HOUSTON--(EON: Enhanced Online News)--Hydrocarb Energy Corp, along with partner Duma Energy (OTCBB:DUMA), is pleased to announce that it has completed the field acquisition phase of a 13,468 km high-resolution aerial gravity and magnetics program over its oil and gas exploration concession in Northern Namibia.
The high-resolution survey is the first major geophysical exploration program to be carried out over Hydrocarb’s 21,200 sq. km (5.3 million acre) concession, blocks 1714A, 1715, 1814A, and 1815A, located in Namibia’s Owambo Basin, adjacent to the Angola border. The survey was flown by Bridgeporth Ltd. of the UK in order to obtain a first look into the subsurface of this virtually unexplored and very high potential onshore African basin. 85% of the Owambo concession is without any modern geophysical data.
The survey, currently in processing, will be instrumental in determining the structural fabric of the concession and assist in laying out a regional 2D seismic data program that will be acquired in 2014. In addition to recently completed geologic field studies, the completion of the gravity/magnetics survey marks a major milestone in Hydrocarb’s exploration program in Namibia.
Pasquale Scaturro, Hydrocarb’s President and COO stated, “Our recent field work has already proven the existence of crude oil from carbonate source. With this survey and subsequent 2D seismic program, we will be able to map those structures and traps that we believe could contain billions of barrels of potential oil reserves. The Owambo Basin has all of the ingredients to become a major new petroleum province in Africa.”
About Hydrocarb Energy Corporation
Hydrocarb Energy Corporation is a privately held energy exploration and production company targeting major under-explored oil and gas projects in emerging, highly prospective regions of the world. With headquarters in Houston, Texas we maintain offices in Abu Dhabi, UAE and Windhoek, Namibia. For further information visit: www.hydrocarb.com
About Duma Energy Corporation
Duma Energy Corp. (DUMA) is an aggressive growth company actively producing oil and gas in the continental United States. Duma will fund its aggressive growth through acquisition and participation in projects with the potential of providing exponential returns for shareholders. Further information can be found on the Company’s website at www.duma.com or Contact Tony Schor at Investor Awareness Tele: 847-945-2222 or www.InvestorAwareness.com