Business
DualEx Energy International Inc.- Penészlek area Operations Update
DualEx Energy International Inc.- Penészlek area Operations Update
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nCALGARY, Mar. 23, 2010 (Canada NewsWire Group) -- /CNW/ -- DualEx Energy International Inc. (\"DualEx\") (TSX-V: \"DXE\") announces that its subsidiary PetroHungaria kft has restarted gas production in the Penészlek area of the Nyirség permits in eastern Hungary. Production is from the PEN-105 well and is scheduled to stabilize at over 2 MMscfd within a few days.Additionally, following the completion of further testing operations on the PEN-104AA sidetrack, the PEN-104 wellbore is to be abandoned due to very low gas productivity and high watercut. The drilling rig will now move to and continue drilling the PEN-106 well.As announced on March 15, 2010, the completion of the PEN-101 well has been suspended due to suspected cement isolation failure. Once the drilling of PEN-106 is complete, the drilling rig will return to the PEN-101 location to conduct the remedial work.The partners' interests in the Penészlek project are:-------------------------------------------------------------------------PEN-101 & PEN-106PEN-105 ------------------------------------Interest Revenue Interest Cost Share-------------------------------------------------------------------------Ascent Resources plc 48.776% 51.654% 53.381%-------------------------------------------------------------------------DualEx 40.440% 42.826% 44.258%-------------------------------------------------------------------------Swede Resources 2.157% 2.285% 2.361%-------------------------------------------------------------------------Geomega kft 8.627% 3.235%-------------------------------------------------------------------------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\", \"schedule\", \"believe\", \"plans\", \"intends\" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release conta...