Hyperdynamics Expands, Strengthens its Management Team

HOUSTON, Sept. 20, 2016 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) today announced several additions to its management team designed to position the Company for its upcoming drilling program.

• Sergei Alexeev has joined Hyperdynamics as Vice President-Commercial Development on a consulting basis and will assume the role of Chief Financial Officer in January.
• David Gullickson has joined the Company as Vice President-Finance and Treasurer.
• Forrest Estep has joined Hyperdynamics as Vice President-Operations.
• Randy Ditmore of Houston Drilling Management has been engaged by the Company as consulting Drilling Manager, reporting to Mr. Estep.

Alexeev, Gullickson and Estep will report to Ray Leonard, Hyperdynamics President and Chief Executive Officer.

"With the recent amendment of our Production Sharing Agreement that extended our exploration rights in Guinea for another year and with the settlement of litigation with our former partners that restored 100% ownership of our concession area to Hyperdynamics, our focus now is to rebuild a core management team to develop a drilling plan for the Fatala well scheduled for next year and identify sources of capital and/or new farm-in partners to help us drill this very high-potential, deepwater oil prospect," Mr. Leonard said.

"These executives bring extensive international oil exploration and production and offshore operations experience as well as connections to capital markets and financial expertise to Hyperdynamics," he added.

Mr. Alexeev most recently served as Chief Operating Officer for Soyuzneftegaz, a Russian oil and gas company, and earlier was the First Vice-President for Rosneft, Russia's largest oil and gas producer, in charge of Economics, Finance and Business Development.  He also has extensive experience in banking and finance, mergers and acquisitions and international negotiations.  Mr. Alexeev holds a Diploma in ­­International Financial Relations from the Moscow Institute of International Relations and a Master's degree in International Economics (MSc.Ec.) from the London School of Economics.

Mr. Gullickson joined Hyperdynamics from the Tatum consultancy, where he served numerous energy client companies over the last 10 years in a variety of senior management roles, including interim CEO, CFO, Controller and Treasurer.  Earlier, he held executive positions with Precision Tube, Tejas Power, Corporate Solutions Corporation and Buttes Gas and Oil.  He is a Certified Public Accountant and holds a Bachelor of Arts degree in Economics and a Master of Professional Accounting degree from The University of Texas at Austin.

Mr. Estep has more than 30 years of drilling, completions and production experience. Most recently he served as Vice President-Drilling and Completions for Afren Resources, leading exploration and development drilling activities in multiple locations in Africa and the Middle East.  He also has held senior positions overseeing deepwater drilling projects with Anadarko Petroleum, Repsol Services, Transocean Offshore, Conoco and Amoco. Mr. Estep holds a Bachelor of Science degree in Chemical Engineering from New Mexico State University.

Mr. Ditmore has over 35 years of experience in production, drilling and completion engineering, working in numerous onshore U.S. basins, the Gulf of Mexico Shelf and Deepwater, the North Sea, Caspian Sea and the Eastern Mediterranean Sea. He is seconded to Hyperdynamics from Houston Drilling Management and previously worked with Noble Energy and Amoco.

About Hyperdynamics

Hyperdynamics is an emerging independent oil and gas exploration 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.

Contacts:

Ray Leonard
President and Chief Executive Officer
713-353-9445

Anne Pearson / Jack Lascar
Dennard-Lascar Associates
713-529-6600

SOURCE Hyperdynamics

Related Links

http://www.hyperdynamics.com