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Hyperdynamics says Tullow claims force majeure in offshore Guinea
March 12, 2014 / 10:37 AM / in 4 years

Hyperdynamics says Tullow claims force majeure in offshore Guinea

March 12 (Reuters) - Hyperdynamics Corp said U.K’s Tullow Oil Plc, its partner in an offshore exploration block in Guinea, claimed that U.S. regulatory investigations into the U.S. company constituted a force majeure.

Hyperdynamics’ activities in obtaining and retaining the concession rights in Guinea are being investigated by the U.S. Department of Justice and the U.S. Securities and Exchange Commission.

Force majeure, which literally means “higher power”, allows certain terms of an otherwise legally binding agreement to be ignored.

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