Hydrocarb Energy Corp (OTCBB:HECC)
Hydrocarb Energy Corp (OTCBB:HECC) is moving lower in late exchanging after a surge upwards toward the start of the year.
The ticker has been around for a considerable length of time experiencing 2 reverse stock parts and the same number of name changes including Strategic American Oil Corp until April 2012 and Duma Energy Corp until February 2014 preceding transforming it to Hydrocarb Energy Corp.
Hydrocarb Energy Corporation is a publicly-traded Domestic and International Energy Exploration and Production Company targeting major under-explored oil and gas projects in emerging, highly prospective regions of the world. With exploration concessions in Africa, production in Galveston Bay, and Oil Field Services in the United Arab Emirates, we maintain offices in Houston, Texas, Abu Dhabi, UAE and Windhoek, Namibia.
The company has outstanding shares around 26,066,191, while authorized shares are standing around 1,000,000,000.
Galveston Bay, Gulf Coast, Texas: Hydrocarb has 18,850 sections of land Held by Production (HBP) and a few investigation ventures being developed in the Bay, 90 wellbores presently under specialized assessment for potential workovers, and 15 Frio skylines to be re-assessed.
Furthermore, in 2015, HECC’s store substitution proportion, a key measure of development for financial specialists, was more than 1800% (18.9:1) for oil and more than 4100% (41.1:1) for gas. Stores were assessed by petroleum engineers R.E. Davis and Associates utilizing SEC rules.
On December 3 HECC announced Mr. Robert M. Harrell has joined the company’s Board of Directors as the second independent director effective November 23, 2015. The company previously disclosed the appointment of Mr. Harrell in its Current Report on Form 8-K filed with the Securities and Exchange Commission on November 23, 2015. Now with two out of three directors being deemed independent, the company has a majority independent board.