Rabb will operate the leases and direct the work programs to maximize production revenues and profits from the acquired leases. When asked to comment, Mr. Rabb said, "I am very excited about the partnership with a company such as Hyperdynamics. This partnership will allow us to efficiently enhance production and fully develop the numerous leases and prospects we currently have and are looking to acquire in the near future"
Kent Watts, the Company's Chief Executive, stated that, "For the last several months, we have been working on this acquisition and expect to achieve previously established production goals, substantially strengthening our domestic operations. This is in line with our strategy to have our domestic operations support our West African exploration efforts."
Hyperdynamics Corp. 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.
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