Hyperdynamics' Expanded 3D Seismic Program Offshore Guinea to be Partially Funded by Recent $10.6 Million Equity Offering

HOUSTON, April 26 /PRNewswire-FirstCall/ -- Hyperdynamics Corporation (NYSE Amex: HDY) announced today that the majority of proceeds from its $10.6 million registered direct offering that closed April 23 will be used to fund the Company's share of costs for the expanded portion of the 3D seismic survey that is targeted for the third quarter of this year.  

Hyperdynamics has begun soliciting bids through a competitive tender process for a 3,500-square-kilometer seismic survey covering selected prospects within its 25,000-square-kilometer offshore Guinea exploration area. The tender includes both the acquisition and processing of 3D seismic data and was sent to major seismic contracting companies with offshore 3D capabilities.

"We have decided to increase the size of our planned 3D seismic survey from 2,000 square kilometers to about 3,500 square kilometers to enhance our chances of success in the drilling phase next year.  The larger survey will allow us to cover two separate prospect areas containing multiple prospects with 3D data and to give us a wider range of choices of drilling objectives," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer.

"We have a contractual commitment to begin drilling by year-end 2011; so in order to choose a drilling location and have enough lead time to procure drilling equipment and services, we need to begin shooting the seismic survey this summer.  Tendering the 3D seismic now helps ensure that a vessel will be available.

"We are currently in ongoing discussions with several potential operating participants, and we expect the 3D seismic survey to significantly enhance our data set on this highly prospective acreage," Leonard 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.

Forward Looking Statements

This news release and the Company's website referenced in this news release contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding Hyperdynamics Corporation's future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", "may increase", "may result", "will result", "may fluctuate" 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, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2009. 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.

HDY-IR

SOURCE Hyperdynamics Corporation

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