Consolidated Investment Analysis for Hyperdynamics Corporation Hyperdynamics Corporation (AMEX:HDY)
Company Description Hyperdynamics Corporation (AMEX:HDY) operates as an independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. It holds exploration and production license in the Republic of Guinea covering 9,650 square miles. The company was founded in 1996 and is headquartered in Houston, Texas. Hyperdynamics is committed to providing energy for the future by exploring internationally for new sources of oil and gas. Hyperdynamics was founded in 1996 and is traded on the NYSE Amex under the symbol HDY. The company is based in Houston, Texas.
Share Statistics Symbol
HDY
Beta
2.55
Current Price
$4.82
Market Capitalization:
603.92M
52 week range
$0.65 - $5.00
Outstanding Shares
124.26M
Avg Volume
986,136.00
Share Float
99.88M
Financial Summary As the company is in its development stage it has not realized any revenues yet. The company’s total operating expenses stand at $2.12 million for the quarter ended September 30th, 2010. The company’s total revenues have been decreased by 23 percent as compared operating expenses of $2.75 million for the quarter ended June 30th, 2010. The company’s total assets accumulate up to $40.77 million as on September 30 th, 2010 with highest proportion of current assets standing at $25.29 million. The company maintains good short term liquidity position with current ratio of 1.3 times. This depicts that the company maintains the current assets 1.3 times more than its current liabilities.
Latest Updates Hyperdynamics Corporation (AMEX:HDY) has recently entered in to an agreement by signing Letter of Intent with one of the largest independent oil and gas company. The LOI is a non binding agreement and both companies are in negotiations until January 27th, 2011 unless they agree otherwise. The company is currently in a production sharing contract with republic of Guinea for exploration of 210 miles of coast line to 150 miles of offshore which totals to 31,000 square miles of area. The company relinquished 70 percent of the offshore area and decided to retain 25,028 km squares of area on December 31st, 2009. In January 2010 the company sold more of its 23 percent interest in offshore Guinea PSC to Dana Petroleum PSC. Now the company has the operatorship and 77 percent participating interest in the property.
Technical Analysis Chart
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