March 2 (Reuters) - Hydrocarbon Dynamics Ltd HCD.AX :
* SIGNED TWO MEMORANDA OF UNDERSTANDING WITH VALKOR TECHNOLOGIES LLC
* MOU'S ARE NOT BINDING AND BOTH HCD AND VALKOR WILL NOW PROCEED TO FINALISE BINDING AGREEMENTS
* UNDER MOU, VALKOR CAN EARN INTEREST IN CO'S UTAH PROJECT BY FUNDING NEXT 2 PHASES OF EXPLORATION, APPRAISAL & DEVELOPMENT