Hyperdynamics Corp (HDYNQ)

[phxdishman]

It is hard to be positive given the recent events / timeline in the absence of any updates. I believe the "bridge financing" conducted by Roman is completed, with less than full/ expected funding (net proceeds of just over $1M I believe).
Given that:
1. The new Sapetro deal essentially values the concession at $0 (unless you're willing to count the reimbursement of their 50% share of the already sunk $8-10M in well costs). The possibilities of additional farm-outs have apparently dissolved.
2. Hyper has apparently missed the deadline in the Sapetro agreement of April 10 to obtain their portion of the Fatala well cost ($15-20M).
3. There has been no word of any extension or waiver of the deadline to my knowledge.
4. Given that the Sapetro agreement was signed just 11 days before the well cost funding deadline; I can only imagine that RL thought he had the funding lined up at the time of signing (March 30) and something has happened to impact it and/or the timing.

I would expect some news prior to or at the SHM (or it will be be a pretty gruesome affair) & the share price will be impacted.
Why anyone would buy in before the funding/dilution news is beyond me (hard to see how the dilution wont be very significant even if the funding is possible).

JMHO-GLTA