Hyperdynamics Corp. said that it has been voted in as the 37th member of the Central and Southern Africa Oil Industry Forum. The Forum is an association of oil and gas Exploration and Production companies that all explore for oil and gas and most of which have interests in producing properties in sub-Saharan Africa. The group is coordinated by ExxonMobil. Other notable members include Tullow Oil, Premier Oil, Anadarko Petroleum, Woodside Petroleum, Total, and Shell.
The Forum's purpose is to report on ongoing and new ventures in sub-Saharan Africa with the goal of helping members to stay informed regarding the opportunities available and the activities in progress in the region. Membership in the Forum is by invitation only and new members must be approved by member vote. At the November luncheon Hyperdynamics' Executive Vice President, Harry Briers, made a brief presentation about Hyperdynamics' offshore Guinea concession. Mr. Briers informed the members of a planned study group which will lead to the Farmout bid round that is being orchestrated by GeoExperts. After the presentation, the Forum members voted in favor of Hyperdynamics' membership.
"The interest in our Guinea concession is building rapidly," said Kent Watts, the Company's Chief Executive. "We recognize the members of this forum are among the elite new venture managers in the oil business. We are honored to now be a part of them."
John Burton, Founder and Managing Director of GeoExperts, said, "As I have previously stated, this is one of the most exciting exploration opportunities in the world today. We have been charged to help Hyperdynamics maximize the potential of this project and that is what we plan to do. We currently have plans to have the Guinea marketing material out before month end and the full package completed by year's end."
Hyperdynamics Corporation explores for and develops new and re developing residual sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit significant acreage offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas.