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Thursday, May 05, 2016 6:31:15 PM
https://www.sec.gov/Archives/edgar/data/937136/000110465915040479/a15-12672_1ex99d1.htm
Oil was still 80-85 bucks when this all started and around the same price when they sighed the contract. The price of oil is no excuse to renege on a contract. Because a well is not getting drilled by Sept. the primary reason for Tullows involvement it means the loss of the concession for all.
They settled with the SEC when they decided to jump on the bandwagon after the DOJ bullshit. They settled with a fine in that investigation. All this was about previous management that was long gone.
http://www.prnewswire.com/news-releases/hyperdynamics-announces-settlement-with-the-sec-300150853.html
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Buyer Beware
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