DualEx Energy International Inc. (DXE.V: Quote) announced that it has received from Watutatu Inc., a wholly-owned subsidiary of Africa Hydrocarbons Inc. or AHI, the second installment of the Earning Funds pursuant to the Amended Bouhajla Farmout Agreement dated November 2, 2011.
The company stated that this payment, in the amount of US $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, which is currently planned to spud in September 2012.
DualEx Energy International Inc. is an oil and gas exploration and production company with operations in Hungary and Tunisia.
"We are extremely pleased to have finalized this agreement with AHI, and look forward to the upcoming drilling activity on the Bouhajla Permit", said DualEx President & CEO Garry Hides.
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by RTT Staff Writer
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