Business
DualEx files 2011 second quarter results
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[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Aug. 29, 2011 /CNW/ - DualEx Energy International Inc. (\"DualEx\" or the \"Company\") (TSX-V:DXE)\n today filed with Canadian securities authorities its Second Quarter\n Financial Statements and Management's Discussion and Analysis for the\n three and six months ending June 30, 2011.  Copies of the filed\n documents may be obtained through www.sedar.com, DualEx's website www.dualexen.com or by emailing DualEx at [email protected].\n\n\nSummary \n\n\n \n\n\nThree months ended\n\n\nJune 30,\n2011\n\n\nMarch 31,\n2011\n\n\nDecember 31,\n2010\n\n\n\nPetroleum and natural gas production (mcfe/day)  \n\n\n\n\n763\n\n\n1,105\n\n\n1,039\n\n\nSales price per mcfe\n          Hungary\n          North America\n\n\n$11.90$3.45\n\n\n$11.09$3.85\n\n\n$10.89$3.94\n\n\n \n\n\nIn Millions\n\n\nPetroleum and natural gas sales\n\n\n$0.8\n\n\n$1.1\n\n\n$1.0\n\n\nNet Income (Loss)\n\n\n$(0.1)\n\n\n$0.1\n\n\n$(0.1)\n\n\n \n\n\nAs at June\n30, 2011\n\n\nAs at March\n31, 2011\n\n\nAs at December\n31, 2010\n\n\nCash\n\n\n$1.6\n\n\n$1.5\n\n\n$1.4\n\n\nWorking Capital\n\n\n$1.6\n\n\n$1.6\n\n\n$1.3\n\n\nDebt\n\n\nNil\n\n\nNil\n\n\nNil\n\n\nDuring the second quarter, production averaged 763 mcfe/day net to the\n Company, generating sales of $0.8 million. The majority of this\n production is from the Company's gas production in Hungary, where\n prices for the quarter averaged $11.90 per mcfe.  The production\n decrease from the first quarter is mainly due to natural production\n declines from the PEN-105 well in Hungary. Net production averaged\n approximately 700 mcfe/day in July, 2011. Gas prices continue to be\n strong in Hungary where the July 2011 price was approximately $13.00\n per mcfe.\n\n\nIn Tunisia, the Company continues to move forward with the planning of a\n 3D seismic survey over its Bouhajla North prospect, one of three\n prospects identified to date on the Bouhajla Permit, located onshore in\n the Pelagian Basin.\n\n\nDualEx Energy International Inc. is an oil and gas exploration and\n production company with operations in the greater Mediterranean area.\n DualEx's common shares trade on the TSX V...