Hyperdynamics Selects Drilling Project Management Firm

HOUSTON, Nov. 29, 2010 /PRNewswire/ -- Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it signed a contract with AGR Peak Well Management Limited, based in Aberdeen, Scotland, to manage its exploration drilling project offshore the Republic of Guinea.

AGR will handle well construction project management services, including logistics, tendering for materials and services, as well as overall management responsibilities for the drilling program.  Initial exploration drilling is scheduled for the fourth quarter of 2011.

AGR was selected following a competitive technical and commercial review. "We are very pleased at the response we received from several world-class companies to manage our drilling project," said Ray Leonard, the President and Chief Executive Officer of Hyperdynamics. "AGR was chosen due to their extensive experience in West Africa and proven ability to manage projects of this scope and magnitude in a safe, efficient and cost-effective manner."

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 Corporation

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