MENA Hydrocarbons Inc.

MENA Hydrocarbons Inc.

November 24, 2011 08:00 ET

MENA Hydrocarbons Inc. Announces Extension of Exploration Period for Block IX, Syria

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2011) - MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announces that it has been advised that the initial exploration period under the terms of the Block IX Production Sharing Contract has been extended for 11 months from November, 28, 2011 to October, 27 2012. MENA had previously announced on October, 17 2011 that Loon Latakia Limited, a wholly-owned subsidiary of Kulczyk Oil Ventures Inc., was suspending exploration activity in Syria and that the Itheria-1 well, which was spud in July 2011 with a target depth of 3,256 metres, was suspended at a depth of 2,072 metres.

About MENA Hydrocarbons

MENA Hydrocarbons is an international oil and gas company focused on growing an asset base of production, development and high impact exploration in the Middle East and North Africa region. In Egypt, MENA owns and operates the development lease for the Lagia oil field, a 32 square kilometre onshore block located on the Sinai Peninsula, directly adjacent to the Gulf of Suez. In Syria, MENA owns a 30% participating interest in Block 9 in Syria, a 10,032 square kilometre onshore block prospective for crude oil, natural gas and condensate. In the United States, MENA owns 6,242 gross acres (with an 81.2% average working interest) in Northwestern Montana with light/medium oil reserves, and 36,201 gross acres (with a 99.5% average working interest) in East-Central Utah prospective for both commercial gas sand and coal bed methane. MENA's shares currently trade on the TSX Venture Exchange under the symbol "MNH".

Further information

For more information, please see MENA's corporate presentation on www.menahydrocarbons.com.

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 release.

Contact Information

  • MENA Hydrocarbons Inc.
    Graham Lyon
    President & Chief Executive Officer
    Main Phone: +1.403.930.7500
    +1.403.930.7599 (FAX)

    MENA Hydrocarbons Inc.
    Jason Bednar
    Vice President & Chief Financial Officer
    Main Phone: +1.403.930.7500
    +1.403.930.7599 (FAX)

    MENA Hydrocarbons Inc.
    1000, 205 - 5th Avenue S.W.
    Calgary, AB
    T2P 2V7
    general_inquiries@menahydrocarbons.com
    www.menahydrocarbons.com