Hyperdynamics Corp (HDYNQ)

[whitenoize]

I'm of the same thinking, but have to take exception to your 3rd point. I am of the belief that this is all about the TENS project. Tullow had slated the West Leo for 20 infill wells during 2014 on this prospect area. They are also actively seeking a farm down in exchange for a full carry to first oil.
They are in need of revenues from this area and would certainly prioritize it over a wildcat exploration well. The kind of work described is more than a delay in a rig schedule, it's a postponement.
If they had offered HDY a carry on expenses during the delay it could have probably been worked out, but they threw their partner under the bus.
The non claiming parties have the right to demand details and the claiming party must respond within a reasonable time. This buys Tullow some breathing room and means we won't hear anything from Ray for awhile.
As far as a legitimate reason for the action? There has been NO injunction, NO indictment, NO restraint filed, and NO accusations made. It is a stretch to see how the Stated Cause is preventing the Operator from fulfilling there duties under the contract with the Leaseholder. Then they would need to explain why there were no contingencies for such as to make it unforseeable (ever read a HDY 10K?)
All of the above just my opinion......