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CALGARY, April 30 /CNW/ - DualEx Energy International Inc. (TSX-V: "DXE")
is pleased to announce that the Company and its partners, PetroHungaria and
PetroPequina, commenced drilling, on April 26, 2007, the first of two option
wells in the Nyirseg area of NE Hungary. DualEx will pay 75% of the costs to
drill PEN-102, an appraisal well of a gas discovery made in 1983 at PEN-12
which was never placed on production, and will target lower Miocene tuffaceous
reservoir rocks that produced in the Penészlek gas field roughly five
kilometers to the east. In addition, the prospect includes a shallower
Pannonian sand of similar age to that successfully tested in the PEN-104 well
(DualEx gas discovery announced in November, 2006).
Following the drilling of PEN-102, the rig will be moved to the second
option well, VAM-1, to test exploration prospects in both the Miocene and
Pannonian sections in the Vamospercs area, roughly 18 kilometers to the
southwest of the Penészlek field. Upon completion of the drilling of these two
option wells, DualEx will have finalized earning its 37.5% working interest in
over 600,000 acres within the Nyirseg North and South Exploration Permits.
In addition to follow-up to the PEN-104 discovery, DualEx and its
partners are evaluating two recompletion candidates in the Penészlek area,
which could be undertaken once earning has been completed. Each of these two
suspended wells previously tested gas from the Miocene in the 1980's but were
never tied in.
Garry Hides, DualEx CEO, commented: "we're pleased to be back drilling at
Nyirseg. Each of these two wells could add significantly to the already
demonstrated potential of the blocks. Once we've completed earning our final
working interest with these wells we can move forward with our partners to
more fully evaluate the blocks, including getting gas on production at
DualEx Energy International Inc. is a full cycle 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".
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: about DualEx Energy International Inc., please
visit our website at www.dualexen.com, or contact Garry Hides (President &
CEO) at (403) 265-8011 ext. 223