Duma Energy is an aggressive growth company actively producing oil and gas in the U.S., both on and offshore. The company currently has major operations in Texas, with additional operational interests in Illinois and Louisiana. Duma plans to continue increasing its revenue, cash flow, and reserves to fund its growth through acquisition and participation in projects with the potential of providing exponential returns for shareholders. Specifically, the company plans to do the following:
Seek additional acquisitions
Consider international projects with unique opportunities for high returns
Leverage growing revenue, cash flow, and reserves, to fund overall growth strategy
Besides its Texas projects, Duma's geologists and engineers identified and developed the Markham City North project in Illinois, and subsequently marketed it to potential operators and financial partners with experience in the Illinois Basin. Core Minerals eventually accepted the role of operator, with a $1.35 million investment. The field is currently undergoing pilot waterflood testing. Duma also owns passive royalty in 2 fields in Louisiana, operated by ETG Energy (Tradestar), producing oil, with no significant gas.
In addition to domestic operations, Duma is pursuing acquisition of a private company with significant interests in an African concession totaling approximately 6 million acres.
The success of Duma's aggressive yet careful approach, focusing on proven sites and technologies, is seen in their production numbers. The company expects to be producing at least 1,000 boe per day gross by the end of 2012, and 2,500 boe per day by the end of 2013.
For additional information, visit the company's website at www.DUMA.com
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