SUGAR LAND, Texas, Nov. 12 /PRNewswire-FirstCall/ -- Hyperdynamics Corporation
(NYSE Amex: HDY) announced today that the Company has entered into a
definitive agreement to sell 1,578,948 shares of its common stock at a price
per share of $0.95 pursuant to a registered direct offering to an
institutional investor, resulting in gross proceeds of approximately $1.5
million.
The closing of the offering is expected to take place subject to the
satisfaction of customary closing conditions. Hyperdynamics Corporation plans
to use the net proceeds from the offering for working capital and general
corporate purposes.
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any offer or sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
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, 2009. 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
Contacts: Dennard Rupp Gray & Easterly, LLC
Ken Dennard, Managing Partner
Jack Lascar, Partner
(713) 529-6600
Anne Pearson, Sr. Vice President
(210) 408-6321
SOURCE Hyperdynamics Corporation
Ken Dennard, Managing Partner, or Jack Lascar, Partner, +1-713-529-6600, or
Anne Pearson, Sr. Vice President, +1-210-408-6321, all of Dennard Rupp Gray &
Easterly, LLC, for Hyperdynamics Corporation
