3SOF

Quote from: cumulina on June 06, 2007, 10:53:19 AM
Waiting for news - lots of anticipation here!



Lots of discussion and info on InvestorVillage:

http://www.investorvillage.com

whow, nice one!

are you in now?

Yes - with some "gambling-money" only.

My purchase price was 2.80

I do think this will move rapidly (one way or another  ) so I'm ready to throw in the towel, or add to position.

Be careful.... But if you have some "spare money" it could be rewarding.

Good luck.

Press Release Source: Hyperdynamics Corporation
Hyperdynamics' Chief Executive Updates Shareholders on Joint Venture Process
On Thursday May 28, 2009, 9:20 am EDT

HOUSTON--(BUSINESS WIRE)--Hyperdynamics Corporation's (AMEX:HDY - News) Chief Executive Officer provides an update on the company's joint venture process as follows:

To Our Shareholders: 
   
We now have an active letter of indication of interest from a substantial organization expressing its desire to enter into a partnership with us related to our offshore Republic of Guinea oil and gas exploration and exploitation contract area. The letter was a result of an in-depth technical presentation and a few weeks of interactively answering both technical and business due diligence questions. The letter is non-binding and it is subject to more detailed due diligence that is scheduled to start in the near future. When the due diligence period is completed and the parties agree to move forward, we will be in a position to negotiate a term sheet upon which a definitive working interest purchase agreement can be based. This procedure is expected to take at least a few weeks. We do not know if the negotiations will result in a joint venture partnership but are certainly encouraged with the possibilities. 
   
We continue conducting analytical procedures on our 2008 seismic data that are designed to enhance the de-risking of our most significant structural and stratigraphic turbidite targets offshore Republic of Guinea that have the potential to hold world class oil and gas reserves. We remain in an active technical due diligence mode with several other potential joint venture partners including two super major oil companies. We recently engaged Zeus Development to assist us in seeking joint venture partners. Working together with Zeus Development, we have recently provided in-depth technical presentations and set up data room reviews for three other substantial organizations that have expressed an interest in conducting further due diligence that might result in a transaction with us. Yet another substantial organization is currently evaluating the opportunity to enter into a confidentiality agreement with us and engage in in-depth technical due diligence. 
   
We believe that our frontier basin exploration work offshore Republic of Guinea represents the greatest shareholder value impact because it could lead to a joint venture with a substantial organization to drill for oil and gas offshore Republic of Guinea. We have been focused on seeking joint venture partners since late 2008, shortly after we completed the analysis of seismic data that we acquired, processed and interpreted earlier in 2008. While a few potential joint venture partners had begun negotiations with us prior to the stock market crash last year, and following dramatic drop of oil prices this year, many potential joint venture partners remain in technical due diligence with us. We are encouraged to again now be approaching the steps within the joint venture sales cycle where we can be negotiating business terms on which to base significant transactions. Our goal is to sell up to 75% of the working interest offshore Republic of Guinea while not having to pay exploration costs through the point of the first oil and gas production sales (also called a "carried interest") for the remaining 25% working interest which we would continue to own. This goal could allow us to monetize a portion of our most significant asset and retain a substantial financial upside for us if we make a world class discovery of oil and gas reserves. 
   
As always, shareholders are encouraged to call me any time. Please stay abreast of our filings and news. 
   
Warmest Regards, 
   
Kent Watts 
Chief Executive Officer 
Hyperdynamics Corporation 


About Hyperdynamics

Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit the corporate website at http://www.hyperdynamics.com.

Forward-Looking Statements

Statements in this news release are "forward-looking" as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to "Risk Factors" in the company's Form 10-K filed with the SEC.


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HDY-IR


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