HYBE.. NEWS still not reflecting
Hybrid Energy Holdings Announces Significant Expansion of Current Acquisition Portfolio Adding $175,000,000 in Proven [KCWKGSG]
RENO, NV, Feb 03 (MARKET WIRE) --
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today
significant additions to its current acquisition portfolio.
The operations under acquisition span 9 properties and consistently
deliver profitably with strong recurring current and historical
cash-flows. This important expansion of the company's portfolio results
in 35,000,000 BCF of known reserves and delivers an estimated $30,000,000
of shareholder value in active reserves and an additional estimated
$145,000,000 in yet untapped reserves of current properties.
The equity-based transaction calls for the issuance of preferred stock at
a strike value of approximately $6.9 million and delivers immediate
profitability with actively productive, reliable properties and an
estimated $175,000,000 in down-hole proven reserves value.
The parties agreed to a new closing date for the expanded acquisitions to
be the 15th of February 2010. Full financial disclosure will be timely
filed with the OTC Disclosure service immediately subsequent to Closing.
The company will not perform a reverse-split or change its capitalization
structure as part of this transaction.
About Hybrid Energy Holdings
Hybrid Energy Holdings (HEH) acquires and operates profitable energy
companies with strong historical cash-flow and sustainable profitability.
HEH may acquire promising nascent energy technology or technology rights
as portfolio enhancing assets. HEH's acquisitions are focused primarily on
traditional and proven fuel production and the latest in energy
conservation and power co-generation technologies. HEH's fuel production
acquisitions provide expertise in the recovery of oil and gas reserves in
both mature and marginal fields. The company's operational teams deliver
production improvements and developmental and low risk exploration as
part of its acquisition strategy for its fuel producing subsidiaries.
HEH's primary business strategy is the acquisition of diverse, profitable
energy related assets that provide synergistic profits and revenue
enhancements across all portfolio companies.
