Pétrole en Tunisie DXE-2011-June

8/3/2019 Ptrole en Tunisie DXE-2011-June

1/21

June 23, 2011


2/21


3/21

Corporate Snapshot

Common shares outstanding

Basic 85,818,337Fully diluted 97,862,012

Current monthl revenue ~$250,000

3

Working Capital ~$1.7 million

Debt Zero

Production (Mayaverage) ~ 750 mcfe/d


4/21

Greater Mediterranean Focus Area

4


5/21

Hungary

5


6/21

y rseg enesz e e , ungary

Pannonian Basin - a proven hydrocarbonprovince with infrastructure in place and readilyaccessible markets.

Producing zones are basal Tertiary tuffaceoussediments and upper Miocene/Pliocene clastics(Pannonian Sandstone), at depths from 1000mto 1800m.

PEN-9 existing

6

Peneszlek MiningPlot covers 43.38km2 with full 3Dseismic coverage.

PEN-105 (40.44%)Flowing Gas Well

PEN-101A (42.83%)Flowing Gas Well

ocene

discovery.Flow test 2.6MMscfd.

SERBIA AND

MONTENEGRO


7/21


8/21

Hungary Sales Metrics

Current price ~ $11.50 per mcf.

Current netback ~ $7 per mcf.

8

-

Compare with current AECO prices ~$3.75 per mcf, and netbacks of ~$2.00 permcf.

Current production (May average) ~700 mcfe/d net yields ~$150k per month

cashflow.


9/21

Tunisia

9


10/21

Tunisia Bouhajla Permit

DualEx 100% WI

Permit covers416 km2 (105,000

ac.)

Permit ratified onApril 30, 2010

10

Effective Date.

Initial Term 3 yrs -Shoot 100kms 2Ddrill one Abiod

test.


11/21


12/21

Tunisia - Hydrocarbon Sector Infrastructure

78 mile (126 km) pipeline fromSidi el Kilani to port at Skhira.

Pipeline sized to handle 22,000 BOPD

from Sidi el Kilani which currentlyproduces approximately 1000 BOPD.

Field production peaked in 1996 at

12

Bouhajla terrain and land use


13/21

What is the Abiod?

Bedding surfaceof Abiod exposedat El Kef, WSW

of Tunis on theNW dipping flankof a NE/SW-trending anticline.Ex osed section is

13

approx. 75m thick.

Open fracturenetwork withinthe very brittle

chalk of the upperAbiod.


14/21

Bouhajla Permit

Commitment to record100kms of 2D seismic and

drill one well in the firstthree years.

Primary objective is theAbiod fractured chalky

14

limestone (250-550 metresthick) with matrix porosity of15-22%.

Depth to primary reservoir

section approximately2200m.10 km

Sidi el Kilani Field


15/21

Producing Analogue Sidi el Kilani

Sidi el Kilani Average Daily Oil Production, 1993-2009

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

FieldAverageDailyOilPro

duction(BOPD)

1994-2001

Avg. daily oil

15,411 BOPD

Nov. 20101,011 BOPD

15

Production is closely related to the late-stage shear structure that splits the fieldinto north and south pools.

The bulk of the approx 48 MMBO produced to-date has come from three wells;SLK-1 (the discovery), SLK-3, and SLK-4. Of these, SLK-4 has produced >27MMBO.

1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Production Year


16/21

Sidi el Kilani Template

Operator (KUFPEC)reported no surfaceshows encounteredduring the drilling of the

discovery well, SLK-1.Direct and cutfluorescence in SWcores.

16

Sidi el Kilani field seismic section - ETAP

Well cased on thestrength of mudgasresponse, petrophysicalevaluation, and SW coreresults.

On perforating, the wellflowed 3360 BOPD oflight (400API) sweetcrude.


17/21


18/21

Bouhajla Prospects - Abiod Time Structure Map

Bouhajla North

Bouhajla Northeast

Three prospecttypes represented:

Four-way closure(Bouhajla N)

Truncation a ainst

18

Bouhajla Southeast

salt diapir(Bouhajla NE)

Three way closurewith updip porosity

pinchout(Bouhajla SE)


19/21

Bouhajla Prospects - NI 51-101 Resource Potential

Martin & Brusset Associates

Summary of Estimates of Petroleum Initially in Place

Bouhajla North, Northeast and Southeast Anomalies

Best (Mstb) High (Mstb) Low (Mstb)

19

Bouhajla North 82,829 129,090 49,441

Bouhajla Northeast 590,912 930,457 354,289

Bouhajla Southeast 358,878 565,094 215,170

TOTAL 1,032,619 1,624,641 618,900


20/21

Summary - Economics

Bouhajla North prospect only:

Initial capex: $7MM - $9MMTarget recoverable oil: ~40 50 million bbls (Sidi el Kilani analogue)

NPV 10% (internal, unrisked) ~$400 - $500 million, net to DualExshare

20

Project is close to infrastructure, leading to fast on-stream time ifsuccessful.

Additional Prospects:

Bouhajla North is the first of the three prospects identified to date.

Bouhajla Northeast and Bouhajla Southeast are significantly largertargets, but currently less mature.


21/21

Corporate Contacts:

Garry Hides, President & CEO

Ken Tompson, Executive VP & COO

21

orne orozo , nance

Website: www.dualexen.com

Phone 403-265-8011

Head Office: Suite 200, 521 3rd Ave SW

Calgary, AB T2P 3T3

Documents

Pétrole en Tunisie DXE-2011-June