Unlike typical energy exploration and production companies, Houston's Duma Energy Corp. is based on far more than hopes for a successful well. The company has a growing list of assets in both the U.S. and overseas, with expanding income and proven reserves necessary to sustain the company for the long haul.
• Duma's key productive interests are located in the shallow waters in Galveston Bay and Trinity Bay comfortably near Houston. It also has interests in wells and sites in two other parts of Texas, as well as in Louisiana and Illinois.
• The company produced 38,000 barrels of oil equivalent (boe) in fiscal 2011, and has already produced over 45,000 boe in the first half of fiscal 2012, with recent year-over-year revenue growth exceeding 500%. Operating margins, now near 50%, are improving as new wells and production increase efficiencies.
• Duma has $77.7 million in proven reserves (discounted), with less than $12 million booked reserves.
• The company has a time-tested team leading it, with most of the invested capital coming directly from the CEO and insiders. As such, the company targets only industry standard and proven technologies, carefully avoiding risky plays that depend upon high commodity prices.
• In addition to productive and promising projects in the U.S., Duma now holds a working interest in a petroleum concession of approximately 5.3 million acres in the southwestern African nation of Namibia. The concession is located in the Owambo Basin, a huge area that extends across the northern border into Angola, one of Africa's major oil producing countries. As part of the company's strategy, overseas exploration efforts are well-funded through its ongoing and stable domestic production operations in the U.S.
In summary, Duma has growing revenue, cash flow, and a solid pipeline of prospects.
For additional information on Duma Energy, visit the company's website at www.DUMA.com
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