CALGARY, ALBERTA — (Marketwire) — 11/08/12 — Africa Hydrocarbons Inc. (TSX VENTURE: NFK) (“AHI” or the “Company”) is pleased to announce operations in Tunisia continue to progress toward a commencement date for the drilling of the BHN-1 well to test the Bouhajla North prospect on its Tunisia acreage. The Operator, Dualex Energy International Inc., has indicated that it has awarded a drilling contract to Compagnie Tunisienne de Forage for the land drilling rig CTF-06 to drill the BHN-1 exploration well on the Bouhajla North prospect within the Bouhajla Permit in central Tunisia. The rig is currently finishing operations on a well prior to moving to a new location for another operator, after which it will mobilize to the BHN-1 location (anticipated to be in the first quarter of 2013).
The BHN-1 well will be drilled to a total depth of 2500 metres and is planned to test a Cretaceous Abiod target, analogous to the Sidi el Kilani field twenty-five kilometers east of the Bouhajla North prospect. Long-lead items are now in-country, and preparations for the civil work related to the location construction are being finalized.
“Now that the drilling schedule with our preferred rig contractor has been finalized we will continue efforts to prepare our drilling location in advance of rig mobilization to our location sometime in Q1, 2013. Despite the unexpected delays, drilling costs remain in line with previous expectations,” states John Nelson, CEO of the Company. “We are looking forward to getting this key well drilled and test the first potential high impact play on our acreage.”
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.
ON BEHALF OF THE BOARD OF AFRICA HYDROCARBONS INC.
John Nelson, CEO
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.
Contacts:
Africa Hydrocarbons Inc.
(403) 265-8011