18 May 2012listing compliance notice▼ BadMajor
NYSE warned Hyperdynamics that its stock had fallen out of compliance with the exchange's $1.00 minimum average-price standard.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Feb 2012material agreement▲ GoodMajor
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.
30 Jan 2012drilling progress report▼ BadMajor
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.
23 Sept 2011material agreement● NeutralMajor
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.
18 July 2011listing compliance notice▼ BadMajor
HYPERDYNAMICS CORP's securities were notified for removal from listing and registration on its exchange.
8 July 2011listing compliance notice▲ GoodMajor
the New York Stock Exchange certified HYPERDYNAMICS CORP's securities for listing, clearing them to begin trading.
17 June 2011auditor change● Neutral
Hyperdynamics dismissed GBH CPAs - whose prior two years of opinions had each flagged going-concern doubt - and engaged Deloitte & Touche as auditor.
18 May 2011material agreement▲ GoodMajor
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.
29 Mar 2011material agreement▲ GoodMajor
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.
6 Jan 2011material agreement▼ Bad
Hyperdynamics settled litigation with J.P. Carey Securities and adjusted shareholder lock-up terms tied to that settlement.
6 Dec 2010material agreement● NeutralMajor
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.
4 Nov 2010capital raising announcement▲ GoodMajor
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.
27 July 2010material agreement● Neutral
Large shareholders agreed to a nine-month lock-up on 13.4 million shares and related warrants.
16 July 2010material agreement● Neutral
Hyperdynamics hired PGS to process the newly acquired 3D seismic data, at an estimated $2.5 million cost.
17 June 2010material agreement● NeutralMajor
Hyperdynamics contracted PGS Geophysical for a $21 million 3D seismic survey of its Guinea concession to identify drilling targets ahead of its first well.
26 May 2010asset acquisition disposition▲ GoodMajor
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.
20 Apr 2010material agreement▲ Good
Hyperdynamics raised more capital selling roughly 8 million shares and warrants through Rodman & Renshaw.
31 Mar 2010material agreement▲ GoodMajor
Guinea and SCS signed Amendment No. 1 to the 2006 PSC, closing out the contract-terms review that had run since 2009.
19 Mar 2010material agreement● Neutral
A second short extension was granted for the same PSC renegotiation.
12 Mar 2010material agreement● Neutral
Guinea granted a short extension to finish renegotiating PSC terms with Hyperdynamics.
1 Feb 2010material agreement● NeutralMajor
Hyperdynamics extended exclusive talks with Repsol over a possible 37% farm-in to the Guinea concession, a second attempt to bring in a partner.
29 Jan 2010material agreement▲ GoodMajor
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.
6 Jan 2010material agreement● Neutral
Routine office move: Hyperdynamics swapped its Sugar Land lease for a new five-year lease in Houston.
7 Dec 2009material agreement▲ GoodMajor
Hyperdynamics agreed to sell Dana Petroleum a 23% interest in the Guinea concession outright, converting October's exclusivity talks into a firm sale agreement.
3 Dec 2009material agreement▲ Good
The company raised about $6.5 million in a registered direct offering of stock and warrants through Rodman & Renshaw.
25 Nov 2009listing compliance notice▼ Bad
NYSE Amex issued a warning letter after Hyperdynamics issued new shares before getting listing approval for them - a procedural misstep rather than a financial one.
12 Nov 2009material agreement▼ Bad
Hyperdynamics sold more shares to existing investor Enable Growth Partners and again cut that investor's conversion and exercise prices to $0.95, reflecting its falling share price.
19 Oct 2009material agreement▲ GoodMajor
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.
15 Sept 2009material agreement● NeutralMajor
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.
13 July 2009capital raising announcement● Neutral
Outside counsel Patton Boggs was paid partly in stock for legal services.