Hyperdynamics Corp (HDYNQ)

[gpg]

SHM webcast
Just listened to the webcast last night. Great job by RL and the HDY team. How many CEO's come out at their SHM and tell shareholders they may be diluting the stock in the next few months to help raise $50M and the stock responds with near record level volume with over a 10% price spike up??? That alone speaks volumes to our management and the value of the concession.

RL gave us a list of things to look forward to and to send the pps higher in anticipation just in the next 2 months:

NSAI report on 2D of deep water propsect
NSAI report on 3D - revised reserve estimates
drilling contract
potential financing deal/JV deal

In terms of the revised report based on the 3D work - one of my favorite nuggets from the presentation was RL's comment that the 3D revealed several more plays not revealed with the 2D --- he said these additional prospects would "significantly increase" the value of the Guinea concession. Not only will the revised NSAI report give us a higher risked reserve number, but it would seem we can expect a reserve estimate in the 3D area much higher than the 2.3B barrels initially reported last fall.

As shareholders, we are truly blessed with a top notch CEO and management team - the disappointment of the LOI falling thru seems like a distant memory and I think all of us are seeing the benefit of this deal not coming to fruition. Things are really falling into place nicely!