"We believe that farming out an additional share of the project to an experienced deep water operator is the best way to maximize shareholder value going forward," he said. "Such a transaction should make available additional capital that would be helpful to continue our exploration program for the basin," Leonard added.
MHO: Ray wants capital to be able to operate HDY's own drilling operation, independent of other operators. He is still more of a geologist that wants to find oil, than a CEO that is trying to make a buck through a business deal.
Sorry about all of the blue, I can't get it turned off. I should have used green!