Tullow looks to become official JV partner and operator by year end. Great news, as is the recent Chevron/Noble deal right next door which tempers some doubt about the geological play from critics.
http://www.chevron.com/chevron/pressreleases/article/09262012_chevronawardeddeepwaterinterestoffshoresierraleone.newsMarkets are closed today and probably Tuesday due to Hurricane Sandy...hopefully this news brings price above $1 prior to 11/11 maintaining NYSE listing. Otherwise we will see a reverse split or maybe be granted extension period due to the deal underway. Still plenty of short interest to be covered before deal is secured.
RISK:
Still some muslim tribal tension between Malinke (35% of population) and Peul (40% of pop). Conde is supported by Malinke and elections have been delayed....now expected early 2013. Conde has US/French support and is refered to as the "Mandela" of the ivory coast considering previous decades of oppressive military rule. Shareholders need him to secure re-election to promote the venture and ultimate objective- commercial discovery (assuming the JV is inked up soon).
If Conde wins, it will attract a lot of international investment over time in mining/exploration and promote the much needed general infrastructure/economy building. All necessary for successful production and sale of oil years down the road.
As stated many times, this a speculative frontier venture and investment in an emerging country. It is a venture in which success will be measured in years, not weeks or months and certainly not by emotional posts on internet message boards.
Good luck to longs!
http://investors.hyperdynamics.com/releaseDetail.cfm?ReleaseID=716737