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May 5, 2005
Volume VI, Issue 43
Home Page : www.otcjournal.com
Email Questions or Comments To: editor@otcjournal.com
To OTC Journal Members:
Comments in the BLOG
There's a new BLOG entry for HYPD, now HDY. The market loves the move to the AMEX. Comments and questions and virtual high fives are welcome.
To use the BLOG, simply go to the home page at www.otcjournal.com - the BLOG will scroll down automatically on the right side of your screen. The most current journal entries appear in the middle of your screen. Check back frequently for updates particularly when stocks are moving to overbought or oversold levels or in volatile markets. Your questions and postings do not automatically appear, so don't bother posting the same question multiple times. I personally go through to moderate and respond to every question.
Update on ARIA and FHRX: The April 23rd edition with trading recommendations on ARIA and FHRX has become a big winner. The price target for FHRX was $18.80 to $19.80. The stock closed at $19.44 on Wednesday, a multi month high. Those who were in it for a trade should sell the stock now and lock in a gain of nearly 15% in two weeks.
ARIA is still alive. The stock closed at $6.96 on Wednesday, a few cents short of the $8 to $9 price target. Another day or two of momentum should put the stock in the sell zone. Keep on eye on it if you got in for the trade.
After a fairly long drought, it's nice to have a couple of profitable events to report. Here's another:
HyperDynamics (AMEX: HDY) Makes Jump to Amex and Jumps Up The Charts
HYPD became HDY today as the stock made the jump to the American Stock Exchange, the home for many progressive energy companies. The stock has moved up about 40% since the news came out, which is a welcome development for long term shareholders.
The chart is pretty schizophrenic. Based on history, the only thing I can say is that the stock is prone to long periods of quiet trading and fairly short term, abrupt moves.
The jump to the AMEX lends credibility to the company. Imagine what a partnership with a major oil company for drilling in the West African concession would do for the stock price.
At the end of the last reporting period, HDY showed $4.1 million in shareholders equity, $6.4 million in assets, and $1.6 million in cash. These numbers fall a little short of minimum AMEX requirements for listing. So how did they get there?
The last reporting period contained no revenues from their Louisiana properties. I believe the company is doing much better in Louisiana than anyone realizes. The June quarterly numbers should reflect substantial revenue generation, and I believe the AMEX recognizes this factor.
The move to the AMEX offers several benefits to shareholders. It opens the company up to a much wider variety of financing sources. It opens the stock up to a much wider audience of investors, which now includes smaller institutional fund managers. If the company is successful, the stock will trade much more efficiently with greater liquidity at an enhanced valuation.
All in all, a great move for both the company and shareholders alike. Hang in there for developments in their West African concession off the coast of Guinea. This might only be the beginning.
Here is the complete text of the news release for your review:
Press Release Source: Hyperdynamics Corp
Hyperdynamics to Begin Trading on the American Stock Exchange Tomorrow
Wednesday May 4, 1:12 pm ET
Cohen Specialists LLC Chosen to Represent
New Stock Symbol 'HDY'
HOUSTON--(BUSINESS WIRE)--May 4, 2005--Hyperdynamics Corp. (OTCBB:HYPD - News) announced today that the American Stock Exchange will begin trading its securities tomorrow, May 5, 2005. At the opening tomorrow, the trading symbol will change to "HDY."
The company's listing application was approved last Thursday. The listing remains contingent upon the company being in compliance with all applicable listing standards on the date it begins trading on the exchange and may be rescinded if the company is not in compliance with such standards.
Cohen Specialists LLC has been chosen to represent the company on the floor of the exchange.
About the American Stock Exchange
The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 155 ETFs. The Amex is also one of the largest options exchanges in the United States, trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com
About Hyperdynamics
Hyperdynamics invests in companies with substantial potential for growth. Hyperdynamics' internationally active oil and gas subsidiary, SCS Corp., owns rights to explore and exploit acreage offshore West Africa. SCS also develops and provides state-of-the-art seismic data management services. HYD Resources Corp. focuses on domestic oil field services and low-risk shallow production.
More information on Hyperdynamics Corp. can be obtained at their Web site at www.hypd.com
Safe Harbor Statement: Statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, detailed from time to time in the company filings with the SEC.
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Contact:
Hyperdynamics Corp., Houston
Kent Watts, 713-353-9400
E-mail: kent@hypd.com
or
Stock Enterprises
Jim Stock, 702-274-5400 (Investor Relations)
E-mail: stockenter@aol.com
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Source: Hyperdynamics Corp.
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