Hyperdynamics Focuses on Actions and Events to Achieve Compliance Objectives

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Tue Mar 24, 2009 7:30am EDT

HOUSTON--(Business Wire)--
Hyperdynamics Corporation (NYSE AMEX:HDY) announced today that the company will
be submitting a plan by April 16, 2009 to regain compliance with the NYSE AMEX
LLC Exchange. The plan will be submitted with two primary objectives. 

The first objective will be to come into financial compliance by September 17,
2009. The actions and possible events to help the Company achieve this objective
would be as follows:

 1. The signing of a joint venture partner for exploration and exploitation of offshore Guinea                                      
 - Process remains very active and ongoing                                                                                          
 2. The signing of a financial partner to explore and exploit offshore Guinea                                                       
 - Process Started in 2008 and continuing                                                                                           
 3. Operational cost reductions - Process started in November 2008 and continuing                                                   
 4. The operational optimization and/or sale of some of our domestic oil properties                                                 
 - Process initiated in January 2009 and ongoing                                                                                    
 5. A sale of working interest to private investors for our domestic oil property                                                   
 6. A marked rise in the price of crude oil                                                                                         
 - The near term low for the per barrel price of crude oil hit the low $30`s and the closing price yesterday was $53.83 per barrel  
 7. A combination of any of the above                                                                                               


The second objective will be to raise either the shareholder equity or qualify
for the market cap exception to the shareholder equity requirements of the
exchange by September 17, 2010. Management believes that success with solving
the first objective will lead to an easy solution for this second objective. 

Kent P. Watts, Hyperdynamics` Chief Executive, commented that, "The precipitous
fall in the financial markets, also affecting our stock price, and related fall
in crude prices created this challenge for us at this time. Regarding our
objectives to regain NYSE AMEX compliance, we have already made substantial
progress regarding our prospects for joint venture and/or financial partners
offshore Guinea; we have significantly reduced our operating costs; and we are
working to optimize our producing oil and gas assets in Louisiana, including the
possible sale of some of our leases. It is worthy to note that higher oil and
stock prices would help our plan objectives." 

About Hyperdynamics

Hyperdynamics Corporation provides energy for the future by exploring and
producing sources of energy worldwide. The company's internationally active oil
and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000
square miles offshore the Republic of Guinea, West Africa. HYD Resources
Corporation focuses on domestic production in proven areas. To find out more
about Hyperdynamics Corporation, visit the corporate website at
http://www.hyperdynamics.com. 

Forward Looking Statements

Statements in this news release are "forward looking" as defined by the U.S.
Securities and Exchange Commission and are based on expectations, beliefs or
projections that are subject to numerous risks and uncertainties. Investors are
cautioned that these statements are not guarantees of future performance, and
actual results could differ materially. Please refer to "Risk Factors" in the
company's Form 10-K filed with the SEC. 

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HDY-IR 



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