Business
DualEx completes Pen-105 well, plans for production
DualEx completes Pen-105 well, plans for production
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nSep. 15, 2009 (Canada NewsWire Group) -- CALGARY, Sept. 15 /CNW/ -- DualEx Energy International Inc. (TSX-V: \"DXE\") is pleased to announce that drilling and initial completion operations have concluded at the Pen-105 well on the Nyirseg South permit of northeastern Hungary. The well was drilled to total depth of 1,487 metres and completed in the Miocene volcaniclastics reservoir section that tested gas in the original Pen-12 well drilled in 1982 on the same structure. Nine metres of reservoir were perforated over three intervals in the target formation. All three zones flowed gas, two with condensate. Permitting of the pipeline that will be used to bring the gas to market is underway and construction is planned so that gas sales from this well can commence early in 2010.DualEx CEO Garry Hides stated, \"We're pleased with the test results to-date, and given that the reservoir section came in thicker and 20 metres higher than the original Pen-12 well we're expecting to see a reserve figure higher than our pre-drill estimates, and are looking forward to getting this well on production.\"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 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 ...