Duma Energy begins gravity magnetics survey in Namibia

7/9/2013

Duma Energy begins gravity magnetics survey in Namibia

HOUSTON -- Duma Energy has announced the start of a high-resolution gravity and magnetics survey over its exploration concession in the Owambo Basin in northern Namibia. The survey will be flown by UK-based Bridgeporth, and will cover Blocks 1714A, 1715, 1814A, 1815A. The 21,200-sq-km (5.3-million-acre) concession extends from the northern border of Etosha Park to Angola, an area approximately the size of Massachusetts.

Less than 15% of the concession is covered by a vintage (1960-90) 2D dataset. The survey will be flown at much higher spatial resolution than previous surveys, enabling Duma and its partner, Hydrocarb Energy, to delineate the structural setting and depth to basement model of the Owambo Basin with more accuracy. A regional modern 2D seismic data grid will be acquired the first half of next year.

Hydrocarb signed a petroleum agreement in 2011 with Namibia and, in August 2012, Duma farmed in as a 39% working interest partner. With an initial exploration period of four years, this work puts the exploration objectives ahead of schedule.

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