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Former Texaco Executive Robert A. Solberg Elected New Non-Executive Chairman of Hyperdynamics Corporation
Press Release
Source: Hyperdynamics Corporation
On Friday August 28, 2009, 6:00 am EDT
SUGAR LAND, Texas, Aug. 28 /PRNewswire-FirstCall/ -- Hyperdynamics Corporation (NYSE Amex: HDY) today announced that its Board of Directors has elected veteran oilman Robert A. Solberg as its new non-executive chairman, succeeding Kent Watts.
Solberg is a retired career senior executive of Texaco Inc., where he served as president of Worldwide E&P Development from 1998 until his retirement in 2002. Earlier he held senior management roles for Texaco's U.S. operations, followed by division president roles in Europe, Asia, and the Middle East.
Ray Leonard, Hyperdynamics' chief executive officer, stated, "Bob's appointment is a watershed event for the Company and strengthens our Board immensely. His vast experience in the global management of oil and gas assets is well respected and acknowledged across the industry. His decision to join Hyperdynamics after careful evaluation of the asset and the Company's strategy reflects well on the Company."
Solberg is currently non-executive chairman of both Scorpion Offshore, an offshore drilling contractor that made an initial public offering on the Oslo Exchange in 2005, and JDR Cable Systems, which supplies custom cable and subsea connection equipment for the offshore oil & gas industry.
Solberg is a licensed petroleum engineer and holds a Bachelor of Science degree in Civil Engineering from the University of North Dakota.
Solberg added, "I am very excited to be joining the new management team and board members at Hyperdynamics. Ray has impressed us with his strategic plans, and I look forward to helping develop this world class asset in Guinea."
Watts remains a valued member of the Board of Directors and a major stockholder in Hyperdynamics.
About Hyperdynamics
Hyperdynamics Corporation is committed to providing energy for the future by exploring internationally for new sources of oil and gas. It holds the largest exploration license in the West African Republic of Guinea covering approximately 31,000 square miles. To find out more about Hyperdynamics, visit its website at www.hyperdynamics.com.
