Profile: Hyperdynamics Corp (HDY.N)

Hyperdynamics Corporation, incorporated in 1996, is an oil and gases exploration company with prospects in offshore Republic of Guinea in Northwest Africa. The Company is the operator and holds a 77% interests. The Company's participant, Dana Petroleum, PLC (Dana), which is a subsidiary of the Korean National Oil Corporation, holds the remaining 23% interest in the Concession. In October 2011, the Company commenced drilling operations on the Sabu-1 well. In February 2012, the Sabu-1 well reached the planned total depth of 3,600 meters. The Company has conducted 2-dimensional (2D) and 3-dimensional (3D) surveys of a portion of the Concession. During the fiscal year ended June 30, 2012 (fiscal 2012), the acquisition phase of the 3D seismic survey covering approximately 4,000 square kilometers in the deeper water portion of the Concession was completed by the CGG Veritas Ocean Endeavor.

During fiscal 2012, the concession has had two wells drilled, which include the GU-2B-1 well and the Sabu-1 well. The GU-2B-1 well was drilled by another company in 100 meters of water reaching a total depth of 3,353 meters below sea level. Drilling of the Sabu-1 well was finished in February 2012, in 710 meters of water with the Jasper Explorer Drillship, reaching a total depth of 3,601 meters below sea level. The Concession is covered by approximately 18,200 kilometers of 2D seismic acquired by the Company and 7,635 square kilometers of 3D seismic.