Business
DualEx Files 2012 Year End 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, April 29, 2013 /CNW/ - DualEx Energy International Inc. (the \"Company\") (DXE, TSX-V) today\n filed with Canadian securities authorities its 2012 Annual Consolidated\n Financial Statements and Management's Discussion and Analysis.  The\n Company has filed its Form 51-101F1 - Statement of Reserves Data and Other Oil\n and Gas Information, Form 51-101F2 - Report on Reserves Data by\n Independent Qualified Reserves Evaluator, and Form 51-101F3 - Report of\n Management and Directors on Oil and Gas Disclosure, under National\n Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.\n This information is included in DualEx's Annual Information Form dated\n April 25, 2013.  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]. The Company's Annual General Meeting of Shareholders is scheduled for\n 9:00 AM July 25, 2013 at the Metropolitan Conference Centre located at\n 333 - 4th Avenue SW, Calgary Alberta.\n\n\nSELECTED FINANCIAL & OPERATIONAL HIGHLIGHTS \n\n\n\n\n\n \n\n\n \n\n\nYear ended\n\n\n \n\n\n \n\n\n \n\n\nDecember 31\n\n\n \n\n\n \n\n\n2012\n\n\n \n\n\n2011\n\n\nPetroleum and natural\n\n\n \n\n\n \n\n\n \n\n\ngas production (mcfe/d)\n\n\n474\n\n\n \n\n\n725\n\n\nAverage price ($/mcfe)\n\n\n $ 14.00\n\n\n \n\n\n $ 11.72\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nFinancial\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nPetroleum and natural gas sales\n\n\n $ 2,425,454\n\n\n \n\n\n $ 3,099,883\n\n\nFunds flow from operations\n\n\n137,235\n\n\n \n\n\n503,062\n\n\nNet Loss\n\n\n(448,604)\n\n\n \n\n\n(119,247)\n\n\nWorking capital at December 31\n\n\n1,304,506\n\n\n \n\n\n1,963,283\n\n\n \n\n\nThe Company had annual average natural gas production of 474 thousand\n cubic feet equivalent (\"mcfe\") per day and realized an average sales\n price of $14.00 per mcfe. The Company's average production for the\n fourth quarter of 2012 was 643 mcfe per day with an average sales price\n of $14.43 per mcfe.\n\n\nThe Company gene...