HOUSTON, June 18, 2012 (GLOBE NEWSWIRE) -- Duma Energy Corp. (DUMA) has announced its fiscal third quarter financial and operational results for the quarter ending April 30, 2012 have been filed with the SEC.
Third Quarter Financial and Operational Highlights Include:
- Positive earnings of $73,088 as compared to a loss in the second quarter of ($290,000)
- Revenue for the quarter was $1.88mm, a modest increase from the previous quarter.
- Successfully drilling and completion of Palacios #1 in South Texas.
- Completion operations underway for ST9-12A #4 in Fishers Reef Field, Galveston Bay.
"Our goal of achieving positive earnings was a challenging one, but we have achieved it in this quarter. We are not stopping though. We have many wells yet to bring online in Galveston Bay and Trinity Bay and we have numerous drilling projects being developed by our geological team. I am fully expecting that the remainder of calendar 2012 will be a busy year for us," said Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation.
About Duma Energy Corp.
Duma Energy Corp. (DUMA) is an aggressive growth company actively producing oil and gas in the continental United States, both on and offshore. Duma Energy will continue increasing revenue, cash flow, and reserves to fund its aggressive growth through acquisition and participation in projects with the potential of providing exponential returns for shareholders. Further information can be found on the Company's website at www.duma.com.
Forward-looking Statements
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.