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In latest 8-K E-Seis took stock in lieu of 300k bill. Good sign imo.
Equity Raise extended to September 1.
I am posting a link to a technical article on the significance of a gas cloud. I'm hoping someone with more technical knowledge, can translate this in view of the release today.
http://www.ogj.com/articles/print/volume-96/issue-2/in-this-issue/exploration/how-abnormal-pressures-affect-hydrocarbon-exploration-exploitation.html
New Update, very positive:
http://investors.hyperdynamics.com/releaseDetail.cfm?ReleaseID=1038353
Thanks, for the thoughtful response,
as I have posted somewhere before, usually successful shorting requires owning debt [bonds] and collapsing the common. Since we have no debt, that is not possible, and hopefully the potential value [pre-results] or the actual value [post-results] will be recognized.
Third, what do you see in that? I've seen this before, but just don't see anything useful there. TIA
I intend to likewise restrict my postings to this board.
Reverse stock split is approved.
http://investors.hyperdynamics.com/secfiling.cfm?filingid=1104659-17-52204&CIK=937136
Hyperdynamics and SAPETRO receive Guinea Government assurance of its consent to the appraisal period
"Drilling well on paper" exercise successfully implemented
HOUSTON, July 17, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) ("the Company") today announced that it has received a letter from the Government of Guinea confirming that a two-year appraisal period will be granted to the consortium of SCS Corporation Ltd. ("SCS"), a wholly owned subsidiary of HDYN, and South Atlantic Petroleum ("SAPETRO") in the event of an oil discovery in the Fatala-1 well. The letter was signed by the Director of ONAP (Guinean equivalent of the Ministry of Oil) Diakaria Koulibaly in response to the official request sent by SCS Corporation Ltd., for the two-year appraisal period.
My question would be - then why are they doing it - not just for the exercise and to spend Money unnecessarily. I understand and have felt your pain in the past, but what sense does it make to reverse split just for the hell of it? Cui bono?
I don't see this as bad news. Obviously, the well is moving forward and actions are being taken in that regard. We're in for the ride, so let's think positively.
Hyperdynamics and SAPETRO Provide Operations Update on Preparations for Spudding Fatala-1 Well
HOUSTON, June 26, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) ("the Company") today announced that its wholly owned subsidiary, SCS Corporation Ltd. ("SCS"), and South Atlantic Petroleum ("SAPETRO") are proceeding with the preparation to spud the Fatala-1 well.
The key events include:
The Pacific Scirocco drillship has been re-fueled and is returning to Guinea with an estimated time of arrival (ETA) of June 27.
The operations team of SCS Corporation attached to Guinea is being deployed and contracting of helicopter and support vessel services has been completed.
Well tubulars for Fatala-1 have been stored in Port of Conakry to be loaded on board Pacific Scirocco.
Schlumberger has commenced mobilization of materials, equipment and well drilling-related field staff in its role as Integrated Project Manager for the major well drilling services.
The remotely operated vehicle (ROV) to be used to spud the well has been loaded onto a vessel in Aberdeen along with the wellhead running tools to start sailing this week to the Pacific Scirocco in Guinea with an estimated arrival date of around July 10-14.
The Drilling Well On Paper (DWOP) exercise will be held by our subsidiary, SCS, in Conakry July 14-15 with participation of all major contractors, SAPETRO and ONAP, (the Guinea Petroleum Bureau) to review the drilling plan and preparedness of all parties as a final planning step prior to spudding the well.
Once the ROV has been installed and tested and the drilling equipment and materials have been loaded onto the drillship, the Pacific Scirocco will be moving to the Fatala 1 location with a planned spud by the end of July.
"We are very pleased with the preparation for the drilling of Fatala -1 and with the performance of the contractors. All the elements needed for the spudding of an ultra-deepwater well in a frontier location are coming together nicely," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer.
"Concurrently our geological team in Houston has made further progress evaluating the prospects of the Bamboo area and identified a location for the second well. Both geological and operational progress is going to be reviewed in detail during the upcoming meeting to be held with partners and ONAP in Conakry 12-13 July," explained Mr. Leonard.
Looks about right to me:
https://www.hyperdynamics.com/guinea_project.htm
Good post whitenoise. Mirrors my thoughts.
Hyperdynamics Promotes Sergey Alexeev to Senior Vice President and Chief Financial OfficerFont size: A | A | A
7:00 AM ET 4/19/17 | Dow Jones
HOUSTON, April 19, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) today announced that Sergey Alexeev has been promoted to Senior Vice President and Chief Financial Officer of the Company. In this role, he will oversee all financial, accounting and commercial aspects of Hyperdynamics' activities. Mr. Alexeev joined Hyperdynamics in September 2016 as Vice President-Commercial Development on a consulting basis.
"I'm very pleased to name Sergey to an expanded role as CFO," said Ray Leonard, President and Chief Executive Officer. "Since he joined us about seven months ago he has done an outstanding job of identifying and negotiating with prospective partners in our Guinea project and investors in our Company. As we make our final preparations to drill an exploration well this spring offshore the Republic of Guinea, he will play an increasingly important role in the overall financial and business development activities of the Company."
Prior to joining Hyperdynamics last year, Mr. Alexeev was Chief Operating Officer for Soyuzneftegaz, a Russian oil and gas company and earlier was Chief Financial Officer and First Vice President for Rosneft, Russia's largest oil and gas producer, in charge of economics, finance and business development. Earlier, he held executive positions with ABN AMRO Bank and Coopers & Lybrand, both in Moscow. He has extensive experience in banking and finance, mergers and acquisitions and international negotiations. Mr. Alexeev holds a Diploma in SHYSHYInternational Financial Relations from the Moscow Institute of International Relations and a Master's degree in International Economics (MSc.Ec.) from the London School of Economics.
Disagree. If the Sapetro deal had fallen through as you suggest, that would have been a reportable material event.
Understand your concerns re merger. He did say many times that his primary objective had been and will be to preserve maximum s/h value.
Has anyone gotten through to IR in the last month?
Follow this link for HDYN expedited discovery motion just filed.
http://www.investorvillage.com/groups.asp?mb=10989&mn=74749&pt=msg&mid=15742054
A speculation for sure, but this would be consistent also with a takeover of one or more of the parties. FWIW, which is again, only a speculation.
Thanks for posting. I have always said that it is inexplicable that Tullow and Dana would forfeit their reputation in the industry over the minor amounts of money involved. I can only conclude that a blanket edict about further expenditure was issued by both of their boards of directors. How completely foolish as they will certainly expend considerably more in the litigation, and will ultimately have to not only drill, but pay damages as well. This, they richly deserve. Fools.
From Tullow update:
"Note 9: Expenditure on onerous rig contracts has been provided for in the 2015 income statement. This relates to the Stena Drill Max and Borgland/Dolphin rigs and reflects lower activity levels in the current environment."
The Drill Max remains at anchor and from this note, under contract to Tullow. I, for one, am not ready to rule out drilling until the court rules.
That is indeed good news. Thanks for posting. Do you have any mention of who has been chosen as opposing counsel?
Its even better for HDYN than that in the sense that it is the court that would order the well drilled on the expedited injunction motion. This could come in March.
add the ,
With respect, that is not how SEC reporting requirements view things. I, for one, am still looking at this. Hope you will too. What about the volume at that time?
I've read your posts and respect them. You may be right here. I can't be certain. The owner on HDYN's proxy is "Blackrock, Inc." That is NOT the entity you show. Not disparaging your research, just still looking at this. What are your thoughts?
According to the proxy material they still own.
Posted this elsewhere:
This smacks of gamesmanship, but at extremely high stakes. The potential legal liability of fully solvent international companies is astronomical. HDYN's press release sounds to me like a move calculated by lawyers who know how the game is played. I certainly hope so. I'm holding, and will likely play the stock, or the legal game, to its conclusion. I'd love to present to a jury the argument that "I won't sign till you sign" while HDYN meantime gets burned down. This either gets resolved quickly, or two big international companies are betting the ranch; and for what? I intend to find out. We have enough money to fund a bet-the-company lawsuit against Tullow and Dana. We have been vindicated legally before. I hope our uncommunicative leaders are not as weak as they appear. All fwiw.
Thanks.