Hyperdynamics Corp (HDYNQ)

[lvl99]

The comments around Pacific Drilling were brief. To answer your questions directly, I am not sure. Jack did not seemed to bothered about PACD or HDY obtaining the bridge financing. I did interpret that HDY is not concerned about the company walking away as their financial situation is only a hair better and it is in their interest to have HDY drill.

I did find it interesting though, that Jack made a comment about HDY having access to either the Pacific Bora or the Scirocco. I immediately responded that the Bora was NOT an option as it had been contracted out to ERIN Energy with a target spud date of June. He seemed genuinely surprised by this and asked a couple follow-up questions to me regarding the deployment and what I had read.

I am curious if any other board members have submitted questions to HDY management? The more I think about it, I do find it curious that the immediate response that I received was to call me. Perhaps they would prefer in this perilous time to not have anything in writing? I encourage other member to reach out and see what information they can extract, if any.

The question is, if the framework is already in place should a deal be approved at what price will the offering take place? I cannot see this stock appreciating to much with a major offering on the horizon. Unfortunately HDY does not have any real leverage in negotiations both for concession and an offering price. I can see this easily falling into the .60-90 range either before or in conjunction of offering announcement.