DUMA: Another positive test in Namibia. Potential
exists for over a billion dollars of reserves
DUMA ENERGY CP (DUMA): Free Stock Analysis
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By Ian Gilson, CFA
Hydrocarb Energy has released more details of the field outcrop
study (mentioned below) done in the Namibia concession, in which
Duma Energy (
has a 39% working interest.
The study has indicated significant porosity and the presence of
degraded crude oil. These studies indicate excellent porosity
within the carbonate reservoir of the Huttenberg Formation. High
porosity suggest that oil extraction costs would be low,
depending on the pressure at the well.
Hydrocarb Energy estimates that the Oponono Prospect could
include between 1.1 billion barrels (10% probability) and 235
million (90% probability) if oil is present.
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