DualEx Energy International (DXE-V) and Africa Hydrocarbons (NFK-V) March 21, '14 today provided the following operational update regarding the company's BHN-1 exploration well on the Bouhajla permit in northeastern Tunisia and its producing operations in Hungary.
The company has finalized a recompletion program for the BHN-1 well on the Bouhajla permit in northeast Tunisia. The operation will involve using a workover rig to pull the existing production tubing from the wellbore and reperforate the Abiod formation using a casing gun and deep penetrating charges. To that end, materials and equipment have been sourced, and the company is in the process of contracting the services of the workover rig. Additional details regarding the recompletion will be provided prior to the commencement of operations, currently expected to take place in late April, 2014.
The company also announces that ETAP, the Tunisian state oil company, has agreed to a one-year extension to the first exploration period of the Bouhajla permit, thereby extending the first period until April 28, 2015.
In Hungary, natural gas production from the Peneszlek field continues from the Miocene volcaniclastic reservoir section at a rate of approximately 425,000 cubic feet per day (net 300,000 accruing to DualEx). These figures are in line with company expectations, with a decrease in gas volume since last reported attributable to the natural declines in the reservoir. The company continues to benefit from strong natural gas prices, which are currently $12.50 (U.S.) per thousand cubic feet. |
