Hyperdynamics Reports 3Q Net Loss of USD 4.4 Million. Updates on Guinea Operations
Hyperdynamics Corporation announced today that it has filed its quarterly report on Form 10-Q for the three month period ended September 30, 2011 with the SEC.
Hyperdynamics reported a net loss of $4.4 million, or $0.03 per share during the quarter, compared to a loss of $2.9 million, or $0.03 per share in the prior year period. The Company had $74.2 million in cash and restricted cash as well as $54.4 million in available-for-sale securities as of September 30, 2011.
Drilling of Hyperdynamics’ first well offshore the Republic of Guinea, the Sabu-1, is ongoing and the objective horizons have not yet been reached.
Source: Hyperdynamics, November 9, 2011