Duma Energy Corp. (DUMA) and Hydrocarb Energy Corp. Form Alliance to Explore for World Class Reserves in Africa Oil Concession
Hydrocarb Energy just announced the completion of a farm-out agreement to Duma Energy Corporation. Houston-based Duma, with current production in the Gulf Coast, indirectly owns a 39% working interest in Owambo blocks 1714A, 1715, 1814A, and 1815A in northern Namibia. "Our vast and underexplored concession shows tremendous potential based on the data available to date,” stated Kent Watts, Hydrocarb's Chief Executive. “We have reviewed a third party report already estimating over a billion barrels of un-risked resource potential out of a single identified structure. The Duma partnership allows us to move aggressively towards our ultimate goal, to make a major…