Hyperdynamics completes sale of interest offshore Guinea

Offshore staff

HOUSTON – Hyperdynamics Corp. subsidiary SCS Corp. has completed the sale to Tullow Guinea Ltd. of 40% gross interest in its exploration concession offshore Guinea.

Guinea's Ministry of Mines and Geology formally approved the sale and Tullow has transferred the $27 million cash payment to SCS.

The interests of SCS, Tullow and Dana Petroleum E&P Limited in the concession are now 37%, 40% and 23%, respectively. The parties intend to begin drilling a well to test a deepwater fan prospect in the concession before April 1, 2014.

12/31/2012

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