Kent Watts, Hyperdynamics' Chief Executive stated, "This financing will easily support and enhance our operations currently and it positions us with the ability to swiftly mobilize our anticipated drilling program offshore Guinea. Together with equity financing already in place, we have ready access to as much as $25MM in cash liquidity. On top of this, the exercise of our outstanding warrants would effectively provide approximately $15MM of additional equity financing. Thus, without having to consummate any additional financing, we currently have a financial strategy in place with the potential to obtain up to $40MM of new capital."
Hyperdynamics Corporation provides energy for the future by exploring and developing new sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit significant acreage offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas.
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