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DualEx Energy International Inc. has received from Watutatu Inc., a wholly-owned subsidiary of Africa Hydrocarbons Inc., the second installment of the earning funds pursuant to the amended Bouhajla farmout agreement.
This payment, in the amount of $5.25 million, completes the farmee's earning obligations and will be applied towards the drilling of the BHN-1 well, the first well on the Bouhajla North prospect onshore Tunisia, Africa, which is currently planned to spud in September.
DualEx president and chief executive officer, Garry Hides, said, "In addition, we are in the design and planning stages of a 3D seismic survey on the recently awarded KT extension area of the Bouhajla permit, and anticipate field operations at KT in the coming months."