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To
OTC Journal Members:
 |
HyperDynamics
(OTC BB: HYPD): Delivers Major Credibility Upgrade |
|
HyperDynamics is a favorite
of many OTC Journal Members- I can tell from the email traffic I
receive on the company. It's been quiet for the last couple of months,
but today's news could put a good deal of life back into the stock.
As a quick refresher course, HyperDynamics
owns the rights to explore the 10,000 square kilometer concession you see
pictured here off the West Coast of Africa. They have an ironclad arrangement
with the benign west African Republic of Guinea.
Late last year, HyperDynamics
completed 2D seismic studies of 4,000 kilometers within the concession,
and the early returns have the investment community buzzing about this
relatively unknown company. The seismic studies revealed the presence of
over 25 "gas seeps", which means oil and natural gas are literally bubbling
up from the ocean floor.
HyperDynamics had previously
hoped to drill the first test wells before the end of this year. The latest
seismic results might allow the company to go straight to a partnership
with a major oil company without the need for test wells.
The company plans to complete seismic
studies sometime over the summer, and take the entire project to the next
level before the end of the year.
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Harold
"Red" Poling Joins Board of Directors; Credibility Soars |
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Owning shares of HyperDynamics
is a highly speculative investment at this time. You are betting there
is exploitable oil and natural gas under the ocean floor in the concession
outlined on the map above. You are betting the company can identify where
the oil is, find a deep pockets partner, then drill and deliver. All of
this will take at least a couple more years, but the upside could be in
the billions quite easily, especially in light of skyrocketing oil prices
and America's desperate need to be less dependent on the Middle East.
In my mind, the potential credibility
of the project took a quantum leap today. Just after the market closed,
microcap company HyperDynamics announced Harold "Red" Poling
has agreed to take a seat on the Board of Directors.
Mr. Poling's resume defines
him as a titan of American Industry. Mr. Poling started as an accountant
with Ford Motor Company (NYSE: F) in 1951. He eventually became
the CEO of Ford Motor Company, and served as the Chairman
of the Board from 1990 to 1994 when he retired.
In addition, he has also served on
the boards of Shell Oil Company and Kellogg.
Currently, he is the Chairman of Eclipse Aviation Corporation, and
serves on the boards of many hospitals and charities. He is a past director
of the PGA, and a member of the most exclusive golf club in the world:
Augusta
National where the Masters is held every April.
If you are currently a shareholder
in HyperDynamics, it is time to put the stock certificate under
your pillow and forget about it. If the Guinea concession has the oil,
the current board has the contacts within the oil industry to get the right
partner.
We can speculate all day long as
to why Red Poling would become a board member of HyperDynamics.
Certainly, it is a much bigger event for HyperDynamics than it is
for Mr. Poling.
The stock has pulled back along with
the rest of the market despite the company's involvement in the oil industry.
The recent sell off eclipsed all groups- it was across the board. Many
microcaps have given back 50% of their value. This one is now poised for
another surge. This is great news to kick off June, which I hope will be
a much better month than either April of May.
In a long term speculative investment
in a company like HyperDynamics, clues come along which tip the
odds either for or against shareholders. Today's clue should help increase
the market's comfort level with the investment, and lend a lot of credibility
to the company.
Your odds for a big win here just
improved dramatically. Look for a sixth spiky run in the stock, just as
we have seen since five other times since I first covered the company at
$1.76
last September 20th.
Here is the complete text of today's
news release for your review:
| Press Release Source:
Hyperdynamics Corp.
Former Chairman and
CEO of Ford Motor Corp., Harold A. Poling, Joins Hyperdynamics Corp.'s
Board of Directors
Tuesday June 1, 4:00
pm ET
HOUSTON--(BUSINESS WIRE)--June
1, 2004--Hyperdynamics Corp. (OCTBB:HYPD) announced today that Harold A.
Poling has accepted their invitation to become the fourth member of its
board of directors. Poling, being the past chairman and CEO for Ford Motor
Corp. (NYSE:F - News), is expected to greatly enhance the company's corporate
governance capability as well as provide unprecedented experience and guidance.
When asked to comment,
Poling said, "I look forward to working with Kent and the other members
of the Hyperdynamics board. It's exciting to be associated with a company
that offers the possibility of having a means to mitigate the energy crisis."
Kent Watts, chairman
and CEO, stated, "Ever since my first meeting late last year with Mr. Poling,
I have been looking forward to this day. While he is obviously a great
business leader, more importantly to me, he is simply a great man. I personally
look forward to working with and learning from Mr. Poling while we move
forward, continuing to build shareholder value."
About Harold A. Poling
Poling is a former chairman
of the board and chief executive officer (CEO) of Ford Motor Co. Born in
Michigan, Poling grew up in Fairfax, Va., one of four children of an auto
mechanic and a nurse. No stranger to hard work, he had jobs at 12 cutting
and laying sod, as well as helping his father at his job. At 17, two weeks
after graduating from high school, he enlisted in the Navy. Later, after
finishing his MBA in accounting, he took a job with Ford in 1951. As head
of Ford of Europe, he guided the subsidiary to record earnings. He moved
to Ford's North American Operations prior to being named president and
chief operating officer, then vice chairman and chief operating officer,
and then chairman and CEO of Ford Motor Co., the world's second-largest
auto maker. He served as a member of their board of directors from May
10, 1979 until Jan. 1, 1994; and was elected chairman on March 1, 1990.
He became a member of the Office of the Chief Executive in November 1984.
He retired from Ford on Jan. 1, 1994.
Currently, Poling serves
as the chairman of The PGA Tournament Players Club of Michigan and is also
the chairman for Eclipse Aviation Corp. He is a director of Flint Ink Corp.,
Monmouth (Ill.) College Senate, and William Beaumont Hospital where he
is also a trustee. He is additionally a member of the board of trustees
of Spring Arbor University.
Poling has also served
on the boards of ArvinMeritor, Shell Oil Co., Kellogg and is a past director
of the Professional Golf Association's (PGA) Tour Policy Board.
About Hyperdynamics
Hyperdynamics uses integrated
information technology to help manage and invest in companies with substantial
potential for growth. Hyperdynamics' internationally active oil and gas
subsidiary, SCS Corp., owns rights to explore and exploit approximately
16 million acres of offshore territory off the coast of West Africa. Its
other subsidiary, HYD Resources Corp., focuses on domestic oil field services
and unique opportunities for participation in and drilling for domestic
production.
Safe Harbor Statement
under the Private Securities Litigation Reform Act of 1995: The statements
contained herein that are not historical are forward-looking statements
that are subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays beyond the company's control
with respect to market acceptance of new technologies or products, delays
in testing and evaluation of products, and other risks detailed from time
to time in the company filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Hyperdynamics Corp., Houston
Kent Watts, 713-353-9400
kent@hypd.com
or
Stock Enterprises Inc. (Investor Relations)
Jim Stock, 702-274-5400
stockenter@aol.com
--------------------------------------------------------------------------------
Source: Hyperdynamics
Corp. |
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