2014

Hyperdynamics Announces Lifting of Declaration of Force Majeure by Tullow

HOUSTON, May 5, 2014 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) today announced that Tullow Guinea Limited ("Tullow") provided notice to the Government of Guinea and the other members of the Consortium that Tullow has lifted, with effect from 3 May 2014, its declaration of Force Majeure under the Production Sharing Contract (PSC) and the Joint Operating Agreement.  Diligent efforts are being made to satisfy the conditions to resuming petroleum operations which include clarification that the U.S. FCPA investigations of Hyperdynamics will not adversely affect Tullow's operations under the PSC.  Hyperdynamics cannot predict the timing or outcome of these efforts. 

The members of the Consortium and their participating interests in the Concession from the Government of Guinea granting exploration rights offshore Guinea are Tullow - 40%, Hyperdynamics' subsidiary, SCS Corporation – 37% and Dana Petroleum (E&P) Limited – 23%.

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.

Forward Looking Statements
This news release and the Company's website referenced in this news release contain forward looking statements regarding Hyperdynamics Corporation's future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements that include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts. A number of risks and uncertainties could cause actual results to differ materially from these statements, including without limitation, funding and exploration efforts, fluctuations in oil and gas prices and other risk factors described from time to time in the Company's reports filed with the SEC. The Company undertakes no obligation to publicly update these forward looking statements to reflect events or circumstances that occur after the issuance of this news release or to reflect any change in the Company's expectations with respect to these forward looking statements.

Contacts:

Dennard ▪ Lascar Associates


Jack Lascar, Managing Partner


(713) 529-6600






Anne Pearson, Sr. Vice President


(210) 408-6321

SOURCE Hyperdynamics



RELATED LINKS
http://www.hyperdynamics.com

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