Hyperdynamics: PSC Still at Guinea's National Assembly

Hyperdynamics Corp. reported Wednesday that an official statement by the National Assembly of the Republic of Guinea confirmed that the company's 2006 Production Sharing Contract (PSC) remains at the Assembly. The National Assembly is considering the contract for a Project of Law designation that would transform it into new law.

When asked to comment Mr. Kourouma, Vice President of Guinea Affairs, stated, "We are on a good track. We are prepared to aide the Assembly with any questions they may have and we anticipate that the project of law could pass during the current session."

Hyperdynamics Corporation explores for and produces sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas.