HOUSTON, May 5, 2014 /PRNewswire/ -- Hyperdynamics
Corporation (NYSE: HDY) today announced that Tullow Guinea Limited
("Tullow") provided notice to the Government of Guinea and the other members of the Consortium
that Tullow has lifted, with effect from 3
May 2014, its declaration of Force Majeure under the
Production Sharing Contract (PSC) and the Joint Operating
Agreement. Diligent efforts are being made to satisfy the
conditions to resuming petroleum operations which include
clarification that the U.S. FCPA investigations of Hyperdynamics
will not adversely affect Tullow's operations under the PSC.
Hyperdynamics cannot predict the timing or outcome of these
efforts.
The members of the Consortium and their participating interests
in the Concession from the Government of Guinea granting exploration rights offshore
Guinea are Tullow - 40%,
Hyperdynamics' subsidiary, SCS Corporation – 37% and Dana Petroleum
(E&P) Limited – 23%.
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 regarding Hyperdynamics Corporation's future
plans and expected performance that are based on assumptions the
Company believes to be reasonable. Statements that include the
words "believes," "expects," "anticipates," "intends," "projects,"
"estimates," "plans," 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. 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.
Contacts:
|
Dennard ▪ Lascar
Associates
|
|
Jack Lascar, Managing
Partner
|
|
(713)
529-6600
|
|
|
|
|
|
Anne Pearson, Sr.
Vice President
|
|
(210)
408-6321
|
SOURCE Hyperdynamics