Hyperdynamics to Add World Renowned Exploration and Production Experience
Posted on: Wednesday, 17 October 2007, 09:00 CDT
Hyperdynamics Corporation (AMEX:HDY) announced today that its Board of Directors has decided to add world renowned oil and gas exploration and production (E & P) experience to its board and corporate management team. Historically, the Company has had top level talent continuously working on its exploration efforts since 2002. While key professional service relationships will be maintained and enhanced going forward, it is now making the additional commitment to bring its core E & P management in-house. Moving forward, the enhanced technical leadership will execute the mission to accelerate the exploration programs for its oil and gas concession offshore the Republic of Guinea, West Africa.
Kent Watts, Hyperdynamics' Chairman and Chief Executive commented that, "This decision will help us to accelerate our timelines for exploration, retain more value, and maximize returns for our shareholders as we move forward." Mr. Watts further stated, "The price of oil has steadily climbed the last few years and exploration efforts worldwide are being complicated by a shortage of experienced energy professionals. Such as the situation may be, we feel our opportunity will successfully attract the best talent in the industry."
Hyperdynamics' management expects to give regular updates of its progress regarding implementation of this decision and is asking shareholders to stay abreast of its filings and news.
About Hyperdynamics
Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about -Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com.
Forward Looking Statements
Statements in this news release are "forward looking" as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to "Risk Factors" in the company's Form 10-K filed with the SEC.
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HDY-IR
Source: Business Wire
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