HOUSTON, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Duma Energy Corp. (OTCBB:DUMA), is pleased to announce that the Board of Directors has appointed Pasquale V. Scaturro as Chief Executive Officer as of November 15, 2013.
Mr. Scaturro, previously President and Chief Operating Officer with Hydrocarb Energy Corporation of Houston, Texas, has over 34 years in Domestic U.S. and worldwide exploration and development of oil and gas.
Duma's BOD has also appointed Charles F. (Chuck) Dommer as President and Chief Operating Officer of the Company, effective October 27, 1013. Previously Vice-President of Exploration and Development with Hydrocarb Energy Corp, Mr. Dommer has over 36 years' experience in international oil and gas.
Industry veterans with comprehensive experience in all facets of oil and gas exploration and development, Mr. Scaturro and Mr. Dommer will be managing negotiations for a corporate merger of Duma Energy and Hydrocarb Energy. If completed as expected, the new company will include producing oil and gas assets in the Domestic US, high potential exploration concessions in the Republic of Namibia and oil and gas field services in Abu Dhabi, U.A.E. Management plans to optimize the Company's producing assets as well as build its international exploration potential for major discoveries in the near future.
Duma's Chairman, Kent Watts said, "We are truly excited about Mr. Scaturro and Mr. Dommer joining our management team and taking Duma to the next level. Pasquale and Chuck are two of the most experienced leaders in oil and gas. They both know what it takes to be successful. The future holds great potential, to say the least."
"We are moving quickly to finalize negotiations between Duma and Hydrocarb for the upcoming merger and are excited about our future," said Scaturro. "The combined assets of both companies will allow tremendous growth opportunities in all three phases of the oil and gas industry; exploration, development and oil field services."
About Duma Energy
Duma Energy Corp. (OTCBB:DUMA) is an aggressive growth oil and gas exploration and production company with production assets in the onshore and offshore United States. Duma works toward increasing revenue and reserves while pursuing high-impact acquisitions in international exploration projects with the potential to provide exponential returns for its shareholders. For further information: www.duma.com.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
CONTACT: Duma Investor Relations Investor Awareness, Inc. Tony Schor, 847-945-2222 www.InvestorAwareness.com
Source:Duma Energy Corp.