May 10 (Reuters) - Dundee Corp DCa.TO :
* United Hydrocarbon International Corp enters into agreement with Delonex
* Dundee Corp- subsidiary, United Hydrocarbon International Corp has entered into an agreement with Delonex Energy Ltd
* Says Delonex will pay $35 million on closing of transaction, and will pay an additional $50 million if first oil is achieved
* Dundee Corp - under terms of agreement, Delonex has committed us$65 million in funding within two years of closing date
* Dundee - under deal Delonex will acquire United Hydrocarbon Chad Ltd,unit of United, and holder of United's psc in republic of Chad Source text for Eikon: ID:nMKWwtV57a Further company coverage: DCa.TO