SOURCE: Hybrid Energy Holdings, Inc.

September 01, 2010 08:30 ET

Hybrid Energy to Profitably Divest Its Energy Production Assets as Part of Transition to Heavy Oil Technology

RENO, NV--(Marketwire - September 1, 2010) - Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today it plans to profitably divest its energy production assets as part of its transition to heavy oil recovery technology.

Due to a significant and continuing downturn in the USA economy and its energy markets, absence of capital for natural gas projects combined with contentious and unresponsive parties within its natural gas operations, the Company will divest its natural gas assets. 

The Company executed a Purchase Agreement to acquire its Natural Gas holdings and will seek to restructure the agreement in such a way to profitably sell or divest these energy holdings. 

The Company remains focused to its commitment of long term profitability and shareholder value. The Company believes the divestiture and strategic re-alignment critical to ongoing revenue and profits.

The Company will soon file its complete consolidated financial statements as part of its ongoing disclosure practices and provide updated information to all shareholders. Alongside recent changes to the Company's management team, the company will soon announce new offices and re-brand its corporate image and marketing presence to more closely reflect its new operations.

The Company believes its heavy oil extraction method increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company believes its Heavy Oil Extraction technologies will continue to grow in a market with no clear-cut extraction/production standard. The Company has recently announced it will focus operations and business development on the expansion and distribution of its heavy oil extraction technology.

The Heavy Oil Industry, currently a $155 billion per year business, is set for substantial increases based on dwindling supply and increased demand. 

The Company believes Heavy Oil is an up and coming energy resource aggressively being sought as the world's energy demand increases. As technology continues to improve, this once costly energy source is quickly becoming a more viable alternative.

The Company earns revenues from the extraction and recovery of 'heavy oil' reserves from existing wells not in active production. 

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 filings contain various RISK FACTORS (and are incorporated on the Company's website "Investors" section by reference) and should be read before any investment decision.

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