Duma Energy Corp. (OTCBB: DUMA) is an aggressive growth company actively producing oil and gas in the domestic United States, both on and offshore. Duma plans to continue increasing its domestic revenues and cash flow to fuel its aggressive growth through acquisition and participation in high impact international projects that have the potential to make exponential returns for our shareholders. Towards this goal, the Company acquired a 39% interest in a 5.3 million acre concession in the Republic of Namibia. This acreage position is larger than the state of Massachusetts.
Duma began in 2005 and initiated trading publicly on the OTCBB in 2009 via registration. In 2006, the Company began producing its first properties in Texas and soon after added production in Louisiana. In late 2009, the Company hired Jeremy G. Driver as its new CEO and President. Mr. Driver had formally run the domestic oil operations for the Hyperdynamics Corporation (NYSE:HDY). Within 1 year, Mr. Driver had identified and negotiated an acquisition that would fundamentally reshape Duma Energy. The acquisition of Galveston Bay Energy, LLC was completed in February 2011. This acquisition was made possible by the large direct cash investment by Mr. Driver and his family.
In March 2012, the company changed its name from Strategic American Oil Corp. to Duma Energy Corp. in order to enhance its expanded vision.