/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY, May 29, 2014 /CNW/ - DualEx Energy International
Inc. ("DualEx" or the "Company") (TSX-V: DXE) today announced that
it has been advised by the Tunisian Department of Energy that,
pursuant to the newly adopted Tunisian Constitution, all issues
relating to natural resources contracts must be approved by the
National Constituent Assembly. This is applicable to the
Company's Bouhajla Permit in Northeast
Tunisia and specifically to the second one-year extension,
applied for pursuant to the Hydrocarbons Code by DualEx and the
state oil company, ETAP, in February
2014. The relevant government departments are developing
procedures for implementing this new protocol, and DualEx will
advise shareholders of the National Constituent Assembly approval
and resulting Bouhajla Permit operations as soon as known.
The Company had completed preparations for the re-completion of
the BHN-1 exploration well and was preparing to commence the rig
move when notified by the authorities of the new requirement for
National Constituent Assembly approval. As a result, the workover
rig contracted for this operation will move to a storage site until
such time as the now-required approvals are in place. Once
initiated, the re-completion will entail pulling the existing
production tubing from the wellbore and re-perforating the Abiod
formation using a casing gun and deep penetrating charges, followed
by selective acidization of the individual perforation
intervals.
About DualEx Energy International Inc.
DualEx Energy International Inc. is an oil and gas exploration
and production company with operations in Tunisia and Hungary. 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. The forward-looking statements and information
are based on certain key expectations and assumptions made
by DualEx, including expectations and assumptions
concerningequipment 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.
SOURCE DualEx Energy International Inc.