Business
DualEx Files 2010 Second Quarter Results
DualEx Files 2010 Second Quarter Results
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n Aug. 19, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nCALGARY, Aug. 19 /CNW/ - DualEx Energy International Inc. ("DualEx" or the "Company") (DXE, TSX-V) today filed with Canadian securities authorities its Second Quarter Financial Statements and Management's Discussion and Analysis for the period ending June 30, 2010. Copies of the filed documents may be obtained through www.sedar.com, DualEx's website www.dualexen.com or by emailing DualEx at [email protected].\n\n\n >\n\n\nDuring the second quarter, production in Hungary recommenced from the PEN-105 well (in late May) and the PEN-101A well (in June), generating sales of $642,091. In July the Company's share of Hungary production from both wells is estimated to be 1300 mcfe/day. Revenue from this production is estimated to be $430,000 for the month, with corresponding cashflow of approximately $300,000. Given the much higher price the Company receives for its natural gas production in Hungary (and resulting netback), current production levels generate significantly higher cash flows than that which would be realized from an equivalent natural gas production level in Western Canada.\nIn Tunisia, DualEx continues to progress its exploration program on the Bouhajla Permit. As announced on June 22, 2010, Martin & Brusset Associates, an independent qualified reserves evaluator and auditor, completed an initial evaluation of undiscovered resource potential of the "Bouhajla North" prospect, the first prospect identified on the Company's Bouhajla Exploration Permit onshore central Tunisia. The evaluation is entitled "Evaluation of Undiscovered Resource Potential of North Bouhajla Anomaly, East Central Tunisia Effective May 31, 2010" (the "Report") and was completed in compliance with National Instrument 51-101 - Standards of Disc...