CALGARY, ALBERTA — (Marketwired) — 11/25/13 — Africa Hydrocarbons Inc. (TSX VENTURE: NFK) (“AHI” or the “Company”) today provided the following additional details with respect to its news release dated November 22, 2013 regarding the Company–s BHN-1 exploration well on the Bouhajla Permit in northeastern Tunisia.
Completion operations at the BHN-1 well are ongoing, despite setbacks related to complications associated with the acid injection program. The Company experienced difficulties injecting acid into the Abiod formation as planned, which would ordinarily have improved potential hydrocarbon access from the formation into the wellbore. An acid injection such as this is a typical completion method used within fractured carbonate formations such as the Abiod.
The Operator, DualEx Energy International Inc., is currently exploring a variety of possible explanations for the difficulties associated with accessing the formation, including, but not limited to, failed or inadequate perforation charges, an improper perforation method, and complications related to the amount of pressure applied to the acid injection.
In order to determine possible causes of the failed acid injection, the Company plans to utilize a borehole imaging tool that will assist in determining if an adequate number of perforations exist, thereby allowing sufficient penetration through casing, cement and into the rock formation. The results produced by the borehole imaging tool will, along with other data, be considered when planning subsequent operations. At such time as the necessary equipment is brought in and operations have been finished, the Company will provide additional information. It is expected that the next stage of operations on the well will take up to 30 days.
At this time, the Company believes the Abiod formation remains un-evaluated with unchanged potential for yielding a producing well at BHN-1.
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.
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
Africa Hydrocarbons Inc.
200, 521-3rd Ave SW
Calgary, Alberta T2P 3T3
(403) 265-8011