Hyperdynamics appears to be headed for oblivion. Options, one after the next, have mounted a killing campaign. Even Ray, always hopeful, admits now that he doesn't see anything looking like it might be a reprieve. That is so very sad. strangely, though......
It seems to this lonely investor that the overriding concern here is that of making money. Nothing has been said---at least yet, that is---about the dream that is looking more like a nightmare.
There was a time when a petroleum-finding specialist and his close buddy who was an electrical engineer teamed up for the sake of adventure to see what worlds lay out there. They sought mountains and, especially, valleys laying well beneath the ocean surface...valleys chock full of oil.
Returning on a trip in their makeshift vessel during which time they'd "planted" geophones and "trolled" the associated waters in search for oil deposits, they wondered what they might do next. A friend who happened to be a cabinet member of the ruling administration in the Republic of Guinea begged for help. His poorest of poor African nations desperately needed guidance--- guidance, it was hoped, that might unlock mysteries capable of providing energy with which to produce a transformative effect bringing a country's people out of an abyss best described as existing on wages of a single dollar a week.
Although our so sojourners were anxious to get back home, having been away from family and friends for nearly two months, they agreed to help a beleaguered country's people struggling daily.
They had earlier formed a little privately held company, calling it SCS. When their personal values were called into play and they couldn't escape the call to represent Guinea's petroleum interests, they very reluctantly yielded and thus was born the first petroleum contract held by the Republic of Guinea. Make no mistake, their boat was a fishing vessel, originally. It was they who bought equipment and "added" it to their vessel in a make-shift manner. But it was their sense of honor and their consideration for the plight of those whose interests they would now represent that truly guided them in their new mission.
These two brilliant men were not businessmen by any stretch of the imagination. With unimaginable innocence they handed the reins governing the development of the Guinean concession over to Hyperdynamics. There was a personal consideration due the two in the form of (then HDY) shares. There followed two years of nightmarish discussion between HDY's management and the two men resulting in the total shutting down of anything resembling negotiations. And the shares promised were never paid.
I worked for our two men for several years, heading up their public relations department. They'd read some of my posts at Investor Village and invited me to meet with them. At the conclusion of several luncheon meetings, we three decided to team up, whereupon I took the reins and composed all press releases chronicling petroleum-related interests along commercial lines.
Last week I sold most of my shares as I could see things were not likely to go anywhere good. This morning, five minutes before the market opening, I knew it was time to call it a day. I am so sad.
The horror here is that HDY never really got a break. A significant population might have found a meaningful reprieve through an increased commoditization thanks to imagined assets awaiting discovery yet it was not to be, alas. But the dream was very much alive in these two men.
May you both rest in peace, my two friends...Bob Bearnth and Neil Moore.
I'll be forever grateful for having known and loved you, worked with you and represented you both during your fruitful years and afterwards.
Len Profits aka Jugs
