Business
DualEx Files Third Quarter Results
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About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Nov. 22 /CNW/ - DualEx Energy International Inc. (TSX-V: "DXE")\ntoday filed with Canadian securities authorities its Third Quarter Financial\nStatements and Management's Discussion and Analysis for the period ending\nSeptember 30, 2007. Copies of the filed documents may be obtained through\nwww.sedar.com, DualEx's website www.dualexen.com, or by emailing DualEx at\[email protected].\n\n\nIn the quarter, the Company completed the acquisition of Winslow\nResources Inc. September production from the Winslow assets was approximately\n26 boepd. DualEx is continuing with the evaluation of these assets, including\ndevelopment, by either funding internally or farming out, or selling those\ninterests which do not fit within DualEx's corporate strategy. In this regard,\nthe Company sold certain mining properties for total consideration of $279,356\nin September and has recently closed a transaction whereby it sold its working\ninterests in the Wainwright area of Alberta for $350,000.\n\n\nIn Hungary, work is continuing with the various development initiatives\nat Peneszlek, which include pipeline integrity testing on the existing\ngathering system (approximately 2/3 completed); the necessary wellbore\npermitting and regulatory approvals for the re-entry of PEN-9 and PEN-12; and\nthe negotiation of natural gas processing and transportation arrangements with\nthe operator of the area infrastructure. The Company's PEN-104 discovery,\ntogether with PEN-9 and PEN-12, in aggregate tested over 7.5 MMcf/day of gas\nfrom the basal Miocene volcaniclastic section and the overlying Pannonian\nsection. The Company has a 37.5% working interest in the Nyirseg Permits,\ncontaining approximately 614,000 gross acres (approximately 230,000 net\nacres).\n\n\nIn Syria, processing of both the 1,105 line kilometres of new 2D seismic\ndata and the 2,338 line kilometres of legacy 2D seismic data on Block 17 is\nnearing completion. This dataset, once integrated with the geologic /\npetrophysical review and existing well data, will be used to rank prospects\nfor drilling in 2008. DualEx has a 31.67% working interest in the\n1.248 million acre Block 17.\n\n\nIn western Portugal, the contracted drilling rig is now enroute, and is\...