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DualEx announces first quarter 2013 results and provides operational update
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, May 27, 2013 /CNW/ - DualEx Energy International Inc. (\"DualEx\" or the \"Company\") (DXE,\n TSX-V) today filed with Canadian securities authorities its First\n Quarter Financial Statements and Management's Discussion and Analysis\n for the period ending March 31, 2013.  Copies of the filed documents\n may be obtained through www.sedar.com, DualEx's website www.dualexen.com or by emailing DualEx at [email protected].\n\n\nDuring the first quarter, production averaged 450 mcfe/d, primarily from\n the Company's Penészlek gas property in northeast Hungary, which, based\n on continued strong European natural gas prices, generated an operating\n netback of $7.08/mcfe.\n\n\nIn April 2013 the Company announced it had entered into an agreement to\n increase its interest in PetroHungaria kft, the Company's partially\n owned operating subsidiary in Hungary. DualEx purchased the 29.56%\n interest for cash consideration of $360,000. The purchase, now closed,\n increases DualEx's interest in PetroHungaria to 70%. PetroHungaria\n operates the 43.38 km2 Penészlek II Mining Plot in northeast Hungary, which includes two\n producing natural gas wells. DualEx's net share of Penészlek production\n is currently averaging 850 mcfe per day.\n\n\nIn Tunisia, the Company reported that its application for a one year\n extension to the Bouhajla exploration permit has been approved. The\n initial period is now set to expire on April 29, 2014. The Company\n anticipates drilling of the first exploration well at Bouhajla, BHN-1,\n to start within the next week, after some delays during rig move and\n set-up. The BHN-1 well will be drilled on the Bouhajla North prospect\n to a planned total depth of 2,545 metres in order to evaluate a\n Cretaceous Abiod target, which is analogous to the Sidi el Kilani\n oilfield twenty-five kilometers to the east. The well is expected to\n take four to six weeks to reach total depth.\n\n\nAbout DualEx Energy International Inc.\n\n\nDualEx Energy International Inc. is an oil and gas exploration and\n production company with operations in Tunisia and Hungary. DualEx's\n common shares trade on the TSX Venture Exchange under the symbol \"DXE\".\n\n\nWhere amounts are expressed on a thousand...