Hydrocarb Energy Corporation Moves Ahead with Aerial Gravity and Magnetics In Namibia

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Hydrocarb Energy Corporation Moves Ahead with Aerial Gravity and Magnetics In Namibia

HOUSTON--(BUSINESS WIRE)-- Hydrocarb Energy Corporation is pleased to announce that it has concluded the tender process for its upcoming Aerial Gravity and Magnetics program over Blocks 1714A, 1715, 1814A, 1815A in the Owambo Basin of Northern Namibia. The entire 5.3 million acre concession, approximately the size of Massachusetts, will be covered with high resolution gravity and magnetics which will enable the company to program a regional reconnaissance 2D seismic grid to be acquired early 2014.

Hydrocarb and its partner Duma Energy (OTCBB: DUMA) have already performed an extensive geologic and geochemical field survey on their concession confirming the presence of crude oil from a probable carbonate source. This was according to a study performed by Weatherford Laboratories of Houston, Texas. In addition to the upcoming Gravity and Magnetics program, the existing 2D legacy seismic data that currently exists over the concession is in the process of being reprocessed. 85% of the concession is totally unexplored since less than 15% of the concession has seismic data coverage.

Pasquale Scaturro, Hydrocarb's President stated, "We are moving forward on our Namibia exploration project and activity will accelerate as we obtain more modern data. I believe we have the opportunity to open up a new petroleum province with potential reserves in excess of the 1 billion barrels of resource estimate that has been assigned to the Oponono Prospect in Block 1815A in the southeast portion of the concession area.

The Concession is owned and operated 51% by Hydrocarb with its Partners, Duma Energy Corporation (OTCBB: DUMA) with 39% and NAMCOR with 10%.

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: www.hydrocarb.com

About Duma Energy Corporation

Duma Energy Corporation 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 to 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

Hydrocarb Energy Corporation
Kent Watts, 281-978-2590

KEYWORDS:   United States  North America  Namibia  Africa  Texas


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