Hyperdynamics Corp (HDYNQ)

[gpg]

Today's CC

For me, the most important thing Ray communicated in the CC was the sense that HDY was now the nice, pretty girl with multiple suitors as opposed to the awkward boy just hoping to find a date anywhere (second cousins not excluded if necessary). He said several times that there was a lot of interest in the concession, that as soon as Repsol's exclusivity agreement expired, companies were calling HDY. He said HDY was in a strong enough position now to be able to choose an operator. This tells me several things - obtaining a new partner/operator is a given. Whether it is Repsol or someone else, the deal we will get should be much better than the deal initially outlined with Repsol in the LOI - result of competition and more stability/certainty re Guinea.

Other highlights:
-Enable gone - lots of cash in the bank to cover operating costs for quite a while
-In the coming months, many things to look forward to PR wise to boost/support the stock price - presidential decree, Dana money/stock in the bank, news on a new partner which I would expect sooner than later as they would no doubt want to be involved in the 3D seismic planning process, 3D to begin in July (much more than was orginially planned), disclosure of more details regarding results of 2D seismic, etc.
-Ray is going to start telling the story to institutional investors next week.

The more I hear from Ray, the more I am blown away with the quality CEO we have and the team they have put together at HDY.