Hyperdynamics Heads to Guinea to Strengthen Ties
Hyperdynamics Corporation announced that in response to an official letter of invitation, signed by The Republic of Guinea's Prime Minister, Dr. Ahmed Tidiane Souare, the company is preparing a trip to Guinea before the end of this month in order to update the new Government on the past work and future plans for the 2006 Production Sharing Contract.
As a former Minister of Mines and Geology, Prime Minister Souare was directly involved in initiating proceedings and negotiations in 2005 and 2006 that led to the signing of the Production Sharing Contract between SCS Corporation, Hyperdynamics' wholly owned subsidiary, and the Republic of Guinea.
In a letter of invitation received by Mr. Watts on June 24, 2008, the Prime Minister wrote, "...I note your firm determination to work with my government in implementing its economic and social program. I thank you while hoping that this opportunity will materialize as soon as possible. Without any doubt, the Guinean Government is prepared to collaborate with your company in a constructive spirit to the benefit of both parties. In this regard, I wish to personally invite you to come to Guinea in order to provide more extensive information concerning the work already performed within the framework of the contract signed in 2006, as well as the timeline for future work."
Kent Watts commented, "Guinea's leadership realizes that making a commercially viable hydrocarbon discovery will positively impact Guinea economically and socially. We will soon reveal more details about this upcoming trip. We are planning at a minimum that our Executive VP of Exploration and Production, Mr. James Spear and I will travel to Conakry and give the new government a detailed briefing of our exploration progress and future work plans which include an upcoming 3-D seismic survey. This will be the first in history for Guinea and will soon lead to drilling exploration wells that have great potential to make a world class discovery."