CALGARY, ALBERTA — (Marketwired) — 11/12/13 — Africa Hydrocarbons Inc. (TSX VENTURE: NFK) (“AHI” or the “Company”) today issued the following news and operational update regarding its BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia where the Company has a 47.5% working interest.
Preparations at the BHN-1 well site are now finished to allow for continuation of the completion and testing program expected to begin within a week. Completion equipment is now being mobilized. The completion program has been expanded to include one additional interpreted fracture interval. Two six meter intervals and one three meter interval over interpreted fracture zones within the logged Abiod reservoir section will be perforated for possible flow and testing analysis.
These operations are expected to take approximately ten days. Results will be press released once relevant flow and pressure data have been collected and interpreted.
“We are pleased to have recently completed a financing that will cover our near term commitments and also enable us to expand our completion and testing program. The 3D seismic, drilling data and log data interpretations have provided some encouraging observations that de-risk certain aspects of the exploration process that we will evaluate further following the completion and testing operation. The next steps will hopefully provide insights on the extent and quality of the fracture network in the vicinity of the wellbore and provide additional data to understand the hydrocarbon potential of this prospect and other prospects on the remainder of our 536 square kilometer block,” states John Nelson, CEO of Africa Hydrocarbons.
About the Company
AHI is a Canadian based international oil and natural gas company involved in the acquisition, exploration and development of energy assets, with an emphasis on Africa. The key asset of the Company is its 47.5% owned Bouhajla Block, located onshore in Tunisia within the productive Pelagian Basin.
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 News Release.
ON BEHALF OF THE BOARD OF
AFRICA HYDROCARBONS INC.
John Nelson, CEO
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 the Company–s future operations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning equipment and crew availability and joint venture partner financial capability. Although the Company 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 the Company 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 the Company–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 the Company 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. The Company 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.
Contacts:
Africa Hydrocarbons Inc.
John Nelson
CEO
(403) 265-8011