Hydrocarb Energy is pleased to announce the start of a high-resolution
gravity and magnetics survey over its exploration
concession in the Owambo Basin in northern Namibia. The survey will
be flown by UK-based Bridgeporth Ltd. and will cover Blocks 1714A, 1715,
1814A, 1815A. The 21,200 square km (5.3 million acre) concession extends
from the northern border of Etosha Park to Angola, an area approximately
the size of Massachusetts.
Less than 15% of the concession is covered by a vintage (1960-1990) 2D
dataset. The survey will be flown at much higher spatial resolution than
previous surveys, enabling Hydrocarb to delineate the structural setting
and depth to basement model of the Owambo Basin with more accuracy. A
regional modern 2D seismic data grid will be acquired the first half of
next year.
Pasquale
Scaturro, President and COO of Hydrocarb, stated, “We are looking
forward to working with Bridgeporth and their experience in challenging
areas throughout Africa was a key factor in our selection. Hydrocarb is
eager to begin this phase of our work program as previous field studies
indicate the existence of an active petroleum system in the Owambo
Basin. We hope this is the next step in the opening of Africa’s newest
petroleum province.”
Hydrocarb signed a Petroleum Agreement in 2011 with Namibia and in
August 2012, Duma
Energy Corporation (OTCBB:DUMA) farmed in as a 39% working interest
partner. With an initial exploration period of four years, this work
puts the exploration objectives ahead of schedule.
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. (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.
Copyright Business Wire 2013