Hyperdynamics Names Paul C. Reinbolt as Chief Financial Officer

HOUSTON, July 7, 2011 /PRNewswire/ -- Hyperdynamics Corp. (NYSE Amex: HDY) announced today that it has appointed Paul C. Reinbolt as its new Chief Financial Officer and Executive Vice President.  Reinbolt will join the company effective August 8.

Reinbolt is retiring from Marathon Oil Corporation after more than 30 years with the company, most recently serving as Vice President-Finance and Treasurer. In this role he was responsible for completing the financing and financial restructuring for Marathon's spin-off of its downstream operations from the exploration and production businesses on June 30.  

"We are delighted that Paul has agreed to join the Hyperdynamics team," said Ray Leonard, Hyperdynamics President and Chief Executive Officer. "As we continue to grow as a company, his extensive experience in the E&P business across a broad range of financial disciplines – including corporate and project finance, M&A, accounting, budgeting, forecasting and tax – will be invaluable.

"Following Marathon's separation from U.S. Steel Corporation at the end of 2001, Paul successfully recruited and trained a finance organization to support Marathon's global oil and gas operations.  We will look to him to build the financial capabilities that Hyperdynamics will need for its future growth," Leonard added.

Reinbolt joined Marathon in 1980 and held various positions in finance, treasury and accounting within the Marathon corporate family, which once included USX Corporation and U.S. Steel. His assignment locations included New York, London and Houston.

He holds a Bachelor of Science degree in accounting and a Master of Business Administration degree in finance from Miami University in Oxford, Ohio.  He is on the Board of Directors of Oil Investment Corporation Ltd. and Oil Casualty Investment Corporation Ltd.  He also serves as a member of the Business Advisory Council for the Farmer School of Business at Miami University.

Hyperdynamics Vice President-Finance Jason Davis and Controller David Wesson will report to Reinbolt.  

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, 2010. 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 Corp.

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