HYPERDYNAMICS CORP

Guinea verbally refused Hyperdynamics' request for a two-year appraisal extension, and the CLNG stock sale collapsed when the buyer walked away - closing out the Fatala campaign without the well ever being drilled and leaving the company without its rescue financing.

material agreement termination

With SAPETRO gone, Hyperdynamics lined up a new outside investor, Hong Kong's CLNG Limited, to buy $6 million of stock at a steep discount of $0.15/share, contingent on due diligence and preferred-holder waivers.

material agreement

SAPETRO withdrew from the Fatala joint venture before drilling began, paying Hyperdynamics $4.9 million to settle its share of costs and unwinding the farm-in agreed just six months earlier.

material agreement termination

Guinea approved a Third PSC Amendment formalizing SAPETRO's entry as a 50% partner alongside Hyperdynamics.

material agreement

Hyperdynamics farmed out 50% of its Guinea concession to South Atlantic Petroleum (SAPETRO), a privately held Nigerian E&P company, ahead of the planned Fatala well.

material agreement

Hyperdynamics, Guinea, and new partner South Atlantic Petroleum (SAPETRO) signed a tri-party protocol committing to spud the Fatala well by May 30, 2017.

drilling progress report

Hyperdynamics signed a drilling contract with Pacific Drilling for the Pacific Bora drillship to spud a new well offshore Guinea in mid-2017.

material agreement

Guinea approved a Second Amendment to the PSC, clearing the way for Hyperdynamics - now sole concession holder again after Tullow and Dana's exit - to restart its own exploration push.

material agreement

Hyperdynamics settled its arbitration with Tullow and Dana: both withdrew from the Guinea concession and PSC, handing back $8.1 million of long-lead drilling equipment plus a modest cash payment - ending Tullow's three-year run as operator without a well ever drilled under it.

material agreement

HYPERDYNAMICS CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

NYSE suspended trading in Hyperdynamics' stock and moved to delist it; shares began trading over-the-counter under the symbol HDYN.

listing compliance notice

NYSE announced it was starting delisting proceedings against Hyperdynamics for falling below the exchange's $50 million market-cap and equity standard.

listing compliance notice

NYSE warned that Hyperdynamics' stock had averaged below $1.00 for 30 trading days, the latest of several listing-standard breaches.

listing compliance notice

Hyperdynamics settled its litigation with AGR Well Management over the Sabu-1 drilling program, recovering about $15.6 million net from an escrow account - a partial reimbursement of the well's ballooned costs.

material agreement

NYSE notified Hyperdynamics that its market capitalization and stockholders' equity had fallen below the exchange's $50 million continued-listing thresholds.

listing compliance notice

The Tullow farm-out closed: Tullow paid $27 million - well short of what Hyperdynamics and Dana had spent drilling Sabu-1 - for its 40% stake and took over as operator, leaving Hyperdynamics with 37%.

asset acquisition disposition

Hyperdynamics agreed to sell Tullow Oil a 40% interest in the Guinea concession and hand over operatorship, with Tullow covering up to $100 million of future costs - a sign the company could no longer afford to fund the play alone after Sabu-1's overruns.

material agreement

NYSE warned Hyperdynamics that its stock had fallen out of compliance with the exchange's $1.00 minimum average-price standard.

listing compliance notice

Hyperdynamics raised about $30 million selling stock and warrants to institutional investors through Rodman & Renshaw, cash it needed after Sabu-1's mounting cost overruns.

material agreement

The Sabu-1 well hit mechanical problems and ballooned to an estimated $125 million ($96 million net to Hyperdynamics), straining cash reserves; the company said it would defer a planned second well and might need to sell down more of its Guinea stake to keep funding the first.

drilling progress report

The company commissioned a second, larger 3D seismic survey (about $29 million) from CGG Veritas over new deepwater prospects next to its first survey area.

material agreement

HYPERDYNAMICS CORP's securities were notified for removal from listing and registration on its exchange.

listing compliance notice

the New York Stock Exchange certified HYPERDYNAMICS CORP's securities for listing, clearing them to begin trading.

listing compliance notice

AGR signed a drilling contract for the Jasper Explorer drillship, setting up Hyperdynamics to spud its first Guinea well, Sabu-1, in the fourth quarter of 2011.

material agreement

Hyperdynamics raised roughly $137 million in a firm-commitment underwritten offering of 28.75 million shares at $5.00 through Rodman & Renshaw - by far its largest capital raise, funding the coming Guinea drilling campaign.

material agreement

Hyperdynamics hired AGR Peak Well Management to run its Guinea drilling program, at an estimated $6.8 million cost, as it prepared to spud its first well.

material agreement

BlackRock-managed funds agreed to buy 15 million shares at $2.00 in a $30 million private placement - a much larger, higher-quality investor than the company's earlier convertible-debenture lenders.

capital raising announcement

Hyperdynamics contracted PGS Geophysical for a $21 million 3D seismic survey of its Guinea concession to identify drilling targets ahead of its first well.

material agreement

Hyperdynamics collected $19.6 million in cash from Dana Petroleum, completing the farm-out sale, and separately paid $3 million to settle a dispute with seismic contractor GSI.

asset acquisition disposition

Guinea and SCS signed Amendment No. 1 to the 2006 PSC, closing out the contract-terms review that had run since 2009.

material agreement

Hyperdynamics extended exclusive talks with Repsol over a possible 37% farm-in to the Guinea concession, a second attempt to bring in a partner.

material agreement

The Dana Petroleum farm-out closed: Dana took a 23% interest in the Guinea concession and SCS became operator under a new joint operating agreement, with roughly $19.5 million due to SCS once PSC terms were finalized.

material agreement

Hyperdynamics agreed to sell Dana Petroleum a 23% interest in the Guinea concession outright, converting October's exclusivity talks into a firm sale agreement.

material agreement

Hyperdynamics signed an exclusivity agreement with Dana Petroleum, opening talks for Dana to buy a 23% working interest in the Guinea concession - its first move to bring in a partner to share well costs.

material agreement

Guinea and SCS signed a Memorandum of Understanding requiring Hyperdynamics to spud at least one exploration well by the end of 2011 and surrender 64% of its contract area - formally starting the clock on its first Guinea well.

material agreement

NYSE Amex warned Hyperdynamics it was out of compliance with continued-listing requirements after reviewing its December 2008 quarterly report.

listing compliance notice

Hyperdynamics turned to a new, costlier lender - Yorkville/YA Global - for a three-tranche, 20%-interest loan secured against its Louisiana oil leases, a sign that cheaper capital was getting harder to find.

capital raising announcement

Hyperdynamics converted all of its 2006 Cornell Capital debt to equity, becoming debt-free, and a warrant-repricing incentive pulled in $5.25 million of cash exercises.

capital raising announcement

Bought 85% of the working interest in about 1,150 acres of Louisiana oil leases with roughly 20 active wells from Rabb Resources, which stays as operator and keeps 15%. Hyperdynamics paid $100,000 and 100,000 shares at closing but must pay a further $1,150,000 and 100,000 shares within 60 days or forfeit everything already paid and lose the deal, and it carries all working-interest costs until it has put in $4,000,000.

capital raising announcement

Subsidiary SCS Corporation signed a Hydrocarbon Production Sharing Contract with the Republic of Guinea - the offshore exploration concession that would define the company for the next decade.

material agreement

the American Stock Exchange certified HYPERDYNAMICS CORP's securities for listing, clearing them to begin trading.

listing compliance notice

A Belize company owned by chairman Kent Watts' relatives (DJX Ltd) took majority voting control of Hyperdynamics by trading preferred stock for SCS Corporation - the shell that would later hold the company's Guinea oil concession.

asset acquisition disposition