Duma Energy is an aggressively growing oil and gas exploration company, with operations in Texas, Louisiana, and Illinois. The company's management team is focused on developing its existing portfolio while pursuing additional opportunities that provide rapid growth, leveraging growing revenue, cash flow, and reserves to accelerate its growth strategy.
Texas - Duma has a working interest in three projects:
100% working interest in the Welder Ranch project in south Texas
Operated by Carter E&P, a private Texas operating company owned by Duma's Vice President Steven Carter, the Welder Ranch property has been a productive asset of the company since 2006. In late 2011, production and cash flow were increased through a recompletion operation to the Patrick Welder #5 well.
90% working interest in the Galveston Bay project, located in shallow waters North of Galveston Island
Consisting of 4 fields located in the waters of Galveston Bay and Trinity Bay, production is focused on the Frio interval, which has been the most prolific in the region. Currently, the fields are receiving a full geological and engineering analysis to determine future projects including reworks, recompletions, plugging, offsets, and potential new drilling locations. A new well was recently drilled in the Fishers Reef Field of Trinity Bay and is currently awaiting completion.
3% working interest in the Janssen project in south central Texas
The site is operated by Rockwell Energy, with a depth range of 3,000 to 11,700 feet.
Illinois - Duma has 10% working interest, rising to 25% upon cost recovery by operator, in the Markham City North field in southern Illinois. Core Minerals is the operator, having invested a minimum of $1.35 million into the development and testing of the field. Currently, the field is in the early phase of the pilot waterflood testing.
Louisiana - Duma has 6% royalty interest in 2 fields in northern Louisiana operated by an independent third party. The production is predominantly oil, with no significant natural gas.
Duma, which recently announced that it has entered into the final stage of negotiations to acquire a private corporation with a significant interest in an African concession totaling approximately 6 million acres, already has domestic production projected to exceed 1,000 BOE (barrels of oil equivalent) per day by the end of 2012. By the end of 2013, production is expected to reach 2,500 BOE per day.
For additional information, visit the company's website at DUMA.com
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