DualEx Provides Operational Update and Files 2013 Year End Results
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CALGARY, April 23, 2014 /CNW/ - DualEx Energy International Inc. ("DualEx" or the "Company") (DXE, TSX-V) today provided the following update regarding its Tunisia operations. The Company has completed preparations for the re-completion of its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia. The re-completion will entail pulling the existing production tubing from the wellbore and re-perforating the Abiod formation using a casing gun and deep penetrating charges, followed by selective acidization of the individual perforation intervals. One additional zone within the Abiod will be perforated bringing the total number of zones to be evaluated to four. A rig has now been contracted and will move to the BHN-1 location once released from its current operation, anticipated to be in mid May 2014. The entire re-completion operation is expected to take 10 - 14 days once it begins. Extended flow testing will take place at a later date depending on the results of the re-completion operation.
DualEx also announced today that it has filed with Canadian securities authorities its 2013 Annual Consolidated Financial Statements and Management's Discussion and Analysis. The Company has filed its Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator, and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure, under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. This information is included in DualEx's Annual Information Form dated April 22, 2014. Copies of the filed documents may be obtained through www.sedar.com, DualEx's website www.dualexen.com or by emailing DualEx at email@example.com. DualEx also announced that it has terminated its arrangement with TMX Equicom, which provided the Company with investor relations and communications services.
About DualEx Energy International Inc.
DualEx Energy International Inc. is an oil and gas exploration and production company with operations in Tunisia and Hungary. DualEx's common shares trade on the TSX Venture Exchange under the symbol "DXE".
This 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 looking statements and information concerning DualEx's future operations. The forward-looking statements and information are based on certain key expectations and assumptions made by DualEx, including expectations and assumptions concerning equipment and crew availability, and joint venture partner financial capability. Although DualEx believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because DualEx can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause DualEx's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions. Additional information on these and other factors is available in continuous disclosure materials filed by DualEx with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. DualEx undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE DualEx Energy International Inc.For further information: This press release is reproduced on DualEx's website at www.dualexen.com. For this and other information about DualEx, please visit the website or contact Garry Hides (President & CEO) at 403-265-8011 ext. 223.