Business
Penészlek area operations update
Penészlek area operations update
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nCALGARY, Apr. 1, 2010 (Canada NewsWire Group) -- /CNW/ -- DualEx Energy International Inc. (\"DualEx\") (TSX-V: \"DXE\") announces that its subsidiary PetroHungaria kft is currently drilling the PEN-106 well in the Penészlek area of the Nyirség exploration permits in eastern Hungary.The target of the well is the Miocene volcaniclastic formation, within a structure defined on 3-D seismic acquired in 2008 and similar to that proven by the PEN-105 well. The well is planned for a total depth of approximately 1,500 metres and, if productive, will be connected to the existing Penészlek facilities by a two kilometre pipeline, for which the permit has already been obtained.Once the rig has finished the PEN-106 well, it is scheduled to return to PEN-101 to complete the remedial work necessary to enable further testing of the Miocene volcaniclastic reservoir.The partners' interests in the Penészlek project are:-------------------------------------------------------------------------PEN-101 & PEN-106PEN-105 ------------------------------------Interest Revenue Interest Cost Share-------------------------------------------------------------------------Ascent Resources plc 48.776% 51.654% 53.381%-------------------------------------------------------------------------DualEx 40.440% 42.826% 44.258%-------------------------------------------------------------------------Swede Resources 2.157% 2.285% 2.361%-------------------------------------------------------------------------Geomega kft 8.627% 3.235%-------------------------------------------------------------------------DualEx Energy International Inc. is an oil and gas exploration and production company with operations in the greater Mediterranean area. DualEx's common shares trade on the TSX Venture Exchange under the symbol \"DXE\".Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\", \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"schedule\", \"believe\", \"plans\", \"intends\" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward lo...