Hydrocarbon Dynamics (ASX:HCD) published its June 2023 quarterly activities report, outlining several major developments.

The company received a repeat order from Cooper Basin, and expanded its Canadian trial into regular business.

It also began a small test in North Dakota, and continues Gulf of Mexico trials on two offshore platforms.

In addition, HCD received its first purchase order from a new Texan distributor, and completed a rights issue.

At the quarter’s end, HCD had $1.37 million in cash reserves, and has no debt.

During the quarter, related party transactions accounted for approximately $82,000 in Director’s fees, and $98,000 in royalty payments.