Hyperdynamics Corp (HDYNQ)

[Rule_62]

More details on the CLNG deal and HDYN's cash position

From page 4 of the 10-K

"The Company intends to use the net proceeds of the stock purchase agreement to pay outstanding obligations."


From pg 12-13

We require additional financing to meet our general and administrative obligations and in order to fulfill our PSC commitments during an appraisal program. We are currently not in a position to predict when, if ever, we will be able to meet those obligations.

The Concession offshore Guinea is our principal asset and we do not have the funds necessary to fulfill the proposed appraisal program under the PSC. On November 14, 2017, we had $0.7 million in unrestricted cash and $9.9 million in current liabilities. In the absence of operating cash flows, in order to meet our current obligations as they become due over the next quarter and 12 months and, if the two-year appraisal period for which we have applied is granted, to be able to continue with our operations, we intend to rely exclusively on issuing equity or debt securities or, alternatively, divestiture of additional participating interests in the Concession.