Hyperdynamics Corp (HDYNQ)

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PR chronology citing concession development and potential 03/2003 - 11/2009

While we are waiting for the recent 2-D interpretive information to be released to investors along with a definitive schedule for 3-D and drilling; here is a chronological recap of concession development activities and the identification of oil and gas potential from those activities 03/2003 - 11/2009.

Hyperdynamics Completes 2D Seismic Acquisition Program

SUGAR LAND, Texas, Feb 11, 2010 /PRNewswire via COMTEX News Network/ -- Hyperdynamics Corporation (NYSE Amex: HDY) today announced the completion of its 2009-10 2D seismic data acquisition program over its exploration area offshore Republic of Guinea in Northwest Africa.

The survey, conducted on the companies' behalf by Bergen Oilfield Services of Norway, entailed acquisition of just over 10,000 kilometers of 2D seismic to delineate areas of interest. Dana Petroleum and Repsol are expected to contribute their pro rata shares of the approximate $11 million total cost of the program.

"We utilized the initial data from this broad area study to help us select the most prospective offshore blocks that we want to retain for further exploration," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer. "With the 2D seismic data in hand, our next step will be to identify those areas over which we will want to conduct a 3D survey expected to get under way in the third quarter of this year."


Hyperdynamics Reports Encouraging Initial Results From Oil Seeps Study of Offshore Guinea Concession Area

SUGAR LAND, Texas, Nov 19, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it has received encouraging preliminary results from an oil seeps study of the company's 31,000-square-mile oil and gas concession offshore Guinea. The survey was conducted by TDI-Brooks International of College Station, Texas.

"We conducted this study to survey projected sites of oil seepage in three areas of our concession," said Ray Leonard, Hyperdynamics President and Chief Executive Officer. "The samples from this survey could help to confirm the existence of multiple active hydrocarbon systems.

"We are especially encouraged by the fact that the survey was able to confirm oil slicks identified by satellite imagery, and in some cases, trace them back to their subsurface origin. Both fluid samples and drop core samples were successfully obtained from the survey, and we will be analyzing them to differentiate source rock ages," Leonard said.

Hyperdynamics has contracted GeoMark Research, Ltd. to perform the analytical work on the samples collected from both the TDI Brooks offshore sampling and onshore studies conducted in conjunction with the Republic of Guinea's Ministry of Mines and Energy.

Hyperdynamics Corporation 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.


Hyperdynamics Appoints Former Amoco Executive and Proven Industry Professional Ray Leonard as Chief Executive Officer
New Leadership Prepared to Take Hyperdynamics to Next Level

HOUSTON, Jul 23, 2009 (BUSINESS WIRE) -- Hyperdynamics Corporation (the "Company") (NYSE AMEX:HDY) today announced that it has appointed Ray Leonard as Chief Executive Officer and a Director of Hyperdynamics, effective immediately.

New Hyperdynamics CEO, Ray Leonard, said, "The Company has a tremendous asset with the opportunity for world-class reserves, and I anticipate aggressively moving ahead to work with the Hyperdynamics team to conduct the further exploration and research necessary to achieve our goals and objectives."

Leonard most recently served as the Vice President of Eurasia & Exploration for the newly formed Kuwait Energy Company, the first private Arab Oil Company with significant funding and influential support. Leonard was responsible for company-wide exploration plus production in the former Soviet Union. He negotiated and completed purchases of companies in Russia, Ukraine and Latvia to form the Eurasia Division, comprising a substantial portion of Kuwait Energy's reserves. Previously, Leonard served as Senior Vice President of International Exploration & Production for the Hungarian national company MOL PLC, where he was responsible for all upstream activities outside Central Europe. During his tenure, there were acreage acquisitions in Pakistan, Oman, Russia and Kazakhstan; hydrocarbon discoveries in Pakistan and Kazakhstan; two new fields put on stream in Pakistan; and peak production (55 MBOPD) was reached and maintained in a Russian venture.

Leonard has also served as Vice President of Exploration & New Ventures for Yukos, based in Moscow, Russia, where he was responsible for expanding its operational portfolio outside the core areas of West Siberia and Samara and for negotiating contracts with non-Russian partners. He also evaluated potential ventures in West Africa and the Middle East.

Prior to joining Yukos, Leonard held the title of Vice President of Exploration with the "start-up" company First International Oil (FIOC), where he built an exploration department, ran exploration operations and negotiated Production Sharing Contracts (PSCs) with the Government of Kazakhstan. FIOC was eventually purchased by SINOPEC.

Previously Leonard spent 19 years with Amoco, where he began as a geologist and was promoted to the executive level as Vice President of Resource Acquisitions. During his tenure at Amoco, he held a three-year assignment as Division Geologist in West Africa.

Leonard holds a Master of Arts in Geology from the University of Texas-Austin and a Bachelor of Science in Geosciences from the University of Arizona. He is also a former AAPG Distinguished Lecturer on Geochemistry and a recognized authority on world oil reserves and future pricing scenarios.


Geoscientists Confirm Hyperdynamics' Positive AVO Results
Results Support Existence of Fluid in Giant Oil and Gas Field Prospect offshore Guinea

HOUSTON, Dec 18, 2008 (BUSINESS WIRE) --
Hyperdynamics Corporation (AMEX:HDY) announced today that independent geoscientists have completed test procedures that substantiate a positive amplitude versus offset result (AVO), a key Direct Hydrocarbon Indicator (DHI).

The result of the testing was corroborated between world renowned geophysical specialists in the UK, as well as by the Company's in-house geoscientists and consultants. The work was performed on the seismic data attributes associated with one of the Company's top drilling prospects offshore the Republic of Guinea. It is estimated at over 900 square kilometers in size and with an estimated 239 billion cubic meters of gross volume. The AVO+ result supports the existence of fluid within its mapped prospect reservoir.

Last month Seismic Image Processing (SIP) based in Guildford, England, performed these specialized analytical procedures on certain prospects delineated from 2-D seismic that Hyperdynamics acquired last spring. SIP's geophysical analysis included the universally accepted method of analyzing AVO. This scientific procedure looks for significant changes in seismic data attributes which reflect changes in amplitude. The process also involves ascertaining rock physical properties germane to reservoir targets. AVO and EEI (Extended Elastic Impedance) attribute analysis are widely accepted scientific methods to determine if a prospect has technical merit or reflects a seismic signature known as a Direct Hydrocarbon Indicator (DHI) which is indicative of fluid filled reservoirs. In the case of Hyperdynamics' 2-D AVO efforts, the positive results provide additional merit to move forward aggressively with the exploration program. These results significantly reduce exploration risk and offer additional scientific evidence for interested joint venture partners to consider.

Hyperdynamics acquired approximately 2,880 kilometers of new 2-D seismic during the spring of 2008 and was able to confirm several and find many additional prospects from its 2008 data which volumetrically have the potential to hold world class reserves. The 2008 seismic data acquisition was focused along the Transform Margin Play of the Bove Basin, a sub-basin of the larger Senegal Basin running through Hyperdynamics' 80,000 square kilometer (31,000 square mile) concession area offshore the Republic of Guinea, West Africa. In the last few years there have been approximately eight billion (8,000,000,000) barrels of oil equivalents proven along the West African Transform Margin beginning offshore Benin and moving up the coast northward towards Guinea


Hyperdynamics' Geosciences Team Triples its Prospect Portfolio and Maps a Super-Giant Size Structure
Double Shelf-Slope Break Discovered Offshore Guinea

HOUSTON, Oct 06, 2008 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that its geosciences team's interpretive work, completed so far this year on its 2008 2D seismic, has at least tripled its total number of prospects over what was known from earlier work. Both Structural and Stratigraphic prospect types exist and run along the slope-shelf portion of the West African Transform Margin Play that runs through the Company's 31,000 square mile (80,000 square kilometer) contract area offshore Guinea. Beginning as far south as Benin and moving up the West African coast in this fairway, there have been at least 40 discoveries in recent years with oil equivalents of over eight billion barrels proved thus far.

The structural type prospects delineated so far include 15 very large structures with fault based hydrocarbon trapping confirmed for each prospect. Due to the prevalent existence of the transform marginal faulting, some prospects have been interpreted to have 3-way closure while others have 4-way closure. Using the volumetrically based classifications documented by the renowned Geologist, Mr. Michael Halbouty, each of these prospects, if filled to the spill point, have world class potential ranging from "Giant Field" size to even one "Super-Giant Field" potential, thus far.

When asked to comment, Mr. James R. Spear, Hyperdynamics' Executive Vice President of Exploration and Production stated, "As we were continuing to map and otherwise delineate our drilling targets we have now refined our geological modeling for our expanding portfolio of prospects. During our work this year, we came to the new understanding that we have both an inboard and a separate outboard double shelf break. This has served to increase the number of prospects along this most prevalent transform margin fairway running through our contract area. In addition to our growing number of Structural type prospects there are now also two Stratigraphic type models that we have. These are the Turbidite Depositional types and Apron Fan models. We are continuing to map these type prospects and they are very significant as well." He went on to say, "It is interesting for me to recognize that making a discovery with any of our major prospects and realizing their volumetric reserve potential would place us among the most successful exploration and production companies operating offshore West Africa."

All of the exploration work accomplished this year has built a strong scientific foundation to merit the acceleration towards drilling. With this interpretive work completed and additional analytical procedures ongoing, the Company has now fine tuned its understanding for conducting the first 3D seismic program in history offshore the Republic of Guinea. This is the next important step to have targets with world class potential ready to drill. As anticipated they have now been able to design three separate 3D seismic grids that total approximately 4,100 square kilometers. The 3D data acquisition is scheduled to begin at the end of 2008.

Moving forward Hyperdynamics is now using its updated technical foundation to attract joint venture partners. Top executives from the Company are now attending the 15th Africa Oil Week in Cape Town, South Africa. This is the world's largest and most significant exploration and development event on Africa for the global oil exploration and gas-LNG industry. The Company will be continuing to meet with top executives of many oil operators as it moves forward offering working interest in its 31,000 square mile (80,000 square kilometer) exclusive contract area.


Hyperdynamics Gives Update for its 2008 Joint Venture Opportunity for Exploration Offshore Guinea
Strong interest is generated as JV opportunity brochure is published

HOUSTON, Sep 09, 2008 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that in the last few months it has been presenting an increasing number of in-depth technical presentations to interested potential joint venture and financial partners. The Company has recently presented to four different independent exploration and production companies, three national oil companies (NOCs), and two potential financial partner firms. Hyperdynamics is now following up with over two dozen potential partners so far that have expressed serious interest in participation.

When asked to comment, Kent Watts, the Company's Chief Executive said, "Our drilling targets with the most significant volumetric calculations for potential world class reserves reside along the transform margin of the shelf-slope complex in our concession. These targets have water depths that range from 1,000 to 2,500 meters. While we have targets in the shallower areas of the concession, the largest reserve potential at this time appears to be along this shelf-slope region. Industry practice will typically dictate the alliance of partners to spread the cost of drilling these type prospects. However, with the potential we have, the estimated returns are more than commensurate." He went on to say, "In recent months, our international business attorneys at Patton Boggs have broadened their scope and are supporting our efforts to attract partners. Interest to date has been strong with joint venture activity."

The Company asks its shareholders to stay abreast of the Company's news and filings with the SEC. A copy of its newly published brochure may be found at:

http://www.hyperdynamics.com/media/HDY-JV-Partner-Opportunity-Brochure-082208.pdf


Patton Boggs Joins Hyperdynamics to Support JV Partner Program

HOUSTON, Jul 21, 2008 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced that it has signed a new and more comprehensive engagement with the renowned Washington-based lobbyist law firm of Patton Boggs LLP. Hyperdynamics had originally engaged Patton Boggs over a year ago but the scope of the representation was primarily focused on helping the company develop more extensive relationships with officials in Washington. Given the success of that endeavor and based on the experience gained together over the last year, this new engagement is designed to greatly expand the role of Patton Boggs so that it can comprehensively support Hyperdynamics' currently increasing efforts to secure Joint Venture Partners and Financial Partners for exploration offshore Guinea.

Within the broad scope of the engagement, Patton Boggs will document the legal and political foundation as well as the government relations aspects of Hyperdynamics' international business as they relate to the company's exclusive rights to its 31,000 square mile oil and gas concession off the shore of The Republic of Guinea, West Africa. A comprehensive supportive document will be prepared for review by any interested Joint Venture Partners that the Company is now or will be marketing to for a working interest share in its concession. Patton Boggs will act as the Company's primary advocate for all such related issues. Additionally, the firm will be involved in significant lobbying efforts to help continue to enhance the great relations already in place between The Republic of Guinea and the United States Government, with ongoing efforts to continually strengthen those relations.

The core team of attorneys working on this engagement consist of: Mr. Michael J. Driver, a partner in the firm with specialization in Energy and Natural Resources, International Business, and Capital Formation (http://www.pattonboggs.com/mdriver/); Mr. Jude Kearney, chair of the firm's international business section, who specializes in project finance, international business, and corporate finance, with in-depth experience working in Africa (http://www.pattonboggs.com/jkearney/); and Mr. Chris Bell, a former U.S. Congressman from Texas with significant specialization in public policy (http://www.pattonboggs.com/cbell/).

When asked to comment, Chris Bell stated, "Hyperdynamics has continually made great progress on their most significant endeavor to make a world class petroleum discovery and at the same time work to dramatically help a small country. This is indeed a rare opportunity to be part of something so very unique and worthwhile. It will be intriguing to play a bigger role on the team as they start to sign up joint venture partners and begin drilling offshore Guinea."

Notably, the entire resources of this renowned law firm will be made available to support this engagement.

About Patton Boggs

Patton Boggs is the nation's leading public policy law firm. It began as an international law firm concentrating in global business and trade in 1962. Since the beginning, the firm has maintained a reputation for cutting-edge advocacy by working closely with Congress and regulatory agencies in Washington. It is among the first law firms to recognize that all three branches of government could serve as forums in which to achieve client goals enabling the firm to develop its extensive business law capabilities into the firm's largest practice area.

Patton Boggs has maintained a reputation for cutting-edge advocacy by working closely with Congress and regulatory agencies in Washington, litigating in courts across the country, and negotiating business transactions around the world. While Patton Boggs has maintained a strong concentration in international and trade law, it has evolved beyond its roots to become a full-service firm with a national presence in every major area of legal representation. To find out more about Patton Boggs, visit their website at http://www.pattonboggs.com.


Hyperdynamics New Seismic Supports Structural, Stratigraphic, and Combined Plays; Potential Oil Columns Estimated in Excess of 1,000 Feet

HOUSTON, May 02, 2008 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that as described by Mr. James R. Spear, the Company's Executive Vice President of Exploration and Production, three types of prospects are being identified by the new seismic. These plays can be categorized by the hydrocarbon trapping mechanism delineated by the geophysics of the current 2-D data now being acquired. These three types include structural, stratigraphic and combination structural-stratigraphic. More detailed information is provided by the Company at: http://www.hyperdynamics.com/africa_exploration.htm .

The structural traps are typically large anticlinal structures located on the shelf/slope break. This type of trap is located in the Lower Cretaceous section. As disclosed in a press release last week, the structural traps delineated so far have been determined to have four-way closures and are measuring greater than 16 kilometers in length with two adjacent structures combining at a size of 33 x 8 kilometers. These structures delineated so far, if filled to the spill point, would offer high quality giant reservoirs with large oil columns greater than 1,000 feet.

The second play type is stratigraphic, typically being turbidite mounds and fans. These features are numerous through the total extent of the concession area which is over 31,000 square miles in size. These fans and/or mounds occur within the Upper Cretaceous section and are currently the focus of many of the operators within the Transform Margin Play of West Africa, where as many as 40 discoveries have been made in the last few years. To date, Hyperdynamics' geoscientists have identified numerous drillable fans within its repertoire of prospects of this type. This stratigraphic play type is typically located along the shelf-slope break or flexure zones.

The third type of play is characterized as being the stratigraphic-structural combination type trap and there are many examples of this throughout the concession. Regarding this, Mr. Spear said, "This play typically occurs within the Upper Cretaceous section although some have been identified within the Lower Cretaceous within the boundaries of our concession."

According to Jeff Sprain, Exploration Manager for Hyperdynamics, "our concession is like a Super Bowl of world-class prospects contained within the confines of this largest of West African continental shelf regions. The prospect portfolio continues to enlarge itself with its new 2D regional lines that are providing the basis for our planned 3D seismic program to follow this year."


Hyperdynamics' New Seismic Confirms Giant Structures in West African Oil and Gas Concession
Two adjacent structural prospects combine at over 33 x 8
kilometers in size

HOUSTON, Apr 25, 2008 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced that as its 2-D data acquisition continues offshore Guinea, new seismic lines are already providing geophysical confirmation of the most significant play types along the West African Transform Margin play where as many as 40 discoveries have been made in the last few years. Hyperdynamics is engaged in a targeting process with its currently working 2-D seismic acquisition program offshore The Republic of Guinea, West Africa. New 2008 seismic lines are now becoming available for comparison with both the Company's 2002 and 2003 seismic data. This comparison is allowing the geo-science team to confirm and enhance critical aspects of many leads that had been initiated with the older seismic.

The Company's geoscientists continue to build a portfolio of stratigraphic-type plays within the Upper Cretaceous section of the Shelf/Slope region of its concession. The targets in the Upper Cretaceous zone consist of turbiditic slope-fans and mounds which are the type of structures in which several oil and gas operators have already made many discoveries along the West African coast. Newly acquired seismic lines have already added support for many of these previously identified targets of interest.

Additionally, with the new 2008 seismic data starting to be received, confirmation has been made of the deeper, very large structural traps being delineated within the Lower Cretaceous section, and further evidence now exists to support the immense size of these structures. Previously disclosed in the last few months, the Company had identified a structure 16 kilometers across. At this time, an adjacent structure has been delineated further that is estimated to be 17 kilometers long and approximately 8 kilometers wide. The combined size is estimated at approximately 33 kilometers by 8 kilometers. Over the next few months many new leads are expected to be identified at the same time existing leads will be high-graded and confirmed. With the additional reconnaissance provided by the current 2008 2-D acquisition, the preliminary 3-D seismic grid, laid out this last winter, can be customized to cover the most interesting prospects that are believed to have the greatest potential for world class reserves. The Company looks to acquire the first 3-D seismic in history offshore Guinea later this year. Once this 3-D can be acquired, processed, and interpreted, the Company expects to have a significant portfolio of prime drillable prospects ready to drill.


Hyperdynamics Documents Evidence of Oil Prone Hydrocarbon Systems Offshore Guinea

HOUSTON, Nov 26, 2007 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) reported today that the interpretive work of its geoscientists led by Jim Spear, Hyperdynamics' Vice President of Exploration and Production, has documented evidence for the potential of several oil prone hydrocarbon systems within the extensive Shelf Slope Area located in its concession offshore the Republic of Guinea, West Africa.

Hyperdynamics began exploring offshore Guinea in 2002 when the price of oil was less than $20 per barrel. Based on its work since, the Company is now engaged in exploration efforts that are focused on the numerous prospective plays that have been identified.

Historically, only one exploratory well has been drilled to date on the entire 31,000 square mile concession. While this well (the Buttes #1), drilled in 1974, was abandoned, Hyperdynamics determined that it was poorly located and actually drilled on top of an igneous intrusive (volcanic-like structure). The well was not drilled on the more potential basins within this study area that Hyperdynamics has determined to hold potential for substantial future reserves. The well data also contributed to the identification of several hydrocarbon systems within the shelf/slope sedimentary complex.

The Company's work has confirmed that its concession actually contains one of the very largest continental shelf/slope areas among all the nations along the coast of West Africa. Recently, a new reconnaissance of 2-D seismic interpretation, together with additional studies of the reservoir potential and geochemical information obtained from independent vendors, supports solid evidence to confirm substantial hydrocarbon potential for this offshore province. Numerous Mesozoic basins have been identified in this process.

These newly identified basins were differentiated into two clear cut zones of interest. First, a syn-rift zone was interpreted, followed by a passive margin zone. Both zones of potential reserves exhibit significant evidence of overprinting by wrench-type faulting of the kind associated with the known Atlantic transform fault systems in this area, such as the Cape Verde Transform Fault. This type of faulting establishes the trapping mechanism that could trap a reservoir. The main rift phase is believed to have been accompanied by continental to marginally marine sedimentation that took place during the Lower Cretaceous Aptian to Middle Albian time. The passive margin and wrenching phase was initiated with seafloor spreading that began in Late Albian time and continues to the present.

The Company believes that the seismic interpretation and analysis coupled with these geological facts lays the foundation for a unique portfolio of most promising targets. There are both stratigraphic and structural types of trapping potential along with possible turbidite slope fans within the Lower Cretaceous section.

The Company's most recent work corroborated with its historical library of geophysical and geological database, support that the primary petroleum systems contain at least three oil-prone, marine, and lacustrine (lake-like) source rock zones deposited during Lower Cretaceous time (Early Albian to Early Cenomanian). It is believed at this point that a secondary petroleum system may have a Late Cenomanian to Turonian shale source rock. The trap types are numerous and relatively widespread, in particular, those associated with Mesozoic/Cretaceous syn-rift basins and transform related faulting and unconformities. The traps on the shelf/slope and within the newly identified basins on the shelf are ideally located for access to oil migration.

As announced with its accelerated exploration program, in 2008, the Company will further delineate its targets into drillable prospects with a new extensive 2-D seismic survey of approximately 12,000 linear kilometers. The Company is also working on 3-D acquisition parameters to cover certain areas. Hyperdynamics plans, at the same time, to reprocess a large library of 1970's 2-D seismic coupled with newly purchased 2-D seismic from third party vendors. Additional planned exploration procedures include a new drop core (or piston-core) acquisition to be followed by geochemical analysis. The Company plans to extend this investigation to the onshore Bove Basin of the Republic of Guinea.

Mr. Jim Spear stated that, "We are encouraged and moving our exploration program forward aggressively. We are meeting with seismic vendors and exploiting other resources currently. Our goal is to develop a portfolio of drillable prospects in a matter of months going forward and we plan to give regular updates as we continue to our progress."


Hyperdynamics' Exploration Program Focusing on Transform Margin Play; Numerous Potential Targets Newly Identified

HOUSTON, Nov 07, 2007 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that as a result of the company's 2007 exploration program, numerous leads, approximately 25 so far, have been identified as potential drilling targets. Based on the work of the company's geoscientists beginning last August, many new technical developments have been uncovered by a process of further seismic interpretation. Of significant interest, the company is encouraged to see potential development in the Lower Cretaceous section where most of the West African oil has been found to date, but additionally, there is the potential to explore deeper in the syn-rift Mesozoic basins within the Paleozoic section.

When asked to comment, Mr. James R. Spear, the Company's Vice President and Chief Geophysicist stated, "The most important thing to understand at this point is that our niche area is the transform margin play offshore the Republic of Guinea. Over the last three years, this play has resulted in at least 37 new field discoveries offshore West Africa. "


Hyperdynamics Selects James R. Spear as SCS's VP and Chief Geophysicist
Company continues to accelerate exploration efforts

HOUSTON, Nov 05, 2007 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that its wholly owned subsidiary has engaged Mr. James R. Spear as a new Vice President and Chief Geophysicist. In a press announcement on October 17th a board level decision was revealed with a strategy to bring its core exploration talent in-house and to build world renowned oil and gas exploration experience from the board of directors on down.

When asked to comment, Mr. Spear stated, "Hyperdynamics' exploration efforts offshore Guinea present a unique opportunity to apply my geological and geophysical expertise. The Republic of Guinea offshore represents one of the few unexplored shelf areas remaining in the world today. Over my career I have been part of many successful exploration efforts with both majors and independents alike. These efforts resulted in major discoveries."

Kent Watts, Hyperdynamics' Chief Executive commented that, "Jim is unique in that he has worked successfully in 42 major hydrocarbon basins around the world. His depth of experience is what we have been looking for. He represents someone that rolls his sleeves up and gets the job done. Jim is the type of executive that will fly to the drilling rig to be sure the well is successfully drilled and completed. We are very pleased to have him as a key member of our exploration management team. Working closely with Jim, the shareholders can expect regular technical updates as our exploration efforts advance."


Hyperdynamics Severs History With USOil, Realizing Positive Disposition of Lawsuit
Guinea's National Assembly to Consider ''Project of Law'' This Week

HOUSTON, Jun 04, 2007 (BUSINESS WIRE) -- Hyperdynamics Corporation (AMEX:HDY) announced today that its wholly owned subsidiary, SCS Corporation has realized a positive disposition of its lawsuit against USOil Corporation (USOil).

The case, which was filed July 29, 2005, was dropped after USOil made admissions before the court regarding the old and now defunct 2002 Production Sharing Agreement (2002 PSA). The admissions effectively sever any and all ties Hyperdynamics once had with USOil in conjunction with the old agreement that Hyperdynamics once operated under for oil and gas exploration and production offshore the Republic of Guinea. On September 22, 2006, Hyperdynamics signed a new 2006 Production Sharing Contract (2006 PSC), a contract which USOil has no interest in. Also, as a result of these admissions, the Company's legal counsel has determined that any previously reported contingent liabilities pertaining to the old agreement are now gone completely.

The Company's management remains intently focused on its work under its 2006 PSC. It was previously reported on May 22, 2007 that Guinea's National Assembly called for a special session to begin this week to complete its "Project of Law" process for the 2006 PSC. Entirely at their leisure and discretion, the elected representatives of the National Assembly use this legislative process to study major contracts and fully understand the impact on their country. With a positive vote by a majority of the members, the 2006 PSC would become a new "Project of Law", while remaining in accordance with the existing Guinea law known as the 1986 petroleum code, just as it is today. This contract represents the largest oil and gas exploration concession offshore West Africa.


Hyperdynamics' SCS Corporation Chooses Its First Two Targets to Drill in its West African Concession
CEO Speaks of Environment Impact Assessment and Other Work Being Done in Preparation for Its Drilling Program

HOUSTON--(BUSINESS WIRE)--April 7, 2005-- Hyperdynamics Corporation (OTCBB:HYPD - News) announced today that its wholly owned subsidiary, SCS Corporation (SCS) has expanded its use of the latest reflection seismic technology in establishing two drilling targets. The Company is focusing on natural gas strata where specific seismic reflection characteristics are occurring. The results of these latest tests have accelerated the company's planning and have led to the selection of two primary drilling targets where it looks to discover commercially viable hydrocarbons.

In the process of formulating its plans for drilling these two targets, consideration was given to water depth as well as the size of the potential. The first target is in shallow water of less than 400 feet and has a drilling depth of approximately 4,000 ft. This target contains a particularly large zone identified using the latest seismic attribute technologies that specifically identified Delta "forsets" on an ancient buried slope. The structure is 1.5 miles wide and runs 15 miles along the continental shelf. The zone is estimated to be approximately 450 feet thick. The direct hydrocarbon indicators observed on the SCS coverage are typical of gas filled sands observed in most other Deltas around the World. It is believed that since the shallower gas target lies in the vicinity of deep seated fault conduits, it may also contain oil which has migrated from below. Both oil and gas are considered important for local major industry in the region. Estimates calculate possible gas reserves of 550 billion cubic feet of gas in this one structure.

The second structure is in approximately 600 feet of water and has a maximum drilling depth to reach the trap(s) of approximately 10,000 feet. This target will require a heavier floating rig and will cost more to drill. However, the target is much larger and occurs in four different identified zones, all of which could be reached with a single well. It covers an area of approximately 50 square miles.

When asked to comment, Mr. Neil Moore, President for SCS stated, "We fully expect to discover oil in our concession, but natural gas is easier to identify. The properties of natural gas make it show up much more clearly. In our shallow target we feel this gives us a high probability for a discovery." He further commented, "In our deeper target, we are mostly looking for oil. It is interesting to note that if we estimate an average 200 foot thickness for each of the four zones, together with a conservative 12% porosity, the net porous cubic feet would be sufficient pore space to hold approximately 2 billion barrels of oil."

When asked to comment, Kent Watts, Chief Executive Officer for Hyperdynamics stated, "We are moving fast with our planning for drilling our initial prospects. Along with selecting our targets, we are doing the preliminary work necessary, including the implementation of an Environmental Impact Assessment for the region." He went on to say, "Additionally, over the last three months we have been contacted by more than a half dozen oil and gas companies that are in the process of analyzing the opportunity to join our endeavor in some respect. As we move forward towards drilling on our own, we will continue to consider transactions with exploration, production, and/or drilling companies that are genuinely interested in our project."


Petroleum Geo-Services -PGS- Reports Its Results to Hyperdynamics Corp.
Five Sizeable Leads Covering More Than 700 Square Kilometers Were Identified

HOUSTON--(BUSINESS WIRE)--Jan. 14, 2005--Hyperdynamics Corp. (OTCBB:HYPD - News) announced today the results of Petroleum Geo-Services' (PGS) seismic interpretation project. The project included the independent interpretation of Hyperdynamics' 5,000 line kilometers of modern 2D data, a historical study of the regional geology and the evaluation of other technical data.

PGS interpreted that the potential exists for mature source rock in the Lower Cretaceous. Five main leads covering more than 700 square kilometers were identified and mapped within various stratigraphic intervals based on anomalous amplitudes. The size of one of the largest leads is undetermined because the lead continues beyond the existing 2D seismic coverage. The leads are at various depths, and in one location three leads can be tested with a single well.

Seven geological horizons were interpreted by PGS. SCS Vice President Robert Bearnth said, "By identifying the various stratigraphic horizons, we are better able to understand the geology and potential prospectivity based on our experience worldwide."

SCS President Neil Moore stated, "The results of the PGS report provide independent confirmation of the high prospectivity of our concession in West Africa. PGS focused in on five of the numerous leads identified internally. We are thrilled that their work has confirmed and expanded on our internal assessments. I would also point out that this project only covers a fraction of the entire concession."

Tom Ziegler, head of MultiClient New Ventures, EAME (Europe, Africa and Middle East) for PGS Marine Geophysical, stated that, "PGS is very pleased to have been able to work with Hyperdynamics on their offshore West African project. Based on the work performed and the results derived, PGS is strongly encouraged that additional work programs should be conducted to further develop the understanding of this underexplored area."


Hyperdynamics' SCS Satellite Study Reports 108 Oil Slicks
Study Confirms and Corroborates Working Petroleum System

HOUSTON--(BUSINESS WIRE)--Dec. 9, 2004--Hyperdynamics Corp.'s (OTCBB: HYPD - News) SCS Corp. announced today that Infoterra, the European satellite imaging company contracted to provide a "Global Seeps Study" over the SCS concession, has completed its work. The results showed that 108 oil slicks were identified over the offshore concession area.

Each slick was identified using satellite imagery taken on different dates. Some of the images were recorded years apart. Every slick was identified by at least two satellite passes using multi-temperal ERA and Radarsat SAR (Synthetic Aperture Radar) data. Infoterra was able to confirm that, of the 108 slicks, as many as 98 were of natural origin.

SCS President Neil Moore said, "The satellite study is an integral part of the exploration process and is a proven method for the investigation of offshore oil seeps. The study plays an important part in exploration by helping to define a basin's prospectivity." Moore further stated, "Infoterra's study has provided additional corroborating evidence of a working petroleum system within our concession."

For more information on satellite seep studies, the company directs you to its new PowerPoint presentation "Understanding Satellite Seep Studies" at http://www.hypd.com/powerpoint.htm


Hyperdynamics' Subsidiary SCS Provides Scientific Evidence for Oil and Gas in Its Concession Offshore West Africa
Statistical evidence supports a deep oil-dominated petroleum system

HOUSTON--(BUSINESS WIRE)--Oct. 14, 2004-- Hyperdynamics Corp. (OTCBB:HYPD - News) today announced that it has received the results of its most recent coring and geochemical analysis program. The results of the analyses revealed that 55 of the 57 core samples contained thermogenic petroleum components in varying degrees of concentration.

As originally reported in April, the company began planning for a geochemical analysis. As a result, TDI Brooks International Inc. was contracted in July to perform a heavy piston coring program and then analyze the core samples, reporting the results back to SCS' geo-experts. On Sept. 7, 2004, it was announced that 57 core samples had been acquired and were delivered to TDI Brooks laboratory in College Station, Texas. Since that time, extensive geochemical analyses have been performed on the core samples including Total Scanning Fluorescence (TSF), Hydrocarbon Gas Chromatographic and Interstitial Gas. Such analyses and other procedures were performed on the core samples to evaluate each core for the presence of migrated mature hydrocarbons.

When asked to comment on the results, Neil Moore, president of SCS, stated, "We were very excited to see spectral analyses indicating petrogenic gases as well as a broad range of florescent spectra representing hydrocarbon liquids. This means that we now have scientific evidence proving the existence of an oil and gas system in the concession." He went on to say, "Most exciting to me is the fact that the program revealed high-quality Chromatograph and Florescence results. These results showed the existence of oil and gas around major fault lines that reach the surface at key structural points. We are extremely satisfied with these test results."

Robert Bearnth, executive vice president of exploration for SCS, explained, "Numerous shows indicated statistical evidence of a deep petroleum system dominated by oil. Furthermore, the presence of rich natural gas components could be a source of fuel for generating electricity that is greatly needed in the region."

Kent Watts, chairman and CEO of Hyperdynamics, stated, "Our coring program is a huge success. As we continue to build corroborating evidence for commercial hydrocarbons, the value of our concession continues to rise. This additional scientific evidence gives us the impetus to move expeditiously towards a 3D seismic shoot and drilling program."

For more information about the coring and analysis process, please visit the company's online presentation at:

http://html.producerhosting.com/hypdhtmlview/Coring_files/Default.htm


PGS Completes Phase I of Seismic Interpretation
Technical Consensus Reached for a Working Petroleum System Hyperdynamics' CEO Says Asset Value Continues to Grow

HOUSTON--(BUSINESS WIRE)--Aug. 24, 2004-- SCS Corporation, the energy subsidiary of Hyperdynamics Corporation (OTCBB:HYPD - News), awarded a contract for 3rd party interpretation services to Petroleum Geo-Services (PGS) on August 6, 2004. PGS has worked diligently since that time and completed phase I of the contract interpretation work. PGS has now gathered all of its information and interpreted data and traveled back to London. Over the next several weeks they will be completing their analysis and final reports. In the process of completion, they plan to integrate other West African known geological information as well as the specific results expected shortly from SCS's geochemical coring program being performed by its contractor TDI-Brooks.

On August 19th a preliminary report was given to SCS management and Hyperdynamics' CEO. When asked about the content of the preliminary report, Robert Bearnth, EVP of Geology, said that "it is very nice having an independent geological team corroborating our findings. The consensus now is that there is everything required in the region to support commercially viable hydrocarbons. All information which we have reported on before is being supported, even to the extent of agreeing wholeheartedly that there is indeed a working petroleum system throughout the concession. This system includes significant hydrocarbon sources, structures, fault migration paths, reservoir and potential traps. We also have conclusive evidence of three ancient deltas with very thick sedimentary deposits. There is additional consensus that gas seeps reported on earlier are of hydrocarbon origin."

Mr. Kent Watts, CEO for Hyperdynamics stated that, "PGS's preliminary report could not have been more positive. All of our exploration work is continuing to grow our asset value. It is mind boggling to me that this value has not yet been reflected in our share price. However, I am confident that our consistent progress will ultimately correct this market disparity."

About PGS

PGS is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS also owns and operates four floating production, storage and offloading units (FPSOs). PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services visit www.pgs.com.


Highly Prospective Trends Reported by HyperDynamics' SCS Subsidiary as Spectrum Concludes Processing
SCS VP Robert Bearnth Reports Growing Support for Major Hydrocarbon Sources

HOUSTON--(BUSINESS WIRE)--March 22, 2004-- HyperDynamics Corporation (OTCBB:HYPD - News) announced today that SCS Corporation, the company's wholly owned energy subsidiary, has reached a major milestone with the completion of the reprocessing work performed by Spectrum Energy and Information Technology, Inc.

SCS's state of the art data acquisition and processing work on 5,000 kilometers of digital long-array seismic has been completed together with initial interpretations by SCS's geo-scientists. This milestone represents a culmination of work that began offshore the Republic of Guinea, West Africa in early 2002.

Neil Moore, President of SCS, stated, "Prior to our work, the basic view of geologists worldwide was that the area offshore Guinea was considered to lack petroleum potential. We believe we have evidence to completely turn that view upside down. To date, we have uncovered four (4) highly prospective trends that are being mapped to help us pinpoint numerous potential drilling prospects. Our work increasingly supports the viability of commercial hydrocarbons offshore Guinea. The existence of gas is now confirmed as seeping into the ocean in 'plumes' at significant locations within the concession. We have also observed that the surface trends that have been found are consistent with fault 'chimneys' on the latest seismic coverage. These 'chimneys' reach depths that are favorable for oil. Furthermore, the subsurface features being mapped tie exactly with surface features of satellite photos reported on earlier. It is genuinely exciting to watch this picture being painted frame by frame."

SCS's work provides clear evidence of major Delta Fans in extensive trends offshore Guinea. Such Deltaic features around the world are normally rich in deposits favorable for hydrocarbon reservoir development. In addition to the gas seep trends that are in 50 to 100 meter water depths, SCS geoscientists have evidence that rapid sedimentation of major tributaries across the Delta has weighted the outer shelf. Robert Bearnth, Senior Vice President of SCS, stated, "This has created massive residual structures at the shelf edge. These features are set along the current Guinea continental shelf in an extended semi-circular ring. The seismic data indicates that a carbonate reef developed at an earlier age in this zone. It is now situated 4,000 meters below the surface along at least 50 kilometers of an ancient shoreline. The indications are growing that there are many traps at different ages and more than adequate source rock to create major sources for hydrocarbons."

Kent Watts, HyperDynamics' Chairman and CEO, said, "We now have an abundance of quality data that geoscientists can sink their teeth into. We believe that the processing, reprocessing, analysis and interpretation of this data will be ongoing and continue to benefit us for years to come. This major accomplishment lays the foundation necessary for us to move forward toward drilling the first exploratory wells offshore Guinea."


Positive Results Emerging with Seismic Processing at HyperDynamics' SCS Energy Subsidiary
Excitement is Building as 25 New Locations, Believed to Be Gas Seeps on the Sea Floor Offshore Guinea,Are Reported

HOUSTON--(BUSINESS WIRE)--March 8, 2004-- HyperDynamics Corporation (OTCBB:HYPD - News) announced today SCS Corporation's continued reprocessing of the 2D seismic acquired in late 2003 is on schedule at Spectrum Energy and Information Technology, Inc. Significant information is emerging to support the viability of previous targets and the ongoing work is continuing to reveal many new targets. As the processed data is emerging and interpretation continues, the exploration team's excitement continues to grow.

When asked to comment, Neil Moore, President of SCS stated, "Bob Bearnth and Dr. Hong both agree that the latest processed data confirms that numerous surface seeps over the concession have not only created physical anomalies on the sea floor, but show conditions that indicate there are gas plumes in the water. We believe this is indicative of the presence of hydrocarbons." He further stated, "From the new seismic we have recently pinpointed 25 additional indications of gas seeps spread out over the concession as we continue to map locations of potential drilling targets. Visible breaks in the sea floor associated with acoustic reflections in the water and fault chimneys that include adjacent charging sediments altogether support our interpretation for these gas seeps. We have also correlated these new points of interest with fault lines previously revealed in satellite photos covering prospective areas. This new information together with previous AVO analyses performed by Dr. Hong strongly indicates the existence of gas. There is now strong merit in performing the necessary work to gather physical evidence in proof of our interpretation. We look to achieve this very soon."

Kent Watts, Chairman and CEO said, "Previously obtained evidence of hydrocarbons is being corroborated and enforced as new potential drilling targets are emerging almost daily. As we are continuing to receive the necessary financial support, we could not be happier with the interpretive results of our data thus far and can't help but be overwhelmingly optimistic about the future."


Geo-Experts Moore & Bearnth Are Re-Signed at HyperDynamics' SCS
Company Extends Executive Management Contracts As Positive Processing Results Begin to Emerge

HOUSTON--(BUSINESS WIRE)--Feb. 5, 2004--HyperDynamics Corporation (OTCBB:HYPD - News) announced today that its energy subsidiary, SCS Corporation (SCS), signed employment agreements with the company's geo-experts, Neil Moore and Robert Bearnth, to continue for another two years each as SCS's President and Vice President, respectively.

Mr. Neil Moore, President for SCS, stated, "Bob Bearnth and I are thrilled to be right in the middle of the hydrocarbon development program in Guinea. Since we started in 2001, we have uncovered significant evidence for commercially viable hydrocarbons there. We expect our work this year will lead to a drilling program and we are both genuinely excited about taking the next step."

Mr. Bearnth, Vice President for SCS, stated, "I have recently enjoyed technical collaboration with Spectrum regarding the current processing program. The initial results of a new 2003 line, which is parallel to the 2002 line #3, revealed the same geological footprint across two of the significant structures we identified last year. This confirms that these particular structures are at least one mile wide and six miles long. Our geological analysis is literally taking on a three dimensional form." He further stated, "We are eagerly awaiting Spectrum's processing to be completed so we can commence our detailed interpretation and analysis."

Kent Watts, Chairman and CEO of HyperDynamics, said, "It is a major advantage to have two experienced geo-experts such as Mr. Moore and Mr. Bearnth working with us. Their historical perspective and breadth of knowledge guides us as we continue to build our exploration team. Such a team will ultimately make collaborative decisions such as exactly where to drill the first exploratory well." Watts also made the comment asking shareholders to, "Please stay abreast of our news as we are continuing to be successful in raising necessary capital through private transactions. As such, we continue to meet all of our financial obligations currently and we are making operational and financial progress at an increasing rate."


HyperDynamics' SCS Announces Completion of 2003 2D Seismic Progam Offshore the Republic of Guinea, West Africa
Exploration Requirements are Fulfilled as Company Raises Capital

HOUSTON--(BUSINESS WIRE)--Nov. 20, 2003-- HyperDynamics Corp. (OTCBB: HYPD - News) announced today that its energy subsidiary, SCS Corp., has completed the 2003 2D seismic acquisition program offshore the Republic of Guinea, West Africa. The current acquisition program commenced in late September and has now been completed. The program targeted a specific quadrant of the 16MM acre concession and resulted in the acquisition of 4,007.6 kilometers of new 2D data, acquired using a 6,000-meter digital hydrophone array.

Neil Moore, president of SCS, stated, "The completion of this seismic acquisition program is a major accomplishment. This new data represents the primary component of work necessary for us to fulfill our minimum requirements for the First Exploration period under the Production Sharing Agreement with Guinea."

Kent Watts, chairman and CEO of HyperDynamics, said, "Our geo-expert staff has done a masterful job and we are now ready to focus on expanding our scope as we continue to analyze this new valuable information, moving ever closer to pinpointing actual drilling prospects. As we successfully move forward we continue to add shareholder value. As per our filings, we are in a fund-raising mode and are raising money daily. We expect that reaching this milestone will help us complete our current capital raise in the near future."


Enormous New Structures Revealed in Preliminary Interpretation of HyperDynamics'SCS Corp. 2002 Seismic Data

HOUSTON, Sep 30, 2003 (BUSINESS WIRE) --

HyperDynamics Corp. (OTCBB: HYPD) has announced that its wholly owned subsidiary, SCS Corp., completed preliminary evaluations of a new sector of its 16-million-acre concession offshore the Republic of Guinea, West Africa. In 2002, several regional lines of seismic were acquired and recently reprocessed revealing a whole new sector, adding to previously announced potential for commercially viable hydrocarbons offshore Guinea.

It was reported by SCS geo-experts that near the edge of the Guinea continental shelf, within the ancient Guinea Delta identified earlier, three important zones exist at depths between 12,000 and 15,000 feet below the ocean surface. From preliminary analysis, it is believed that there are substantial shale deposits, source rocks for oil and gas and turbidites representing porous sands that typically form reservoirs holding petroleum. SCS'geo-experts believe this is the case in Guinea as is also the case in many areas of the world containing large hydrocarbon reserves. There is also indication that the turbidites were laid down between deltaic shale deposits in strata hundreds of feet thick. It appears that the sands were carried by currents over the edge of the ancient shelf from mountainous coastal wetlands. It is also believed that very large buried channels indicate that major rivers were present. These turbidite zones cover an area beginning 75 miles from the Guinea coast and extend to the current shelf edge approximately 100 miles offshore.

This new information was revealed by analyzing data collected by SCS in 2002 and reprocessed recently, revealing more clearly these massive structures along the ancient shelf. The structures are dipping toward shore over 20-25 mile distances between faults. This 'reverse dip'is thought to trap and restrict the flow of petroleum out of the faulted blocks. After reaching a crest at the shelf edge, the strata then rolls over in the opposite direction toward the Atlantic basin.

Neil Moore, president of SCS, stated, 'Computer processing technology capable of bringing forth high-resolution stratigraphic features have identified these turbidite sands present over and around the structures.'

Moore continued, 'My calculations show that the zones are capable of holding billions of barrels of oil and significant amounts of associated natural gas. This new prospect, which is one of many being investigated in the area, is in addition to SCS'current studies reported earlier this month. We are genuinely excited about what has been revealed thus far and are planning to perform full exploration operations on this new prospect in early 2004.'

About HyperDynamics

HyperDynamics is a provider of integrated information technology services. HyperDynamics'wholly owned subsidiary, SCS Corp., is focused on oil and gas exploration and geophysical data services for the oil and gas industry, including its integrated SCS NuData(SM) services as well as developing new regions of Africa for energy production.



HyperDynamics: Republic of Guinea Oil & Gas Tied to Major Delta Formations; Advanced Seismic Work Program Identifies World Class Features

HOUSTON, Aug 21, 2003 (BUSINESS WIRE) --

HyperDynamics Corp., (OTCBB:HYPD), today announced that its wholly owned subsidiary, SCS Corporation, has isolated four tiers of fault blocks 150 kilometers offshore from the coast of Guinea. The blocks are at the edge of a large delta and confirm the presence of many major oil and gas prospects.

Neil Moore, President of SCS, stated, 'The fault blocks were visualized using satellite images. The correlating seismic ties to prospective zones that are up to 500 feet thick. Each of the fault tiers covers more than 25 square miles.'Moore also said, 'These sites are now being considered for high density 3D seismic operations. At depths of 16,000 feet and assuming typical porosities, each block can hold up to 70 trillion cubic feet of gas. The northwest continental shelf of Guinea is now defined as a complex Delta with many prospects.'

Robert Bearnth, Vice President for SCS, explained, 'Our extensive work program consists of acquiring, reviewing, processing, reprocessing, interpreting and reinterpreting over 16,000 kilometers of seismic data. This work program will enhance and verify the world class features we have seen to date.'He further remarked, 'One oil company that has reviewed our data saw hundreds of prospects.'

In light of these recent developments Kent Watts, Chairman and CEO of HyperDynamics, stated, 'The prospect of world class natural gas deposits bodes strong for our company in the light of Alan Greenspan's recent testimony before the U.S. Congress.'Mr. Greenspan, Chairman of the Federal Reserve, recently declared, 'Today's tight natural gas markets have been a long time in coming, and futures prices suggest that we are not apt to return to earlier periods of relative abundance and low prices anytime soon.'Watts went on to say that, 'We feel that Guinea is creating the best environment in the world for exploration and production of hydrocarbons and West Africa is one of the hottest exploration frontiers anywhere. We are honored and privileged to have the faith and support of the Republic of Guinea.'According to Offshore Magazine's May 2003 article titled, West Africa Major Focus of Future E&P Spending, 'Global E&P (exploration and production) expenditures are expected to top $130 billion in 2003. West Africa's vast deepwater frontiers will receive a fair portion of those dollars in the form of exploratory drilling.'Exploration in West Africa is currently being conducted by Woodside Petroleum (AMEX:WPL), Amerada Hess (NYSE:AHC), Marathon Oil (NYSE:MRO), Canadian Natural Resources (NYSE:CNQ), Shell (NYSE: RD &SC), ExxonMobil (NYSE:EOM), Kerr-McGee (NYSE:KMG), Vanco Energy, Premier Oil and Dana Petroleum (London:DNX.L), among others.

When asked about his quote regarding the company's stock being undervalued back in June, Mr. Watts stated, 'Given the current market valuations of similar companies to ours, I believe we are still significantly undervalued with a current market cap of approximately $37MM. For example, Environmental Remediation Holding Corporation (OTCBB:ERHC) is selling at a $115MM market cap and has tremendous upside potential. Far East Energy Corp. (OTCBB:FEEC), a company that acquires, explores and develops natural gas and coal bed methane gas in the Far East, is at $105MM market cap and has shown and is continuing to show a very strong stock appreciation. Oil and gas companies are showing positive trends in the market place as evidenced also by Heartland Oil and Gas Corp. (OTCBB:HOGC). Heartland is showing a remarkable track record. As we move forward, we expect the market to more clearly understand our real potential and give us much better valuations.'


HyperDynamics/SCS To Offer Seminar With SAS; Event Will Focus on 21st Century Data Management for Oil and Gas Industry

HOUSTON, Apr 15, 2003 (BUSINESS WIRE) --

HyperDynamics Corp., (OTCBB:HYPD), today announced that its wholly owned subsidiary, SCS Corporation, in conjunction with SAS(R), the leader in business intelligence, are offering a series of technical seminars to enlighten Oil and Gas executives about how to transform their exploration data from a liability to an asset. The first event, titled 'Hardcopy/Softcopy E&P Data Management Alternative,'is scheduled for April 22, 2003 at SAS's Houston office.

The event is expected to be attended by representatives from Amerada Hess (NYSE:AHC), Apache Corp. (NYSE:APA), British Petroleum, Plc (NYSE:BP), Chevron/Texaco (NYSE:CVX), Marathon Oil Corp. (NYSE:MRO), Occidental Petroleum (NYSE:OYX), Shell Oil, and Unocal Corp. (NYSE:UCL).

Some topics to be addressed at the event include:


Traditional data warehousing versus 21st Century data management
Boxed data compared to online and nearline data
Line item billing contrasted to bundled services billing
Budget neutral data management approaches
Adding strategic value to your business by utilizing your existing data
Raising the value of data management into an earnings at risk adjusted framework
Exploration Intelligence


Harry Briers, Executive Vice President of HyperDynamics, commented, 'We are very pleased to be working with SAS to bring a modern data management solution to the Oil and Gas industry. Our goal to provide our NuData(SM) service at a price less than our customers' current storage fees is getting the industry's attention. When you combine this with the ability to transform their data into an asset, it is clear to see that we have a better way to manage data.'

'The Oil and Gas industries are crucial for the nation's economic recovery, and their ability to integrate, analyze and gain knowledge from data translates into dollars saved,'said Stewart Cathro, National Account Representative at SAS. 'This calls for software systems of truly mission critical importance that are flexible, have rich functionality, and take into account changing regulatory requirements in local, regional, national and international markets. Through seminars such as this, industry executives can learn first hand how a fully integrated environment can be created that will support the multiple business functions of a diversified energy company.'

For additional information, please contact Harry Briers with HyperDynamics/SCS at Telephone [phone] or Stewart Cathro with SAS at Telephone [phone].

About HyperDynamics

HyperDynamics is a provider of integrated information technology services and products. HyperDynamics'wholly owned subsidiary, SCS Corporation, is focused on geophysical data services for the oil and gas industry including its integrated SCS NuData(SM) services.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company filings with the Securities and Exchange Commission.

HyperDynamics Corp. Kent Watts, 713/353-9400 [e-mail] or Investor Relations Contact: Stock Enterprises, Inc. Jim Stock, 702/614-0003 [e-mail]


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