint venture partner financial capability. Although DualEx believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonab...