DualEx Energy International Inc.- Penészlek area Operations Update

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, March 23 /CNW/ - DualEx Energy International Inc. ("DualEx") (TSX-V: "DXE") announces that its subsidiary PetroHungaria kft has restarted gas production in the Penészlek area of the Nyirség permits in eastern Hungary. Production is from the PEN-105 well and is scheduled to stabilize at over 2 MMscfd within a few days.

Additionally, following the completion of further testing operations on the PEN-104AA sidetrack, the PEN-104 wellbore is to be abandoned due to very low gas productivity and high watercut. The drilling rig will now move to and continue drilling the PEN-106 well.

As announced on March 15, 2010, the completion of the PEN-101 well has been suspended due to suspected cement isolation failure. Once the drilling of PEN-106 is complete, the drilling rig will return to the PEN-101 location to conduct the remedial work.

The partners' interests in the Penészlek project are:

    
    -------------------------------------------------------------------------
                                                      PEN-101 & PEN-106
                              PEN-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 Statements

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 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.

Glossary:

"MMscfd": million standard cubic feet per day.

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.

%SEDAR: 00023802E

SOURCE DualEx Energy International Inc.

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.

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