Hunt Oil Signs Exploration Contract in Namibia

Hunt Oil Company, through its wholly owned subsidiary Namibia Hunt Oil Company, signed a Petroleum Agreement today with the Republic of Namibia. The agreement gives Hunt the right to carry out petroleum exploration and production operations in Luderitz Basin Offshore Area Namibia in partnership with NAMCOR, the state oil company.

The agreement covers approximately 38,322 square kilometers (approximately 9,500,000 acres) in the Luderitz Basin Offshore Area.

Namibia Hunt Oil Company is a wholly owned subsidiary of Hunt Oil Company,a privately held independent oil and gas firm based in Dallas, Texas, led by Ray L. Hunt.