OilVoice - Hyperdynamics to Sell its Working Interest in Louisiana Oil and Gas Leases

Hyperdynamics to Sell its Working Interest in Louisiana Oil and Gas Leases

Friday, April 03, 2009

Hyperdynamics Corporation announced that after a few months of negotiations the company has now signed a definitive agreement with Rabb Resources Limited, to sell 100% of its 85% working interest in all its producing properties located in Northeast Louisiana. Rabb Resources is related party to the Operator of the leases, Rabb Contracting LLC. Under the deal 100% of the company’s 85% working interest in all its Louisiana leases is to be assigned for cash consideration totaling $2,670,000, to be paid between now and November 2009.

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