Hyperdynamics Corp (HDYNQ)

[thirdcoaster]

Funding Clarified (Link to audio)


https://www.webcaster4.com/Webcast/Page/1542/20385

I think it was clear that we were going to do the big equity raise after Scirocco was in Guinea Waters fulfilling the May 31st deadline (not spud, 59.15 mark) per the PSC amendment 2. Ray was very confident in moving Rig on time. So completion of funding late May early June, then spud mid-June is best guess today (47min mark). Others who attended have also hinted that this last convertible preferred placement will close with a bigger chunk of funds than many of us may expect.

So 2 main funding mechanisms:

1) Small conv. preferred offering open for another week, expected to end before April ends. Then those shares converted and trading by end of May.

2) Large straight equity raise $15-18M, after the convertible is registered end of May-beg of June (55 min mark).
a. Starting the large straight equity raise is contingent on the presidential decree giving big investors confidence as well as closing of #1.
b. Multiple closings taking place over 10 day - 2 weeks on the straight equity raise.
c. With a higher price when Scirocco is in Guinea waters
d. Catalyst Securities and Sergey can be contacted on the equity raise