Hyperdynamics Corp (HDYNQ)

[Seraglio]

Deepwater rigs are in short supply, so hard to say. If the 3D looks good and a JV partner is on board in say 6 months, then have to agree well location, design well, procure all equipment, including a rig (and this will be in much deeper water)so I would say 2013 is realistic, perhaps even a touch optimistic. If the JV partner has a long term contract with a suitable rig that may speed things up, depending where the rig is located and other commitments.