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Hydrocarb Energy Corp. (fka HECCQ) RSS Feed

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DUMA Energy


800 Gessner
Suite 200
Houston, Tx. 77024
Phone: (281) 408-4880
Website: http://www.duma.com
Email: info@duma.com

Jeremy Driver CEO, President
Steven L. Carter COO, VP, Ops.
Sarah Berel-Harrop CFO, Secretary, Treasurer

Contact Mission IR
Mission Investor Relations
Mission IR DUMA Information Sheet
http://www.duma.com/_templates/2/source/duma-logo.jpg

 
.
.
Market Value1 $29,351,017 a/o Jul 25, 2013
Shares Outstanding 13,281,003 a/o Jun 14, 2013
Float Not Available
Authorized Shares 500,000,000 a/o May 01, 2012
.
Latest Report Apr 30, 2013 10-Q
CIK 0001425808
Fiscal Year End 7/31
OTC Marketplace OTCQB

Duma Energy Corp. (OTCBB: DUMA) is an aggressive growth company actively producing oil and gas in the domestic United States, both on and offshore. Duma plans to continue increasing its domestic revenues and cash flow to fuel its aggressive growth through acquisition and participation in high impact international projects that have the potential to make exponential returns for our shareholders. Towards this goal, the Company acquired a 39% interest in a 5.3 million acre concession in the Republic of Namibia. This acreage position is larger than the state of Massachusetts.

Duma began in 2005 and initiated trading publicly on the OTCBB in 2009 via registration. In 2006, the Company began producing its first properties in Texas and soon after added production in Louisiana. In late 2009, the Company hired Jeremy G. Driver as its new CEO and President. Mr. Driver had formally run the domestic oil operations for the Hyperdynamics Corporation (NYSE:HDY).  Within 1 year, Mr. Driver had identified and negotiated an acquisition that would fundamentally reshape Duma Energy. The acquisition of Galveston Bay Energy, LLC was completed in February 2011.  This acquisition was made possible by the large direct cash investment by Mr. Driver and his family. 

In March 2012, the company changed its name from Strategic American Oil Corp. to Duma Energy Corp. in order to enhance its expanded vision.

http://www.duma.com/_templates/2/source/btn_powerpoint-over.jpg
http://www.duma.com/_templates/2/source/btn_fact_sheet-over.jpg
http://www.duma.com/_templates/2/source/btn_gallery-over.jpg

Key Investment Highlights

  • 75% of invested capital directly from CEO and insiders
  • Revenue in each of the last two years has more than doubled
  • Existing assets to generate cash and fund continued growth
  • Most recent year-over-year revenue growth rate of 540%
  • More than doubled oil and gas production in the last two years
  • nvests for strong financial returns, not just barrels of oil
  • Not bound to any geographical location or operational strategy

Strategic Growth

  • Pursue additional acquisitions and merger opportunities to generate exponential growth potential and increase shareholder value
  • Seek-out and consider high-potential international projects with significant returns
  • Continue to grow revenue, maximize cash flow and profits, maintain tight controls, and leverage existing assets to generate cash and fund continued growth
  • Provide better visibility, liquidity, and stability to shareholders and financial partners by pursuing listing on major U.S. exchange(s)
  • Increase production beyond 1,000 boe/daily within 12 months; achieve 2,500 boe/daily within 24 months
  • Add reserves by continuing active drilling program
Projects

Projects
http://www.duma.com/_resources/images/Galveston-Bay-3.jpg.  .http://www.duma.com/_resources/images/Galveston-Bay-1.jpg

Galveston Bay

The 4 fields located in the shallow waters of Galveston Bay and Trinity Bay (located North of Galveston Island) were purchased by the company in February 2011. The majority of these fields were originally developed and the facilities built by Exxon. Production from the fields is focused almost entirely on the Frio interval which has been the most prolific in the region. The company also operates several offshore production and processing platforms as well as pipelines that carry the produced gas and liquids to shore-based production and processing facilities where they are either disposed of or sold. Currently, the fields are receiving a full geological and engineering analysis to determine future projects including, reworks, recompletions, plugging, offsets, and potential new drilling locations. A new well was recently drilled in the Fishers Reef Field, Trinity Bay and is currently awaiting completion.

Depth Range: 8,000-10,000 feet

Average Working Interest: 90%

Average NRI: 70%

Operator: Galveston Bay Energy LLC (wholly owned subsidiary of Duma Energy Corp.)

Welder Ranch, Texas

The Welder Ranch property is operated by Carter E&P, a private Texas operating company owned by Vice President Steven Carter. The property has been a productive asset of the company since 2006. In late 2011, production and cash flow were increased through a recompletion operation to the Patrick Welder #5 well.

Depth Range: 5,000-8,000 feet Working Interest: 100%
NRI: 75%
Operator: Carter E&P, LLC (company owned and operated by the VP, Steven Carter)

Janssen, Texas

Non-operated

Depth Range: 3,000-11,700 feet
Working Interest: 3.0%
NRI: 2.25%
Operator: Rockwell Energy

Markham City North Field, Illinois

Duma Energy's team of geologists and engineers identified and developed the Markham City North project. The project was marketed to potential operators and financial partners with experience in the Illinois Basin. Core Minerals decided to become the operator and invest a minimum of $1.35 million into the development and testing of the field. Duma Energy is carried for 10% working interest until Core has recouped their initial $1.35 million investment. After that milestone is achieved, the interest rises to 25% and costs will be shared. Currently, the field is in the early phase of the pilot waterflood testing.

Depth Range: 2,000-4,000 feet
Working Interest: 10% carried (will rise to 25% upon cost recovery by operator)
NRI: 8.2%
Operator: Core Minerals



International Projects

Republic of Namibia, Africa

Duma Energy recently acquired as a wholly owned subsidiary Namibia Exploration, Inc. (NEI), through which Duma Energy now holds 39% of a 5.3 million-acre onshore petroleum concession in the Republic of Namibia. The concession is located in the Owambo Basin, a large African cratonic basin situated in the northern part of Namibia. The Owambo Basin appears to contain the major elements required to produce a major petroleum system: source rock, reservoir rock, reservoir trap, and reservoir seal.


Breaking News!
DUMA news October 16, 2013

Duma Completes First Well in Galveston Bay Multi-Well Development Program

89 Barrel a day increase on just one well!

Duma Energy Corp. (OTCBB:DUMA) announced today that it has successfully started production from the first project in its 18-well development program in Galveston Bay, Texas. The Trinity Bay State Unit #37 is currently flowing an average of 89 barrels of oil per day (bopd). At current oil prices and production rate, this will realize Duma more than $2 million in additional annual revenue.

Jeremy G. Driver, Duma's Chief Executive Officer stated, "We are extremely pleased with the recent results in Galveston Bay. At current production rates, the first Trinity Bay project will pay out in only 24 days, allowing us to quicken the pace of additional projects. Our plans are to pursue this strategy as we continue to explore for billion-barrel potential in our 5.3 million acre concession in Namibia and elsewhere."
 

 



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