Hyperdynamics Corporation provided further details of the amendment to its Production Sharing Contract (PSC) with the Republic of Guinea. The amendment was signed late last week in the capital, Conakry, and Hyperdynamics has been informed that the implementing Presidential Decree is in the process of issuance.
The amendment was intended to bring the PSC into line with international standards and the amendment included the following terms, in addition to the terms discussed in the news release issued by Hyperdynamics on March 25, 2010:
"With this important step completed, we now look forward to the tender process for 3D seismic, which we expect to commence shortly," said Ray Leonard, President and CEO of Hyperdynamics.
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