Attached files
file | filename |
---|---|
8-K - CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES - HYPERDYNAMICS CORP | a12-12559_18k.htm |
Exhibit 99.1
NEWS RELEASE | ||
Contacts: |
Dennard Rupp Gray & Lascar, LLC | |
|
|
Ken Dennard, Managing Partner |
|
|
Jack Lascar, Partner |
|
|
(713) 529-6600 |
|
|
Anne Pearson, Sr. Vice President |
|
|
(210) 408-6321 |
Hyperdynamics Receives Notification from NYSE of
Non-compliance with a Continued Listing Standard
HOUSTON, May 18, 2012 Hyperdynamics Corporation (NYSE: HDY) announced today that, on May 14, 2012, the New York Stock Exchange (NYSE) provided notice to Hyperdynamics that it did not satisfy one of the NYSEs standards for continued listing applicable to Hyperdynamics common stock. The NYSE noted specifically that Hyperdynamics was below criteria for the NYSEs price criteria for common stock because the average closing price per share of Hyperdynamics common stock was less than $1.00 per share over a consecutive 30-trading-day period.
Under the NYSEs rules, in order to cure the deficiency for this continued listing standard, both Hyperdynamics share price and the average share price (over a consecutive 30-trading-day period), must exceed $1.00 by six months following receipt of the non-compliance notice. Its shares will continue to be listed and traded on the NYSE during this period, subject to the Companys continued compliance with the NYSEs other listing requirements.
As required by the NYSE rules, Hyperdynamics will notify the NYSE, within 10 business days of receipt of the non-compliance notice, of its intent to cure the price deficiency and return to compliance with this continued listing standard.
About Hyperdynamics
Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. To find out more, visit our website at www.hyperdynamics.com.
Forward Looking Statements
This news release and the Companys website referenced in this news release contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding Hyperdynamics Corporations future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words believes, expects, anticipates, intends, projects, estimates, plans, may increase, may result, will result, may fluctuate and similar expressions or future or conditional verbs such as will, should, would, may and could are generally forward-looking in nature and not historical facts. A number of risks and uncertainties could cause actual results to differ materially from these statements, including without limitation, funding and exploration efforts, fluctuations in oil and gas prices and other risk factors described from time to time in the Companys reports filed with the Securities and Exchange Commission, including the Companys Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2012. The Company undertakes no obligation to publicly update these forward looking statements to reflect events or circumstances that occur after the issuance of this news release or to reflect any change in the Companys expectations with respect to these forward looking statements.
# # #
HDY-IR