Hyperdynamics Corporation

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Hyperdynamics
Hdy-logo.png
IndustryOil and Gas Producers
Trades asNYSE:HDY
Founded1996
Websitewww.hypd.com
HDY stock chart

Hyperdynamics is committed to providing energy for the future by exploring offshore Guinea for new sources of oil and gas. It holds a 37% non-operator interest covering approximately 25,000 square kilometers in the Republic of Guinea, one of the largest exploration and production licenses in West Africa.

Hyperdynamics was founded in 1996 and is traded on the NYSE under the symbol HDY. The company is based in Houston, Texas.

http://www.hypd.com/index.htm

Contents

West Africa Operations

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Hyperdynamics concession block

Hyperdynamics holds one of the largest offshore exploration acreage positions (originally 31,000 square miles) in West Africa. The Company began its exploration by studying the historical seismic covering its contract area offshore the Republic of Guinea in 2002. It has since acquired 17,800 km of 2D seismic, conducted a geochemical drop core survey, performed a remote sensing satellite study for oil seeps and conducted an independent integrated interpretation of the data. The Company relinquished a portion of its initial acreage in December 2009, and is presently focused on exploring its remaining 25,000 square kilometers.

On January 28, 2010 the Company farmed out 23% of its participating interest to Dana Petroleum plc.

Hyperdynamics conducted a 3,635 square kilometer 3-D seismic survey with Petroleum Geo Services beginning in the third quarter of 2010 and received the final processed data in the second quarter of 2011. Hyperdynamics is using the processed 3-D in selecting well locations in preparation to drill its first well in the fourth quarter of 2011 with the Jasper Explorer Drillship.


Republic of Guinea Production Sharing Contract

First well

Hyperdynamics Spuds First Exploration Well, Sabu-1 Offshore Guinea

HOUSTON, Oct. 13, 2011 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) announced the commencement of drilling operations today at its initial exploration well in its concession offshore the Republic of Guinea. The Sabu-1 well will be drilled by the Jasper Explorer drill ship. The water depth at this location is approximately 700 meters. The target is a four-way anticline oil prospect with upper Cretaceous sands. Total well depth is anticipated to be 3,600 meters.

Sabu-1 is the first of two exploration wells planned to be drilled by the Jasper Explorer for Hyperdynamics in 2011 in the concession. The second well, Baraka-1, is scheduled to begin immediately after Sabu-1. The Jasper Explorer is an enhanced modern Pelican Class self-propelled drill ship capable of operating in water depths up to 1,524 meters. AGR Peak Well Management Ltd. is providing management services during the drilling phase of the project.

Ray Leonard, Hyperdynamics President and CEO, commented, "This is an important day for Hyperdynamics and the Republic of Guinea. We are excited to begin drilling operations and look forward to the results of the wells in the upcoming months."

Hyperdynamics operates the offshore Guinea concession with a 77 percent interest. Aberdeen-based Dana Petroleum has a 23 percent stake.


http://www.hypd.com/africa_operations.htm

Joint Venture with Tullow Oil

HOUSTON, Nov. 20, 2012 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) today announced that its wholly owned subsidiary, SCS Corporation Ltd, has entered into an agreement with Tullow Guinea Ltd., a subsidiary of Tullow Oil plc, for the sale of a 40% gross interest in Hyperdynamics' oil and gas exploration concession offshore Guinea and the transfer of operatorship to Tullow. Subject to the completion of due diligence, the sale is expected to close by year-end following the satisfaction of certain closing conditions and approval of the assignment by Guinea's Ministry of Mines and Geology.

At closing, the interests of SCS, Tullow and Dana Petroleum E&P Limited in the concession will be 37%, 40% and 23%, respectively.

The parties intend to commence drilling a well to test a deepwater fan prospect in the concession no later than April 1, 2014. According to the terms of the agreement, Tullow will reimburse SCS in respect of its past costs in the amount of $27 million cash at closing and will carry SCS' participating interests share of future expenses up to a gross expenditure cap of US$100 million, from the date of entry into the next exploration period until 90 days after the drilling of the well. Tullow will also carry SCS's share of costs associated with an appraisal well of the initial exploration well, if drilled, subject to an additional gross expenditure cap of $100 million.

"We are delighted to have reached this agreement with Tullow," said Ray Leonard, Hyperdynamics President and Chief Executive Officer. "Tullow fulfills all the requirements we were looking for: expertise and exploration success in the Atlantic Margin off West Africa – particularly the Transform Margin play that is present on the Guinea acreage – along with experience in deepwater production, the financial strength needed to explore this large block and availability of a suitable rig to initiate the deepwater drilling. Our decision to choose Tullow was made in consultation with the Guinea Ministry of Mines and Geology.

"We believe this agreement with Tullow enhances the future of Hyperdynamics' Guinea exploration program and represents the best opportunity for us to realize maximum potential value for our shareholders as we explore the potential of this large and prospective petroleum basin," Leonard said.

BofA Merrill Lynch, acting as financial advisor, assisted Hyperdynamics in connection with the sale.


Purchase and Sale Agreement:

http://www.sec.gov/Archives/edgar/data/937136/000110465912079367/a12-27611_1ex10.htm


Hyperdynamics Presentations

January 23rd 2013 Investor Update:

http://files.shareholder.com/downloads/HDY/2188981414x0x630407/9e6f48e1-6b74-4b65-a126-80171679c032/HDY%20Booklets%20January%202013.pdf


September 2012 IPAA 10th Annual Oil & Gas Investment Symposium:

https://investor.shareholder.com/ipaa/eventdetail.cfm?eventid=118319


GHS 100 Energy Conference June 26th 2012:

http://files.shareholder.com/downloads/HDY/1941372705x0x579422/4aeedceb-d88d-4128-8d72-3861dfe3333c/HDY%20GHS%20Presentation%20June%202012.pdf

Listen to GHS 100 webcast:

http://wsw.com/webcast/ghs3/register.aspx?conf=ghs3&page=hdy&url=http%3A//wsw.com/webcast/ghs3/hdy/


IPAA Oil & Gas Investment Symposium April 16th 2012:

http://files.shareholder.com/downloads/HDY/1701963232x0x560065/bb07324e-db65-4a85-9048-5cce878d8e05/HDY%20IPAA%20Slides%20April%202012.pdf



Maps

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Hyperdynamics concession block in Google Earth
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Hyperdynamics Prospects, January 2013



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Hyperdynamics concession block with blocks leased by Cheveron,Nobal and Odye. Credit to Rule64


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Multi-Client 2D Seismic Survey


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West Africa Offshore Magazine Concession Map


Map Links

Very nice PDF of West Africa concessions:

http://www.offshore-mag.com/content/dam/etc/medialib/platform-7/offshore/maps-and_posters/OWAMap2011-112811Ads.pdf


http://www.tgs.com/europe-middleeast-africa.aspx

Executives

Ray Leonard - President, Chief Executive Officer

Ray Leonard joined Hyperdynamics as President and Chief Executive Officer in July 2009.

Ray Leonard was born in New York, of a family of Ukrainian ancestry. He received a Bachelor of Science in Geology from the University of Arizona and a Master of Arts in Geology from the University of Texas at Austin. His 19-year career with Amoco was entirely associated with international projects. Initial assignments were in Trinidad, Norway and West Africa.

In 1989, he was appointed the Director of New Ventures for the Soviet Union, Eastern Europe and China. He was in a unique position to view the political and economic changes taking place. In 1995, he was appointed Vice President for Resource Acquisitions, Amoco Eurasia. In June 1998, he accepted a position as Exploration Vice President for First International Oil Company (FIOC), a newly formed company in Almaty, Kazakstan. He accepted a position as Vice President-Exploration and New Ventures in Moscow for YUKOS, the second largest Russian Oil Company in January 2001 with responsibility for diversifying the YUKOS upstream portfolio out of the core areas of West Siberia and Samara, specifically to East Siberia, the Russian Shelf and Central Asia, and concluding partnership agreements with non-Russian companies.

In January 2005 he joined MOL, the Hungarian Oil and Gas Company with the highest market capitalization (approx 11 billion USD) of any company in Eastern Europe as Senior Vice President for International Exploration and Production. During his two-year tenure the company acquired assets in Russia, Kazakhstan, Oman and Pakistan, made new field discoveries in Pakistan and Kazakhstan and reached peak production of 55,000 BOPD in its Russian venture. He accepted a position in December 2006 with Kuwait Energy Company as Vice President–Eurasia and Exploration.

Paul Reinbolt - Executive Vice President, Chief Financial Officer

Paul Reinbolt joined Hyperdynamics in August 2011 after more than 30 years with Marathon Oil Corporation, most recently serving as Vice President-Finance and Treasurer. Reinbolt joined Marathon in 1980 and held various positions in finance, treasury and accounting within the Marathon corporate family, which once included USX Corporation and U.S. Steel. His assignment locations included New York, London and Houston.

He holds a Bachelor of Science degree in accounting and a Master of Business Administration degree in finance from Miami University in Oxford, Ohio. He is on the Board of Directors of Oil Investment Corporation Ltd. and Oil Casualty Investment Corporation Ltd.

Jason D. Davis - Vice President of Finance and Treasurer

Mr. Davis began his career with Deloitte & Touche and spent five years in public accounting. Subsequently, he has served in various financial positions for several companies including the Assistant Controller at Isolagen, Inc., the Director of SEC Reporting at Texas Genco, LLC, and the Controller at Particle Drilling Technologies, Inc. Mr. Davis also served as the interim Chief Financial Officer for Particle Drilling Technologies, Inc.

Mr. Davis holds a Bachelor of Business Administration in Accounting and Taxation from the University of Houston and is a licensed certified public accountant in the state of Texas.

David W. Wesson - Controller

David W Wesson was appointed Hyperdynamics' Controller in April 2010

Mr. Wesson began his career with Tenneco Oil E&P and spent seven years in various oil and gas accounting assignments there. Subsequently, he joined Swift Energy Company in 1988 and served 21 years in various progressive financial positions, including serving as its Controller from January 2001 to December 2009.

Mr. Wesson holds a Bachelor of Business Administration in Accounting from Texas Tech University and is a licensed certified public accountant in the state of Texas.

Michael W. Palmer - Senior Vice President – Operations

Michael W Palmer has been working for 30 years in operations and production as a production engineer and manager. After graduating from the University of Washington with a degree in Chemical Engineering, he started in the oil industry as a production engineer with Amoco Production Company in 1980 in Powell, Wyoming. During his 19 years with Amoco he worked on various oil projects around the world including the US, Gabon, and Russia. Subsequently he went to work for Nations Energy Company for 9 years initially as the head of the Kazakhstan operation before taking over their Azerbaijan project. Michael was named as one of the top 21 oilmen in Kazakhstan during their first 10 years of existence. Prior to coming to work for Hyperdynamics, Michael was the Chief Operating Officer for SIPC (Syria) in Damascus.

Curtis Jackson - Vice President Drilling and Technology

Curtis Jackson joined Hyperdynamics in March 2011.

Mr. Jackson spent 32 years with Amoco and later BP, chiefly in exploration drilling management and also in Health, Safety and Environment roles. Prior to the merger with BP, he was Worldwide Drilling Superintendent for Amoco, where he gained extensive international experience in Europe, Asia and West Africa. Later, he served as exploration manager for BP-Amoco on major deep water projects in the U.S. Gulf of Mexico from 1999 to 2006 and also as director of Health, Safety, Security and Environmental in the Gulf through 2009 prior to leaving the company.

Steve F. Barrett - Vice President of Exploration

Stephen F Barrett has been working for 27 years in the exploration and production business as a geologist and manager.He started in the oil industry as a geologist with Amoco Production Co. where he served in a variety of exploration and production positions, and was exploration manager for several different geographic areas. Subsequently he worked in a number of independents (First International Oil Co., Nations Petroleum, Golden Gate Petroleum) responsible for projects in Kazakhstan, Azerbaijan, Southeast Asia, and the U.S. Gulf Coast onshore. He has 11 years of experience as manager of exploration and production projects for Amoco, Nations, and Golden Gate, and was VP and Project General Manager for Nations. His industry experience includes extensive evaluation and start-up of exploration and production new ventures. His international experience is similarly broad, principally in the Former Soviet Union, Latin America, and Southeast Asia as well as Africa.He has a Ph.D. in geology from the University of Chicago, M.S. from Univ. of Massachusetts, and B.A from Dartmouth College. Barrett served in the military as an officer and pilot in the USAF.

Andrei Orlov - Vice President for Business Development

Mr. Orlov joined Hyperdynamics in February of 2011. Mr. Orlov most recently was a Regional Director of Foster Wheeler, a global engineering and construction firm, and prior to that, Vice President for Business Development in the former Soviet Union with SNC Lavalin, Canada's largest engineering firm. He has more than 15 years of international project and business development experience for the oil and gas industry in Europe and the former Soviet Union.

Famourou Kourouma - Vice President of African Affairs

Mr. Kourouma was hired in August 2005 as the Company's Vice President of African Affairs. Born and raised in the Republic of Guinea, Mr. Kourouma's father is the former Guinea Ambassador to the United States. He speaks French, German, English and several different African dialects. He was one of the Hyperdynamics team to travel to Guinea in August of 2005 and he met with many government officials including President Lansana Conté on numerous occasions. He prepared the way for the Company's Chief Executive to first come to Guinea in September 2005. Mr. Kourouma has handled governmental affairs and public relations in Guinea and has given the Company a deep understanding of the West African culture there. His work was mission critical to the development of the Company's operating strategies in Guinea and he facilitated all critical communications with the Government of Guinea. Mr. Kourouma's strategic advice was paramount to the Company's successful negotiations in Guinea. He served a vitally important role in these African based negotiations, beginning in 2005 and extending into 2006. On September 22, 2006, he signed the 2006 Production Sharing Contract together with Guinea's minister of the Mines and of the Geology, and Minister of Finance. Mr. Kourouma earned a B.S. and M.S. in Biopharmacology from the University of Greifswald in Greifswald, Germany. He subsequently went on to attend the University of Texas for his Ph.D. studies.

Paolo G. Amoruso - Vice President of Commercial and Legal Affairs

Paolo G Amoruso joined Hyperdynamics in June 2010.

Mr. Amoruso began his career with Shell Oil Company in 1998 as Tax Counsel focusing on domestic and international mergers and acquisitions. Subsequently, he spent 7 years with Devon Energy as Assistant General Counsel for the International Division focusing on West Africa, China, Europe, and the Middle East. Mr. Amoruso holds an LL.M. in Taxation from the New York University School of Law, as well as a Juris Doctorate, Masters in Business Administration, and a B.S. in Economics from the University of Houston. He is licensed to practice law in the State of Texas.

http://investors.hyperdynamics.com/management.cfm

Board of Directors

Robert A. Solberg - Non-Executive Chairman of the Board

Robert A. Solberg joined the Hyperdynamics Board in August 2009 as non-executive Chairman of the Board.

Mr. Solberg is a retired career senior executive of Texaco Inc., where he served as President of Upstream Commercial Development from 1998 until his retirement in 2002. Earlier he held senior management roles for Texaco's U.S. operations, followed by division president roles in Europe, Asia, and the Middle East. He became a corporate officer in 1992 and retired after the Chevron merger was completed in early 2002.

Mr. Solberg is currently non-executive chairman of JDR Cable Systems Ltd., which supplies custom cable and subsea connection equipment for the offshore oil & gas industry. He is a past director of both Pioneer Natural Resources, a U.S.-based independent exploration and production company, and Scorpion Offshore, an offshore drilling contractor that made an initial public offering on the Oslo Exchange in 2005 and was successfully merged with Seadrill in 2010.

He is a licensed petroleum engineer and holds a Bachelor of Science degree in Civil Engineering from the University of North Dakota


Ray Leonard - President, Chief Executive Officer

Ray Leonard joined Hyperdynamics as President and Chief Executive Officer in July 2009.

Ray Leonard was born in New York, of a family of Ukrainian ancestry. He received a Bachelor of Science in Geology from the University of Arizona and a Master of Arts in Geology from the University of Texas at Austin. His 19-year career with Amoco was entirely associated with international projects. Initial assignments were in Trinidad, Norway and West Africa.

In 1989, he was appointed the Director of New Ventures for the Soviet Union, Eastern Europe and China. He was in a unique position to view the political and economic changes taking place. In 1995, he was appointed Vice President for Resource Acquisitions, Amoco Eurasia. In June 1998, he accepted a position as Exploration Vice President for First International Oil Company (FIOC), a newly formed company in Almaty, Kazakstan. He accepted a position as Vice President-Exploration and New Ventures in Moscow for YUKOS, the second largest Russian Oil Company in January 2001 with responsibility for diversifying the YUKOS upstream portfolio out of the core areas of West Siberia and Samara, specifically to East Siberia, the Russian Shelf and Central Asia, and concluding partnership agreements with non-Russian companies.

In January 2005 he joined MOL, the Hungarian Oil and Gas Company with the highest market capitalization (approx 11 billion USD) of any company in Eastern Europe as Senior Vice President for International Exploration and Production. During his two-year tenure the company acquired assets in Russia, Kazakhstan, Oman and Pakistan, made new field discoveries in Pakistan and Kazakhstan and reached peak production of 55,000 BOPD in its Russian venture. He accepted a position in December 2006 with Kuwait Energy Company as Vice President–Eurasia and Exploration.

Member of the Governmental Relations Committee


Herman J. Cohen - Independent Director

Herman J. Cohen joined the Board of Directors in August 2009.

Ambassador Herman J. Cohen is the President of Cohen & Woods International. Established in 1994, the firm provides strategic planning services to African governments and multinational corporations doing business in Africa. The firm is currently under contract to advise the Government of the Republic of Mauritania. A major industrial client is Century Aluminum of Monterey, Calif., which is investing in the Republic of the Congo. The newest client is Contour Global, a New York electric power company that specializes in African power projects.

Cohen retired from the U.S. State Department in November 1993. His last position prior to retirement was Assistant Secretary of State for African Affairs under President George Bush (1989-1993). During his 38-year career with the U.S. Foreign Service, he served in five African countries and twice in France. He was the American Ambassador to Senegal, with dual accreditation to Gambia, from 1977 to 1980. During assignments in Washington, D.C., Cohen served as Special Assistant to President Reagan for African Affairs (1987-1989), Principal Deputy Assistant Secretary for Intelligence and Research and Principal Deputy Assistant Secretary for Personnel.

From 1994 to 1998, under contract to the World Bank, Cohen was a Senior Advisor to the Global Coalition for Africa, an intergovernmental policy forum that worked to achieve consensus between donor and African governments on economic development strategies.

Cohen's honors and awards include the French Legion of Honor, the Belgian Order of Leopold II, the U.S. Foreign Service rank of Career Ambassador and the Distinguished Alumni Award of the City College of New York. He is a member of the Council on Foreign Relations and the American Academy of Diplomacy. He is the author of a book on conflict resolution in Africa entitled "Intervening in Africa: Superpower Peacemaking in a Troubled Continent" (published by Macmillan/Palgrave in September 2000). This book won the annual award for distinguished writing on diplomatic practice in 2000 conferred by the American Academy of Diplomacy.

Cohen received a Bachelor of Arts degree in political science from the City College of New York and a Master of Arts degree in international relations from the American University.


Chair of the Governmental Relations Committee


Lord David Owen - Independent Director

Lord David Owen joined the Board of Directors in September 2009.

Lord Owen served as Chairman of Yukos International U.K. B.V, part of the Russian oil company Yukos, from 2002 until 2005. He also served as Executive Chairman of Global Natural Energy Ltd, a metals trading company with interests in service stations in the U.K., from 1996 to 2006. Currently, he serves as non-executive Chairman of Europe Steel Ltd, and a Director of Abbott Laboratories Inc. Lord Owen served as a member of the Advisory Board of Terra Firma Capital Partners from 2004 to 2008.

For 26 years, Lord Owen was a member of the British Parliament and since 1992 a member of the House of Lords. In his last position with the British government, he was Secretary of State for Foreign and Commonwealth Affairs from 1977 to 1979. During that time, he was heavily involved in diplomatic activity in both south and west Africa.

Lord Owen was the opposition Labor Party spokesman on energy from 1979 until 1981. He co-founded the British Social Democratic Party in 1981 and served as its leader from 1983 until 1990.

He attended Sidney Sussex College, Cambridge, where he studied medicine, and subsequently specialized in neurology at St. Thomas's Hospital in London.

Member of the Governmental Relations Committee since 2009


Fred S. Zeidman - Independent Director

Fred S. Zeidman joined the Board of Directors in December 2009.

Zeidman has a long and successful track record in finance, investments and management consulting and has served as CEO, Interim CEO and Chairman of the Board of a variety companies, including several in the oil and gas sector. He currently serves as XRoads Solutions Group as a Principal in the Turnaround and Restructuring and of the University of Texas Health Science System. He also is Chairman of the Board of SulphCo Inc., Chief Restructuring Officer of Transmeridian Exploration, Inc. and Bankruptcy Trustee of AremisSoft Corp. In addition, Zeidman serves on the Board of Compact Power, Inc. in Ft Mill., SC. and Prosperity Bank in Houston.

Zeidman also is currently serving his second term as Chairman of the United States Holocaust Memorial Museum, a position to which he was appointed by President George W. Bush in March 2002.


William O. Strange - Independent Director

William O. Strange joined the Board of Directors in November 2010.

Mr. Strange was an audit partner with Deloitte & Touche LLP prior to his retirement in May 2005. He joined the international accounting firm in 1964 and became a partner in 1976. During his 41 years with Deloitte he specialized in audits of SEC registrants for a variety of publicly traded energy clients in exploration and production, petrochemicals, pipelines and oil services.

Mr. Strange is a graduate of the University of Oklahoma and lives in Houston. He is on the Finance and Audit Committee of the Presbytery of the New Covenant, the governing body for Presbyterian Churches in the Gulf Coast area. He has served as the President of the Petroleum Club of Houston and as a member of the Major Cases Committee of the Texas State Board of Public Accountancy.


http://investors.hyperdynamics.com/directors.cfm


Corporate Headquarters

12012 Wickchester Lane
Suite 475
Houston, Texas 77079
713-353-9400 Main
713-353-9421 fax
info@hyperdynamics.com

Investor & Media Relations

Dennard Rupp Gray & Easterly, LLC (DRG & E)

Ken Dennard, Managing Partner
Jack Lascar, Partner
713-529-6600

Anne Pearson, Sr. Vice President

210- 408-6321
info@drg-e.com
investor@hyperdynamics.com


Transfer Agent

American Stock Transfer & Trust Company, LLC.

6201 15th Avenue
Brooklyn, NY 11219
Phone: 1-800-937-5449


Recent News

Hyperdynamics Announces Award of Deepwater 3D Seismic Survey


HOUSTON, Sept. 21, 2011 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) today announced the signing of a 3D acquisition and processing contract with CGGVeritas (NYSE: CGV) to cover an area of approximately 4,000 square kilometers in its exploration block offshore Guinea. The value of the contract is approximately US $29.0 million gross.

The survey is expected to begin in late October 2011, using the survey vessel Oceanic Endeavour. The area of the 3D acquisition is just southwest and adjacent to one of the 3D surveys obtained by HDY in 2010. The major goal of the work is to investigate multiple possible deepwater submarine fans seen on a 2D survey acquired for Hyperdynamics in 2009. The new survey will use the CGGVeritas BroadSeis broadband solution, which will provide a clearer and more detailed image of the subsurface. After acquisition, the data will be processed by CGGVeritas, with completion of that work expected in the second half of 2012.

Ray Leonard, Hyperdynamics CEO, commented, "We're pleased to have signed this acquisition and processing contract with an industry leader such as CGGVeritas. We consider this next seismic campaign as a critical next phase of our exploration program, which will concentrate on the major new play in the equatorial Atlantic margin. Once the seismic data is interpreted, we expect to be able to identify targets for possible drilling in this trend."

Hyperdynamics operates the offshore Guinea concession with a 77 percent interest. Aberdeen-based Dana Petroleum has a 23 percent stake

http://investors.hyperdynamics.com/releasedetail.cfm?ReleaseID=607041


References

Hyperdynamics http://www.hypd.com/index.htm

Tullow Oil http://www.tullowoil.com/index.asp?pageid=1&video=46&videopanel=1

CGGVeritas http://www.cggveritas.com/

HDY price/short interest/institutional holdings historical chart and event timeline. Credit to Rule_62... http://postimg.org/image/da6898eot/

SEC Filings

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