Hydrocarb Receives Final Results of Owambo Gravity and Magnetics Survey
April 23 2014 - 9:30AM
Business Wire
Numerous Leads identified on Final Report
Hydrocarb Energy Corporation (OTCQB:HECC) today announced that
it has received the final comprehensive report on its recently
acquired high-resolution aerial gravity and magnetics survey flown
over its Owambo Basin exploration concession in Northern
Namibia.
The independent analysis and interpretation has indicated the
existence of up to 16 additional structural leads in blocks 1714A,
1715, 1814B, and 1815A. The company intends to delineate these new
leads with the acquisition of approximately 750 kms of modern
2-dimensional seismic data. Permitting and environmental assessment
operations for the upcoming seismic program have been
commenced.
Chuck Dommer, Hydrocarb’s President, stated, “The results of our
recently flown aerial gravity and magnetics program are extremely
encouraging and have given us numerous additional structural leads
that we plan on detailing with modern seismic data. Since only 15%
of our concession is currently covered by legacy 2D seismic we
could have several more high potential structural prospects that
would give us additional oil resources.”
Hydrocarb Energy holds a 90% working interest in the highly
prospective Owambo Basin concession in northern Namibia with
Namcor, the Namibian National Oil Company, holding the remaining
10%. Extensive geologic field studies have were completed last year
proving the existence of excellent high-porosity reservoir rocks as
well as soil sampling indicating the presence of crude oil derived
from a carbonate source.
About Hydrocarb Energy
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.hydrocarb.com.
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.
Hydrocarb Energy Corp.Chuck Dommer,
1-713-970-1590Presidentinfo@hydrocarb.com