Business
DualEx Updates Status of Bouhajla Farmout Agreement
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About this update from Spartan Delta Corp
[{"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, May 30, 2012 /CNW/ - DualEx Energy International Inc. (\"DualEx\"\n or \"the Company\") (TSX-V: \"DXE\") announced today that it is in further\n discussions with Watutatu Inc. (the \"Farmee\"), a wholly-owned\n subsidiary of Africa Hydrocarbons Inc., regarding the payment of the\n second installment of the Earning Funds pursuant to the Amended Farmout\n Agreement dated November 2, 2011, regarding the Company's Bouhajla\n Permit, onshore Tunisia. As announced on May 10, 2012, DualEx was to\n have received this payment, in the amount of US $5.25 million, on May\n 29, 2012. Notwithstanding, DualEx and the Farmee are working together\n to finalize the timing of this payment and anticipate concluding these\n discussions in the next few days.\n\n\nDualEx Energy International Inc. is an oil and gas exploration and\n production company with operations in Hungary and Tunisia. DualEx's\n common shares trade on the TSX Venture Exchange under the symbol \"DXE\".\n\n\nForward-Looking Statements\n\n\nThis news release contains forward-looking statements and\n forward-looking information within the meaning of applicable securities\n laws. The use of any of the words \"expect\", \"anticipate\", \"continue\",\n \"estimate\", \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\",\n \"schedule\", \"believe\", \"plans\", \"intends\" and similar expressions are\n intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains\n forward looking statements and information concerning DualEx's future\n operations. The forward-looking statements and information are based on\n certain key expectations and assumptions made by DualEx, including\n expectations and assumptions concerning equipment and crew availability, and joint venture partner financial\n capability. Although DualEx believes that the expectations and assumptions on which\n such forward-looking statements and information are based are\n reasonable, undue reliance should not be placed on the forward looking\n statements and information because DualEx can give no assurance that\n they will prove to be correct. By its nature, such forward-looking\n information is subject to vario...