Replies to post #34 on Tullow Oil UK (TUWOY)

[tdbowieknife]

The DOJ dropped the investigation into corruption because they found nothing to support charges...

https://www.sec.gov/Archives/edgar/data/937136/000110465915040479/a15-12672_1ex99d1.htm

Oil was still 80-85 bucks when this all started and around the same price when they sighed the contract. The price of oil is no excuse to renege on a contract. Because a well is not getting drilled by Sept. the primary reason for Tullows involvement it means the loss of the concession for all.

They settled with the SEC when they decided to jump on the bandwagon after the DOJ bullshit. They settled with a fine in that investigation. All this was about previous management that was long gone.

http://www.prnewswire.com/news-releases/hyperdynamics-announces-settlement-with-the-sec-300150853.html

The allegations in the Order relate to certain issues concerning the company's books and records and internal controls in 2007-2008. Hyperdynamics consented to the SEC Order without admitting or denying the SEC's findings and agreed to pay a $75,000 penalty to the SEC.

In reaching this resolution, the Commission considered remedial acts undertaken by the company and cooperation afforded the Commission staff. The SEC Order recognizes that, beginning in July 2009, Hyperdynamics replaced its senior management team and its entire Board of Directors, revised its policies, implemented training programs, increased its legal and accounting personnel, and instituted a series of procedures to more strictly control transfers of funds

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Buyer Beware



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