Hydrocarb Energy Corp. announced in a press release that it has retained Netherland Sewell and Associates to update its oil and gas resource estimate for the company’s exploration concession in the Owambo basin in northern Namibia.

Netherland Sewell will assess the hydrocarbon potential of the company’s 21,300-sq-km (8,224-sq-mile) concession encompassing blocks 1714A, 1715, 1814B, and 1815A, adjacent to the Angola border, according to the release.

To date, extensive geologic field studies have been completed proving the existence of excellent high-porosity reservoir rocks as well as the presence of crude oil derived from a carbonate source. Hydrocarb is finalizing a concession-wide, high-resolution aerial gravity and magnetics program in preparation for planned acquisition of a regional 2-D seismic program to be acquired in 2014, the company said in the release.

Hydrocarb is the operator of the concession along with partners Duma Energy Corp., which holds a 39% interest, and Namibian government-owned Namcor, which holds a 10% carried interest.