HOUSTON, March 26, 2013 (GLOBE NEWSWIRE) -- Duma Energy Corp. (OTCBB:DUMA) has announced its financial and operational results for its second fiscal quarter ended January 31, 2013 have been filed with the SEC.
Revenue for the first two quarters was $3.7 million compared to $3.4 million in the same period in the prior year. Cash flow from operations was $0.66 million for the six months ended January 31, 2013, compared to $0.73 million last year. Assets totaled $26 million, up 7% from $24.3 million in the previous year.
"2013 is expected to be an extremely active year for us in terms of exploration activity and production increases. We have three wells to be drilled onshore in South Texas in the coming months and numerous other projects including reworks and recompletions which could quickly add to our revenues and cash flow. We will also be analyzing and interpreting new 3D seismic data over our 3 northern fields in Galveston Bay to gain a better picture of our existing productive structures as well as take a look at deeper pay zones known to be productive in the region. In Namibia, Africa, we anticipate an aerial gravity magnetic survey to commence this Summer," said Jeremy G. Driver, President and Chief Executive Officer of Duma Energy Corp.
About Duma Energy Corp.
Duma Energy Corp. (OTCBB:DUMA) is an aggressive growth company actively producing oil and gas in the continental United States, both on and offshore. Duma also has a significant interest in a 5.3 million-acre concession in the Republic of Namibia in southern Africa. Duma Energy will continue increasing revenue, cash flow, and reserves while pursuing 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.
Forward-looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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