Hyperdynamics Corp (HDYNQ)

[hondadriver1973]

Some thoughts:

If Ray and his talented directors believe in HDY still, there should be substantial INSIDER BUYING coming soon to a theater near you. 50,000 shares purchased by 5 insiders each totaling AT LEAST 250,000 new insider buy shares would be significant imo. Ray has the power to start a real turnaround for the stock, but he needs to throw new investors some solid reasons to buy HDY. Insiders buys are one such reason.

But if the shorts have not started covering yet, watch out. The conservative trader in me says they should have covered the morning the pps hit 1.01. If they have not covered yet, I suspect that they want to drive the pps under 1.00 and will then raise it back over 1.00 when they cover. I expect a real decrease in the HDY short interest when the next report comes out.
We shall see. The short clearly does not fear a buyout if they have not covered in this pps range under 1.50.

FWIW, I also think HDY is grossly oversold right now and should be much closer to 1.75 IF FOR NO OTHER REASON than the fact that the completion of Sabu-1 drilling ensures that HDY has the concession for 4 more years. $45 million in the bank is nice, but not enough to get HDY to the next well.

I am quite disgusted overall with HDY, but more so for loyal longs that have seen their portfolios hammered hard by HDY for months now (I'm an HDY trader, not an HDY investor). I bought 5,000 shares at 1.31 this week and immediately HDY goes down, just like anytime I buy it - but the gains always come.

Ever since the offering at 5.00, HDY has had difficulty holding the 5.00 shareprice. Any argument with this?

Did the 10,000,000 shares at 3.00 go through and get finalized?

Like so many have noted, ever increasing gas prices will keep HDY on the map.

Let us hope the new 3D additional data the company has been gathering leads them to a better drilling site with better results next time. I don't believe for one second Ray and company will survive a second dry hole, though I do believe they will have the opportunity to drill a second well - and they darn well better show progress toward it and the actual start of such a second WELL, FAR BEFORE 2013! As months of nothing newly accomplished by Ray tick by, so will the pps decline imo.

GLTA.