Duma plans acquisition, appoints new leaders

Duma Energy Corp., as part of its plan to acquire Hydrocarb Energy Corp., has named Pasquale Scaturro as its new CEO. Scaturro was previously Hydrocarb’s president and CEO. Additionally, Charles Dommer, previously Hydrocarb’s vice president of exploration and development, has been appointed Duma’s president and COO.

Hydrocarb founder Kent Watts was elected chairman of Duma’s board of directors in October. Jeremy Driver, who has served as Duma’s CEO, will move into an executive vice president role, where he will manage internal relations and acquisitions.

Duma plans to purchase all of Hydrocarb's outstanding shares. In August 2012, Duma purchased a 39% working interest in Hydrocarb’s highly prospective 5.3 million acre Owambo Basin concession in northern Namibia.



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