SOURCE: Hybrid Energy Holdings, Inc.

March 03, 2010 09:30 ET

Hybrid Energy Joins BP and Major Oil Companies in Expanding Texas Natural Gas Reach as Part of Clean Energy Initiative

RENO, NV--(Marketwire - March 3, 2010) - Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) cites recent reports that BP will expand its position in the U.S. natural gas business and by entering a fast-emerging field in South Texas. The deal would be the latest in a string of similar moves by major energy companies to enter or expand in the Natural Gas production market, particularly in Texas. Hybrid Energy's energy production properties are situated in South Texas alongside its other contemplated portfolio additions.

Under the deal, BP will take a 50 percent stake in 80,000 acres of the Eagle Ford Shale play and is acquiring additional acreage in smaller pending deals. BP officials are expected to announce the venture in London at BP's annual strategy presentation to investors and analysts.

Oil companies seek to expand holdings of natural gas amid stricter environmental laws and forecasts that use of cleaner-burning fuel will grow in coming years. Hybrid Energy agrees with this strategy and applies it to its acquisitions. Hybrid's acquisitions have appreciated in value and remain profitable.

In December, Exxon Mobil Corp. said it would acquire Fort Worth's XTO Energy in a deal valued at $41 billion. A month later, France's Total agreed to pay $2.3 billion for 25 percent of Chesapeake Energy Corp.'s acreage in the Barnett Shale play in North Texas, and the companies said they may jointly develop acreage in the Eagle Ford Shale and in several Canadian natural gas plays. Royal Dutch Shell, Norway's Statoil and others have also completed large acquisitions for access to North American natural gas reserves, and so has BP.

Hybrid Energy Holdings recently acquired 9 energy proprieties in and around McAllen, Texas. The acquired operations are profitable with strong recurring current and historical cash-flows. This important expansion of the company's portfolio adds 35 Billion Cubic Feet, valued at $175,000,000 of known reserves.

Hybrid Energy continues its aggressive and profitable acquisition strategy of Natural Gas and Clean Energy holdings.

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.

HEH believes its combination of acquisition profitability and mitigated-risk funding structures provides ongoing portfolio viability and long-term shareholder equity appreciation.

The company maintains its web site at:

Safe-Harbor Statement
This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's disclosures contain various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.

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