Hyperdynamics was headed into a downward spiral over the past couple years but changed the management team in 2012 who vowed to take the company in a new direction. Hyperdynamics has a very large prospective leased area off the coast of the Republic of Guinea. In November 2012, Hyperdynamics raised $30 million in a private placement from financial giant Blackrock (BLK) which will help in preperation costs to drill for oil in late 2012. Hyperdynamics did a few surveys and believe they could be sitting on billions of barrels of oil.
As for HDY stock in 2012, It is my top stock to buy and my best trading idea. I have been trading HDY since the stock was $1.60 in August 2012 and gave it a price target of $4 – $6 for 2012. HDY hit a high of $3.63 in October 2012 and continues to trade around $3.00 as we head into 2012.
If everything goes as planned and the company does infact sit on top of a large oil pool, we could be looking at a $8-$10 stock by year end 2012 in my opinion. I gave it a target of $4 – $6 when the stock was hitting $2.60 just to be on the conservative side. Of coarse, if Hyperdynamics announces any delays or lesser oil reserves, all bets are off. Pullbacks below $2.50 should be a great buy if you are looking for an entry point. I currently own HDY stock for the long term and will buy more stock on pullbacks. If you have any questions or feel like discussing HDY stock, visit my HDY message forum thread.
Hello,
ReplyDeleteIt is now early September 2012. What are your thoughts and opinions now on the future prospects of HDY?
I have a number of shares at 1,20. I'm now just waiting for some news.
It's been a long wait.