Hyperdynamics Corp (HDYNQ)

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OK guys and gals, help me out here. I've been sitting back watching this unfold. Several scenarios seem mildly plausible but one thing keeps nagging at me. If they are looking for a reverse merger, why fork over 6Mil cash for only 53%? They could have waited a few months and picked bones, or there are surely any number of OTC listed companies in O&G with their bankruptcy papers already drawn up that could be had for a small percentage of debt.
The optimist in me keeps wondering if maybe the Chinese are still wanting into Guinea and figure better working together with (or behind the guise of) HDYN.
- Do you think they would bid on upcoming tracts?
- Do you think they would have a snowballs chance of getting one or more?
- Do think Guinea will even go ahead with taking bids in light of the Total deal?
On the other hand why would these guys want to get into exploration at all?
Guess I can sit back and see if they let us in on the plan....