Duma Energy Corp. (DUMA) Announces 1.1 Billion Barrel P10 Estimate for Namibia Concession

Duma Energy recently received additional results from Hydrocarb Energy regarding a recent field outcrop study on Duma’s 5.2-million-acre concession located in northern Namibia. Significant reservoir porosity, as well as the presence of degraded crude oil, have been indicated in final lab analyses.

Resource estimates conducted in-house at the structural Oponono Prospect range from 235 million (P90) to potentially 1.1 billion (P10) barrels of oil. P50 resources at Oponono Prospect have been estimated at 650 million barrels of oil. Further prospects have also been identified, including reefs and several structural traps.

Reservoir rock outcrop studies indicate good lateral extent, thickness, and porosity of target reservoir facies. Porosities in Huttenberg Formation, the primary carbonate reservoir objective, exceed 36 percent total porosity and range from 22 percent to 37 percent.

Both Duma Energy and Hydrocarb Energy are encouraged by results of the initial prospect evaluation. Oil from probable carbonate sources has been detected in soil samples that were collected at the previously drilled and tested Etosha 5-1A well; these were analyzed and identified by Weatherford Laboratories in Houston, Texas.

The concession blocks (1714A, 1715, 1814A, 1815A) are located in Owambo Basin, which is underexplored and highly prospective. Owambo Basin is operated by Hydrocarb Energy and held with partners Duma Energy, with a 39 percent working interest, and Namcor, with a 10 percent working interest.

Hydrocarb believes the Owambo Basin has all the components to become a major new hydrocarbon province. The company has discovered several new prospects there, and significant progress has been made toward identifying source and reservoir rocks. Hydrocarb is moving forward with an aggressive work program, which includes an airborne magnetic and gravity survey as well as the planning of new two-dimensional seismic data.

These developments mark another milestone for Duma Energy’s 5.3 million acre concession in the Republic of Namibia, which increasingly appears to have the potential to add significant value to Duma and its shareholders.

Duma Energy is an aggressive growth company actively producing oil and gas in the continental United States, both on and off shore. 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 while pursuing aggressive growth through acquisition and participation in projects with the potential to provide exponential returns for shareholders.

For more information, visit www.duma.com

About MissionIR 

MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.

Sign up for “The Mission Report” at www.MissionIR.com

Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html