DualEx Energy International Inc. has acquired 100% of the contractor interest in the Bouhajla exploration permit located in the western Pelagian Basin of northeast Tunisia, the company said in a Feb. 27 release.
Pursuant to the terms of the Bouhajla farm-out agreement, Africa Hydrocarbons Inc. has forfeited its 47.5% indirect interest in the agreement and the Bouhajla production sharing contract (PSC), all relating to the Bouhajla permit.
As a result, DualEx's wholly owned subsidiary, DualEx Tunisia Inc., has exercised its rights under the agreement to acquire the forfeited interest and now holds 100% of the contractor interest in the Bouhajla PSC and convention.
DualEx continues to work towards conducting a 100 sq km 3-D seismic survey on the Ktitir prospect within the Bouhajla permit, and is actively seeking partners to participate in this project.
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