Strategic American Oil Corporation has changed its name to Duma Energy Corp. effective Wednesday. The name change is part of a larger effort and expanded corporate focus.
"The new broader mission of Duma Energy will be to continue development of its existing oil and gas assets in order to fuel high growth projects and acquisitions. The new mission envisions that our increasing revenues, cash flow, and reserves will be the engine driving our growth," said Jeremy G. Driver, Chairman and CEO of Duma Energy. He further stated that, "at this time we are focusing our search on opportunities that provide the potential for substantial risk-adjusted return on investment, both domestically and internationally. These corporate actions, along with our current efforts to create a majority independent board of directors, are designed to position Duma Energy for a senior listing in the future."
Additionally, the Company will be rolling out a new website, corporate presentation and fact sheet in the coming days.
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