Hyperdynamics Regains Compliance with NYSE Minimum Share Price Listing Requirement
HOUSTON, Aug. 13, 2013 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) announced today that, based on a notice received from the New York Stock Exchange (NYSE), it has regained compliance with the NYSE's continued listing standard for share price.
On May 14, 2012, Hyperdynamics was notified by the NYSE that it had fallen below the continued listing standard, which requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.
As of the close of trading on Monday, August 12, the average closing price of our common stock for the previous 30 trading days exceeded $1.00 per share. As a result, Hyperdynamics is now in full compliance with the NYSE's continued listing standards.
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 Company's website referenced in this news release contain forward looking statements regarding Hyperdynamics Corporation's future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements that include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," 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 Company's reports filed with the SEC. 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 Company's expectations with respect to these forward looking statements.