Duma Finalizes Hydrocarb Energy Acquisition
December 16 2013 - 8:00AM
Business Wire
Duma to be renamed Hydrocarb Energy Corporation
Duma Energy Corp. (OTCQB: DUMA) announced today that effective
December 10, 2013, it has completed the acquisition of Hydrocarb
Corporation whereby 100% of all the outstanding stock of Hydrocarb
has been acquired by Duma. The combined company has an interim name
of Duma Hydrocarb Energy Corp. The current stock ticker will remain
the same pending approval of a new ticker.
The merger of the two entities creates an exploration and
production company with onshore and offshore oil and gas production
in the United States as well as a 90% working interest in a 5.3
million acre exploration concession in northern Namibia. Duma
Hydrocarb is in ongoing, active negotiations with several African
countries in the prolific East African Rift play, and holds a
comprehensive oil field services license approved by the Supreme
Petroleum Council of the UAE.
Pasquale Scaturro, Duma Hydrocarb’s CEO stated “Now that this
acquisition is finalized we plan to work aggressively to optimize
our domestic oil and gas production, continue exploration work on
our African assets and create an E&P company with tremendous
upside potential. We’re very excited about the future.”
Pasquale Scaturro, CEO elaborates further about Duma Hydrocarb
Energy Corp. in his live video interview in New York City with
www.FinancialBuzz.com . To view the full interview and corporate
overview of the company click
http://www.financialbuzz.com/financial-buzz-s-exclusive-interview-with-duma-hydrocarb-energy-corp-s-new-ceo-2013-12
About Duma Hydrocarb Energy
Duma Hydrocarb Energy Corporation is a publicly-traded Domestic
and International energy exploration and production company
targeting major under-explored oil and gas projects in emerging,
highly prospective regions of the world. With exploration
concessions in Africa, production in Galveston Bay, and Oil Field
Services in the United Arab Emirates, we maintain offices in
Houston, Texas, Abu Dhabi, UAE and Windhoek, Namibia.
For further information: www.duma.com and www.hydrocarb.com.
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Forward-looking Statements
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, which contain words such as "expect,"
"believe" or "plan," by their nature address matters that are, to
different degrees, uncertain. These uncertainties may cause actual
future events to be materially different than those expressed in
our forward-looking statements. We do not undertake to update our
forward-looking statements.
Duma Energy Corp.Pasquale Scaturro, CEO,
1-281-408-4880info@hydrocarb.com