Hydrocarb Energy Corporation (OTCQB:HECC) today announced that it has
received the final comprehensive report on its recently acquired
high-resolution aerial gravity and magnetics survey flown over its
Owambo Basin exploration concession in Northern Namibia.
The independent analysis and interpretation has indicated the existence
of up to 16 additional structural leads in blocks 1714A, 1715, 1814B,
and 1815A. The company intends to delineate these new leads with the
acquisition of approximately 750 kms of modern 2-dimensional seismic
data. Permitting and environmental assessment operations for the
upcoming seismic program have been commenced.
Chuck Dommer, Hydrocarb’s President, stated, “The results of our
recently flown aerial gravity and magnetics program are extremely
encouraging and have given us numerous additional structural leads that
we plan on detailing with modern seismic data. Since only 15% of our
concession is currently covered by legacy 2D seismic we could have
several more high potential structural prospects that would give us
additional oil resources.”
Hydrocarb Energy holds a 90% working interest in the highly prospective
Owambo Basin concession in northern Namibia with Namcor, the Namibian
National Oil Company, holding the remaining 10%. Extensive geologic
field studies have were completed last year proving the existence of
excellent high-porosity reservoir rocks as well as soil sampling
indicating the presence of crude oil derived from a carbonate source.
About Hydrocarb Energy
Hydrocarb Energy Corporation is a publicly-traded Domestic and
International Energy Exploration and Production Company targeting major
under-explored oil and gas projects in emerging, highly prospective
regions of the world. With exploration concessions in Africa, production
in Galveston Bay, and Oil Field Services in the United Arab Emirates, we
maintain offices in Houston, Texas, Abu Dhabi, UAE and Windhoek, Namibia.
For further information: www.hydrocarb.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.
Copyright Business Wire 2014