Business
DualEx updates production rates in Hungary
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Aug. 18 /CNW/ - DualEx Energy International Inc. (the "Company")\n(DXE, TSX-V), is pleased to announce that gas production from the PEN-104 well\nin the Peneszlek area of NE Hungary has stabilized at 3.12 MMcf/d, or\n520 BOE/d (1.17 MMcf/d, or 195 BOE/d net to the Company), up from the\npreviously announced initial rate of 1.7 MMcf/d (net 637.5 mcf/d, or\n106 BOE/d).\n\n\nGarry Hides, DualEx's President and CEO, commented "Completion of\nfacilities and commencement of production from PEN-104 is very much a\nmilestone for the Company. This is the first step in the Peneszlek\ndevelopment, which will ultimately involve 3D seismic, the recompletion and\ntie-in of existing wells, and the drilling of new wells, and provides DualEx\nwith a low risk development project to complement our high-impact exploration\nplays."\n\n\nDualEx has a 37.5% interest in this project through its equity interest\nin PetroHungaria kft. Other partners are Ascent Resources (45.23%), Geomega\n(8%), Leni Gas & Oil (7.27%), and Swede Resources of (2%).\n\n\nDualEx Energy International Inc. is an oil and gas exploration company\nwith operations in the greater Mediterranean area. DualEx's common shares\ntrade on the TSX Venture Exchange under the symbol "DXE".\n\n\nForward-Looking Statements\n\n\nThis news release contains forward-looking statements and forward-looking\ninformation within the meaning of applicable securities laws. The use of any\nof the words "expect", "anticipate", "continue", "estimate", "objective",\n"ongoing", "may", "will", "project", "should", "believe", "plans", "intends"\nand similar expressions are intended to identify forward-looking information\nor statements. More particularly and without limitation, this news release\ncontains forward looking statements and information concerning DualEx's future\noperations and prospects. The forward-looking statements and information are\nbased on certain key expectations and assumptions made by DualEx, including\nexpectations and assumptions concerning equipment and crew availability, and\njoint venture partner fina...