It is going to take positive news to spark anything at this time. Way too much risk. Any Tullow news is going to have to be clearly related to HDY (i.e. mentions them by name) to have any affect.
Not to be a pessimist, but I see a reverse split, 10:1 bringing the SP up to $4.50 and then a decline down to about $2.00-3.00 range before the pre-drilling climb. That means an effective price of .30-.20 per share.
This is all just speculation, and I am not confident enough to sell what I do have at this price in hopes of buying back in at half the current value, but I will consider that with RS news.
Of course, the RS will remove the risk associated with delisting, so who knows.