HOUSTON--(EON: Enhanced Online News)--Hydrocarb Energy Corporation is pleased to announce that it has retained Netherland Sewell and Associates of Houston, Texas to update its oil and gas resource estimate for the Company's exploration concession in the Owambo Basin in northern Namibia.
“We’re really pleased with the results of our ongoing geological and geophysical field work and look forward to receiving a Netherland Sewell resource estimate. We strongly believe that our Namibia concession has a working petroleum system with world-class potential.”
Netherland Sewell is one of the oil and gas industry's foremost reserve engineering consulting firms and will assess the hydrocarbon potential of the Company's 21,300 sq. km (5.3 million acre) concession encompassing blocks 1714A, 1715, 1814B, and 1815A, adjacent to the Angola border.
To date, extensive geologic field studies have been completed proving the existence of excellent high porosity reservoir rocks as well as the presence of crude oil derived from a carbonate source. Hydrocarb is finalizing a concession-wide, high-resolution aerial gravity and magnetics program in preparation for planned acquisition of a regional 2D seismic program to be acquired in 2014.
Pasquale Scaturro, president of Hydrocarb Energy Corporation stated: "We’re really pleased with the results of our ongoing geological and geophysical field work and look forward to receiving a Netherland Sewell resource estimate. We strongly believe that our Namibia concession has a working petroleum system with world-class potential.”
Hydrocarb is the operator of the concession along with Duma Energy Corp. (OTCQB:DUMA) of Houston, TX, who is a 39% working interest partner along with Namibian government-owned Namcor, which holds a 10% carried interest.
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 Corp.
Duma Energy Corp. (OTCQB: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.