Hyperdynamics +10% after ripping Tullow's Guinea force majeure call


Hyperdynamics (HDY +10.1%) shares recover a sliver of last week's ~70% loss after the energy exploration company issues a rebuke to partner Tullow Oil's (TUWLF, TUWOY) decision to declare force majeure and suspend drilling off the coast of Guinea.

HDY says Tullow's unilateral actions were "unwarranted and untimely, and that a force majeure event has not occurred," and will provide additional communications "in an effort to recommence drilling plans."

Comments (1)
  • Len Friedman
    , contributor
    Comments (93) | Send Message
     
    A few days ago, no less than nine (9) class action suits were launched, all alleging improprieties on the part of Hyperdynamics. I've been a shareholder for a dozen years but sold off nearly all shares rather than paddling upstream against a rising tide of legal beagles. There's a very sad irony in this as I headed up the Investor Relations department for geophysicist Bob Bearnth (different company) who originally handed the Guinean exploration rights to HYPD. Bob would turn in his grave over this flap.

     

    My heart goes out to Ray Leonard as I have only good things to say about him. It's a much different story when it comes to the low light Watts brothers for whom I have no kind words. It is they from whom Mr. Leonard got the keys to Hell.
    18 Mar 2014, 10:10 PM Reply Like
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