/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Aug. 28 /CNW/ - DualEx Energy International Inc. (TSX.V: "DXE")
is pleased to announce that drilling operations at the Company's Gorbehaza No.
1 well ("GH-1") in the Panhandle region of the Nyirseg North Permit in
northeast Hungary have concluded and that casing has been run in advance of
production testing operations.
The GH-1 well was drilled to TD at 1300 metres and data indicates the
well encountered gas in two of the three zones targeted. The drilling rig will
be moved off location and a service rig brought in to conduct the completion
and testing operations, scheduled for commencement within approximately six
DualEx's working interest in the GH-1 well is 12.5%, with Hungarian
Horizon Energy (Operator, 33.333%), JKX Oil and Gas (33.333%), Ascent
Resources (20.167%) and Swede Resources (0.667%) holding the balance.
Further to the announcement of August 17th, 2009, drilling of the PEN-105
well (DualEx 37.5%) in the Peneszlek area of the Nyirseg South Permit in
Hungary is ongoing. It is expected the well will reach total depth of 1500
metres within the next several days. PEN-105 is evaluating a gas prospect in
the Miocene aged volcaniclastics.
DualEx Energy International Inc. is an oil and gas exploration company
with operations in the greater Mediterranean area. 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", "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 and prospects. 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.
For further information:
For further information: This press release is reproduced on DualEx's
website at www.dualexen.com. For this and other information about DualEx
Energy International Inc., please visit the website or contact Garry Hides
(President & CEO) at (403) 265-8011 ext. 223.