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Understand that Mario concern!!
However, it's starting to look less like a family business with the hiring of some "real" oil people, the GSF deal for seismic, and getting together with SMH to look for partners/financing etc.
Heck...they even have the oil professionals out doing the road shows vice Mike Watts and Mario nowadays (ie. the Canadian exposition tomorrow).
G
Have you bought some?
G
New news!
http://biz.yahoo.com/bw/080312/20080312005334.html?.v=1
Press Release Source: Hyperdynamics Corporation
Hyperdynamics Accepts Offer to Acquire 85% WI in 264-Acre Lease in the Big Island Field
Wednesday March 12, 7:00 am ET
HOUSTON--(BUSINESS WIRE)--Hyperdynamics Corporation (AMEX:HDY) announced today that its domestic subsidiary Trendsetter Production Company (TPC) and its partner Rabb Contracting Company, LLC (RABB) acquired a 264-acre lease in the Big Island Field in Rapides Parish, Louisiana. Under a contractual relationship with RABB since last summer, after securing this new lease, the offer to become an 85% working interest (WI) owner was extended to TPC. After reviewing the details of the opportunity, TPC accepted.
ADVERTISEMENT
RABB, as the operator, will be moving quickly to secure the drilling of the most lucrative drilling location which it plans to drill to a targeted depth of approximately 5,500 feet before June 2008. The lease contains 7 wells that historically produced over 429,000 barrels of oil from the Turner sand reservoir. A recent prospect report, prepared by a local Petroleum Geologist, included net pay maps with correlation logs. This report indicated that this sand had estimated initial reserves in excess of 868,000 barrels.
Mr. Claude Rabb, President of Rabb Contracting Company, LLC, commented that, “this lease represents a prime opportunity to tap into an excellent field that was shut down years ago when oil prices were insufficient to sustain production or further development. With oil prices at current levels, the economics are very intriguing especially when you consider that several hundred thousand barrels were most likely left unproduced.”
Mr. Jeremy Driver, President of TPC, stated that "this acquisition falls in line with our domestic philosophy of re-entering and revitalizing production from fields that have produced before. Over the years enormous amounts of production were shut-in and plugged when soft commodity prices did not warrant ongoing efforts. Big Island is typical of the fields we consider, having multiple sands containing significant oil and gas."
About Hyperdynamics
Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com.
Forward-Looking Statements
Statements in this news release are “forward-looking” as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to “Risk Factors” in the company's Form 10-K filed with the SEC.
News
Hyperdynamics' Rising Oil Sales Trend Continues
Monday March 10, 7:00 am ET
Company to Drill New Wells and Acquire Additional Producing Leases
HOUSTON--(BUSINESS WIRE)--Hyperdynamics Corporation (AMEX:HDY - News) announced today that its Louisiana-based operations reported February oil sales in excess of 4,800 barrels representing a fourth straight record setting month. The subsidiary, Trendsetter Production Company (TPC), with combined production on operated and non-operated leases, has realized a steady increase in gross barrels of oil sold from 1,425 barrels, in January 2007, to 4,880 barrels now sold in February 2008.
As a result of the extensive work performed on new leases obtained since last summer, record revenues are being realized while maintenance and lifting expenses (per barrel produced) continue to decrease. On its existing leases and without drilling new wells, the Company estimates 80 to 100 barrels of additional production may still be attained from additional nominal rework and recompletion. This work has been delayed by seasonal weather and rising water levels along the Mississippi River, but is planned for completion as soon as conditions allow.
Additionally, the Company is now preparing to drill several new developmental wells on existing leases and is working to acquire additional producing properties. With adjacent production, extensive well control, and engineering reports, the drilling targets currently lined up have multiple pay zone potential. New leases that are being evaluated are in the same general area as current operations. They have a history similar to the Company’s existing producing leases with the characteristics of previous production, having existing shut-in wells, and having all or portions of the production facilities in place. The combination of opportunities to reestablish production in previously produced zones, recomplete existing wells in zones never produced before, and additionally drill offset development wells, should allow the Company to continue its rising production and revenue trend. At the same time, with improved economies of scale, use of new technology, and expected free flowing and higher volume development wells, lifting costs per barrel are expected to drop significantly.
Mr. Jeremy Driver, President of TPC stated that, "Successful recompletions and reworks of our existing properties, together with our planned lease acquisitions and new drills, will give many avenues to keep our production rising and efficiencies improving. We are very optimistic about our domestic operations and opportunities."
About Hyperdynamics
Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com.
Forward Looking Statements
Statements in this news release are “forward looking” as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to “Risk Factors” in the company's Form 10-K filed with the SEC.
# # #
HDY-IR
Contact:
Investor Awareness, Inc.
Tony Schor or Lindsay Kenoe, 847-945-2222
www.investorawareness.com
or
Roher Public Relations
Phillip Bergman, Vice President, 914-238-2200 ext. 302
--------------------------------------------------------------------------------
Source: Hyperdynamics Corporation
I thought the Amergence Group, Inc. symbol was AMNG...not AMGG. What am I missing?
G
what is this need for "if they're ALL gone, then we're DEAD. If that's the case, then let's all just admit it and move on. Can we all admit that?"
what does any other investor care what another thinks.
Geez...it sounds so liberal...Can we all just get along?
Make up your own minds if this is dead or not.
G
And you give credence to info like that?
I've got a bridge in Brooklyn to sell you then.
G
Bravo, Bravo!!!
G
And your point is?
G
Dogs are usually a good judge of character....so you're ok in my book then!
Can't disagree with anything in your last post.
Guess that means I agree with you...who'd have thunk it.
G
How's that class action coming???
Get the ball rolling yet or are you just talk???
G
go ahead...organize one! I bet you're all talk and no action. Another board whiner.
G
AOL users, if you are having trouble viewing this e-mail, click on this link:
Amerging News
Additional Updates to
ASK AMERGENCE
Q: Won´t the new post-reverse share price just go back to its old price before the reverse split? What prevents this from happening?
(6/24/2007)
A: Thanks for writing. OK... to start with, all reverse splits or rollbacks aren´t the same.
If a small public company goes out of business and needs to find new owners, it must reverse the stock in order to make room for those new owners. In almost every one of these cases, there is a span of inactivity that takes place as the company transitions from the old controlling shareholders to the new controlling shareholders. During this transition, the stock price falls back to almost nothing. Very importantly in this case, the authorized shares are seldom rolled back in tandem with the outstanding shares leaving a majority of shares still authorized but, as yet, unissued. A formula that spells trouble for the old shareholders.
A second type of reverse split scenario takes place when the company´s capital structure can´t support the business model. In Amergence´s case, the company´s revenue (as SunnComm) went from almost $200,000 a month to zero, primarily because of backlash created by several consumer group´s negative reaction to a competitor´s CD copy protection methodology. The Company needed time to re-tool and come up with additional products that would create revenue. During that hiatus, the company´s share value fell lower and lower because it couldn´t report additional revenues. Even though the company cut its overhead continually, it was forced to sell equity to survive during the interim.
Now that the Company is preparing for its re-emergence (pun intended), the stock structure will not allow us to attract the resources required to give the company a fighting chance to successfully complete its business plan. A rollback (of BOTH, the issued/outstanding shares AND the authorized shares) would have to be an integral part of the Company´s recovery.
There will be no lulls, more financial resources, more news, and an enhanced acceptability in the overall marketplace with our share price measured in dollars instead of the sub-pennies.
Yes, we expect to see some "hammering" of our share price following the rollback and it is our hope that we can show enough progress with Amergence to make up whatever we may lose in the short term, and to justify your continued support.
Thanks again for writing.
http://70.167.195.121/askamergence/
ABOUT THE AMERGENCE GROUP
The Amergence Group (AMNG.PK) identifies, nurtures, and expands selected emerging companies across a wide range of industries and disciplines. The primary goal of the new business development enterprise (BDE) is to coordinate services and activities that foster and promote a business environment capable of accelerating the growth of innovative companies. The Company attracts new and early growth businesses that wish to take advantage of resources not generally available to them, such as mission-critical capital, in addition to legal, accounting, and public relations resources. In exchange, the Company will retain a small minority ownership position in the promising new businesses. The Company is currently reviewing comprehensive due diligence packages from a number of potential target companies, ranging from the medical, legal, and entertainment industries.:
Company Contact: Investor contact:
Peter H. Jacobs Investor Relations
480-443-1600 480-443-1600
peter@amergencegroup.com 4press@amergencegroup.com
Did you actually try to buy the products listed?
Reason I asked is I attempted to replace my shugr stash and even though the products were listed, I couldn't buy any?
This was last year. If you find you can actually purchase the Shugr product now...let me know cuase I like it.
G
Agreed!!!
Don't tell him sting...I like watching him pull his hair out in frustration!
G
yeah right...wink, wink.
G
Not only that...his posts want us to think he worked there. What a joker who was magically born today. Lol
G
Your happy about shareholders losing money? Pathetic.
G
Appreciate the reply.
By the way...can't disagree with your list, wish I could but can't.
G
Not asking you foggy...fly seems to want to adhoc police the board so asking his opinion.
G
Personnal attack? What do you think fly?
G
But in your mind it's ok for foggy to attack a person with his cheap shots at finger pointing he's an insider, he's an insider.
All foggy got from you was you don't like his tactics sometimes. For my post I get board monitor, board monitor lookee lookee, foul.
Interesting, are you related to foggy, or have a romantic interest in foggy to show such favoritism?
Just looking for clarification of motivation Mr. Board monitor, not attacking my good board buddy flydoc.
G
You need to protect Foggy?
G
Wow alj14...
Even I had to dust off the old dictionary for some of those words.
Good post,
G
OT: I like you Kmeister...at least the way you think!
G
p.s. - oh oh...now this post will probably start rumors there's something between you and me. Who will be the first to say "G is Kmeister" or ""Kmeister and G work together pumping and dumping".
Sorry, didn't mean to get you involved this deeply...lololol!
OT: Now-now Mr./Ms. amoneymaker;
You stated "I'm getting a bit tired of all the longs on this board being called out by new spin doctors."
Who please are you classifying as "longs on this board being called out" (user names please) and who the "new spin doctors"?
I consider myself a long (having bought/sold/held various quantitities of this stock under 3 or 4 different company names to date) but don't think I fit into your statement referenced above...so just curious how you've classified the various posters on this board. You have me confused here, especially with your recent added inuendo of motive.
G
OT: You're right...rechecked my computer keyboard and it failed to type the a & t before "tack". Good catch! LOL!
G
sahd3g...not any news that we all are privy to or have admitted hearing.
By the way, I've tried clueing some here into possibly recouping some of their MMXT/SCMI losses by looking at HDY. Don't think there have been any takers as yet.
G
amoneymakernow;
The thought police informed me "lazy" might be to harsh a word so I'm trying a kinder, gentler tack. Is it working?
G
amoneymakernow;
Nice post. I particlularly liked the statment "I will continue to demand facts as to why we were lied to"...
Great sentiment however it appears you only "demand facts as to why we were lied to" only from us...and how would we know. If you truly want answers to your "demands" address it to the people that can get you your facts of why we were lied to...that would be some type of legal action probably.
I don't think you will however because I bet you aren't motivated enough to actually do something other than kavetch here because that's easier. This won't get you the answers you want.
Am I right?
G
Flydoc;
You stated "Rather than attacking each other around here"...
I disagree! If posters are lying (excuse me, if lying is to politically incorrect for some of you then substitute storytelling), posting non-factual info, etc. they should be called on it.
Why ever would you want to let a twister of facts run amock with free reign?
G
"preconceived opinion formed without knowledge or facts limits the ability to see anything other than ROSES"...
or THORNS.
G
gregg99;
At this moment in time (at this share price) you would be right. Here's to you steh...for having the courrage of your convictions, selling when your DD convinced you to, and hopefully making money in other venues. I'll toast to that.
I won't toast to the fact that steh stayed on here to, from his point of view, rub our noses in the fact that others did not sell as well. With no further financial interest in the stock, the things he was saying were just plain rude. That part of steh deserves no toast, only derision.
G
Now that post I can agree with whole-heartedly...
I love that you just stated what "is" without resorting to exageration or false statements to make the point. If only others could as well, maybe we could get back to a civil board.
Thanks flydoc...good post,
G
You can't tell me after all you've stated about the company you expect anyone to think you're credible when you use the words "unbelievably" & "incredible".
What did you think was going to happen?
G
Just wish the company would to a little something so we don't have to resort to goose-isms...lol!
G
Good investment strategy...hold because I think I can lose even more money!!
Please point me to any of the top investment guru's of today that promote that strategy...I'd like to buy their book and update my investing philosophies.
I'm serious, give me the name of any of the top money makers in the investing world that promote that strategy to make money. Ohh...you need more time to come up with someone?
Get real!! Do you realize how silly that is? Let me print it hear again so you can see it on someone elses post and maybe then you can think about what you are advocating. Here it is:
"I'm so far down it's not worth selling BIG difference. I have an idea by the end of 07 this will most likely be a total write-off."
Unless it will cost you more in commissions then you make selling and reinvesting elsewhere...this strategy is ludicrous.
Again, only lazy investors do that.
G
Interesting question...I think the normal response would be to feel ripped off.
However, let's take your scenario to the next level. What does one then do about it?
A. Take some action to make the best of the situation?
1. Eat the goose to sustain your body for the next day's work (sell remaining shares to invest elsewhere)?
2, Go after the person legally that sold you the goose for damages (legal action against the company)?
or,
B. Sit around whining about the goose not producing yet letting him continue to eat your goose food while giving nothing in return except goose poop (which some say is good fertilizer - ie. lesson for future investing decisions)?
Using your scenario, every company is selling the proverbial golden goose. It's up to you, the investor, to make your picks, keep your winners, sell you losers, and live with your chosen results.
If you think fraud has been committed, do something about it.
If you think you made a bad investment decision, do something about it.
Whining accomplishes nothing in meeting your investment goals.
The people who whine here, yet still hold shares stating the comapny is no good, are lazy investors...fact not opinion!!
G