Hydrocarb Energy Begins Gravity Magnetics Survey in Namibia
Hydrocarb Energy Begins Gravity Magnetics Survey in Namibia
New Data to Enhance Africa Oil & Gas Exploration Effort
HOUSTON--(BUSINESS WIRE)-- 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.
Hydrocarb Energy Corporation
Kent Watts, 281-978-2590
CEO
info@hydrocarb.com
KEYWORDS: United States North America Namibia Africa Texas
INDUSTRY KEYWORDS:
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