Friday, April 20, 2007

[FOG News] Reminder: American Friends of Guinea is NOT Friends of Guinea

I've noted on this blog on a couple of occasions on the apparent creation of a new non-governmental organization called American Friends of Guinea (AFG) and how it's NOT AFFILIATED IN ANY WAY with our group Friends of Guinea (FOG). AFG was created last year by the CEO of Hyperdynamics Corp. FOG was founded in 2000.

Some board members noticed a recent story regarding Hyperdynamics. After initiating a review of all natural resource exploitation contracts, the new Guinean government said it was withdrawing an agreement with the Texas-based corporation.

[T]he government said the fact the U.S. company had been given rights to explore one-third of Guinea's entire offshore acreage did not conform to international practice. The normal practice was to award smaller blocks, it added, according to Reuters.

The government added that the Hyperdynamics contract would be reviewed by legislators.

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