Hess Corp T.HES.A

Looks like NR is coming

[Xcel]

Looks like you guys can expect news soon and my hunch is it will be positive. I might grab some

OPERATIONAL OVERVIEW AND HIGHLIGHTS

“HLT Energies is a provider of green and renewable energies.”

We thrive on the development and use of the latest technologies in order to optimally utilize green and

renewable energy sources, allowing us to offer savings and reliable solutions available worldwide to both

the commercial and residential sectors. HLT Energies is a key player in the improvement of

environmental, economic and social conditions.

We strive to be the Canadian reference for renewable and sustainable energy sources in commercial

applications, beginning with our flagship initiative, solar thermal energy. HLT is unique. We offer our

clients choice, simplicity, and peace of mind: our customers can either buy renewable energy, with HLT

taking all of the responsibility by owning and operating the system, or buy the complete equipment to

operate their own system.

HLT Energies is a leader in the production and sale of sustainable energy and systems, at competing cost

with conventional sources such as electricity, heating fuel, propane and natural gas, to residential,

commercial, industrial and institutional customers. HLT currently covers the Canadian solar thermal

market. Through its investment in EKOWATT S.A. and the purchase of the Fully Integrated Multi-

Energy Systems (F.I.M.E.S.) intellectual property, HLT also covers the solar photovoltaic (“Solar PV”)

market in Europe and is enabled to combine and manage various sources of clean energy, such as energy

generated by wind, solar photovoltaic (“Solar PV”), and/or hydraulic power plants for its clients.

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OPERATIONAL OVERVIEW AND HIGHLIGHTS (continued)

Creation of a joint venture

In September 2007, HLT entered into joint venture with Ecotech Finance, a holding company owned by

the Société Régionale d’Investissement de Wallonie (SRIW) specializing in environmental and renewable

energy investment, and with Watt Engineering, a Belgian company, to create EkoWatt, which will supply

equipment, services and photovoltaic solar energy to the European market. With each of the partners

holding an equal number of EkoWatt’s shares, HLT acquired a 33.33% interest in EkoWatt. The

EkoWatt’s operations are included in HLT consolidated financial statements recorded using the

proportionate consolidation method.

EkoWatt sells, distributes and installs photovoltaic solar energy systems in the residential sector. HLT

plans to reap the benefits of this joint venture by exporting its solar thermal technology to the European

market and importing photovoltaic solar technology to the North American market.

Purchase of ITER S.P.R.L.

On October 1, 2007, the Company acquired 100% of the voting shares of ITER S.P.R.L. (“ITER”), a

Belgian company, for €120,000. This subsidiary will seek to improve the FIMES technology and to

develop the European market for HLT’s entire product and service line.

On January 11, 2008, the ITER S.P.R.L. subsidiary changed its corporate name to HLT Europe S.P.R.L.

Purchase of a European technology

On November 16, 2007, HLT acquired a European technology for the purpose of managing multi-energy

sources and for building and operating non-conventional multi-energy towers, known as FIMES. This

technology is revolutionizing the actual management methods of wind, solar photovoltaic and hydraulic

energies. With the strong and exclusive collaboration of Rexroth, part of the Bosch group based in

Belgium, HLT plans to improve on and realize the full potential of this technology and to find additional

uses for it. The members of HLT’s management team have identified a number of promising markets in

Europe and the U.S. that have an enormous need for clean and renewable lower-cost energy.

In the immediate future, HLT intends to continue promoting its flagship product—solar thermal energy—

via equipment sales and through long-term energy contracts. In addition, HLT will remain proactive in

searching for additional renewable energy production technologies based on water, wind and solar power

(thermal and photovoltaic) and any other clean and renewable energy sources