ERHC Energy Inc (ERHE)

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related Guinea's National Assembly Opens Special Session; Priority Given to Hyperdynamics' 2006 PSC
Tuesday July 10, 7:30 am ET


HOUSTON--(BUSINESS WIRE)--Hyperdynamics Corporation (AMEX:HDY - News) announced today its sources in Guinea have confirmed that, on Friday July 6th, the National Assembly of Guinea officially opened its special session that was originally planned to be opened in early June. The special session was opened by the executive order of President Conte for a maximum period of 45 days. Through official correspondence, signed by Aboubacar Sompare, the president of the National Assembly, Hyperdynamics was notified that its 2006 Production Sharing Contract (2006 PSC) has been given a priority status for the legislative process to become a super contract, known as a "Project of Law". Today the 2006 PSC is in effect and in accordance with Guinea's 1986 petroleum code. However, a majority vote of representatives would codify this contract into its own separate and standalone Guinea law.
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When asked to comment, Mr. Famourou Kourouma, Hyperdynamics' Vice President of Guinea Affairs stated that, "Our contract is before the members of the National Assembly. It has been negotiated and debated more openly and more extensively than any contract in the history of Guinea. I am confident for a positive result."

About Hyperdynamics

Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about -Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com.

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