Hyperdynamics Announces Results of 3D Seismic Tender

Monday, Jun 14, 2010

HOUSTON, June 11 /PRNewswire-FirstCall/ -- Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it has contracted with PGS Geophysical to conduct the acquisition phase of a 3D seismic survey on its offshore block in the Republic of Guinea. Following a thorough technical and commercial review of the seven bids received in the May tender, Hyperdynamics awarded the contract to the Norwegian-based firm. The 3,500 square kilometer survey will be acquired over two separate portions of the contract area with the intention of obtaining detailed imaging of the multiple prospects which were identified from the prior 2D seismic data.

The cost of the 3D seismic data acquisition is expected to be about $21 million, and work is scheduled to begin in mid-July. Onshore support will be provided by Hyperdynamics Corporation's office located in the Guinean capital of Conakry. "The 3D survey timing keeps us on track to commence drilling of our first exploration well before year-end 2011," Ray Leonard, President and CEO of Hyperdynamics, said.

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.

Source: PR Newswire