HOUSTON--(BUSINESS WIRE)--Hydrocarb Energy Corporation is pleased to announce that Dr. Thomas Hoak has been appointed Manager of Geology and Geophysics for its Namibian oil & gas exploration effort, effective immediately. Specializing in the integration of potential field and seismic data with regional tectono-structural interpretations, Dr. Hoak has worked as a structural geologist in Italy, Zimbabwe, and Canada, and has held various positions consulting for projects in numerous Rocky Mountain basins, West Texas, and Oklahoma.
“The results of early lab reports coming in from our recent field study confirm our belief that the Owambo Basin contains a petroleum system with huge potential for a major discovery. We’re moving aggressively towards the next phase of our exploration program as our 2012 field studies are nearing completion.”
Jeremy Driver, Chief Executive Officer of Duma Energy (OTCBB:DUMA), commented, “Soil and rock samples obtained in our initial field study were submitted for independent analysis, and the results of a recent Weatherford Laboratory report indicate crude oil from a probable carbonate source. Similar carbonate basins in Oman, Siberia and North Africa have prolific oil production, and we are encouraged to push ahead. Tom has the expertise that is needed to expedite our field studies.” Duma Energy is a 39% working interest partner in Hydrocarb Energy Corporation’s onshore Owambo Basin concession.
Dr. Hoak will be responsible for the geology and geophysics assessment of Hydrocarb Energy’s Owambo Basin concession in Northern Namibia. This includes a desk study and continuation of a field program to examine source and reservoir rocks in outcrop, assess hydrocarbon seeps, and scout areas to acquire 2D regional seismic data. Plans are underway to fly high-resolution aeromagnetic and gravity survey of blocks 1814A, 1714A, 1715, and 1815A in the Owambo Basin to facilitate siting of the regional lines.
Kent Watts, Hydrocarb Energy’s Chief Executive Officer said, “The results of early lab reports coming in from our recent field study confirm our belief that the Owambo Basin contains a petroleum system with huge potential for a major discovery. We’re moving aggressively towards the next phase of our exploration program as our 2012 field studies are nearing completion.”
Despite its extensive resources, Africa remains largely under-explored with Northern Namibia having all of the key ingredients for becoming a major oil province, including good reservoir and source rocks. Hydrocarb’s Owambo Basin concession, at over 5 million acres, is roughly the size of Massachusetts and the greater Owambo Basin, extending into southern Angola, is one of the largest unexplored onshore basins in Africa.
For information please contact:
Kent Watts, CEO
Hydrocarb Energy Corporation
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 (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 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.