Mr. Leonard is going through this exercise of applying for the extension to keep the HDYN corporation as a viable business entity. Without the extension there is no Guinea concession and without this, HDYN corporation has no assets.
As we have seen Total has optioned the northern half of the Guinean waters for 1 year to evaluate the exploration potential at which time they can exercise their option to acquire 3 blocks in exchange for a work program. There is not enough time for Total to contract a boat, plan a seismic survey, acquire seismic data and process it, and then interpret the data in one year. Obviously they are receiving the HDYN 2D and 3D seismic data and well data.
This means ROG will supply the seismic data and HDYN will not be selling any data.
So without the concession I do not believe HDYN corporation will survive. Ray may keep the company records in his garage. I doubt he has a basement here in Houston.
So hopefully HDYN will be granted the extension. What they accomplish with the extension remains to be seen.