SCS Completes 2D Seismic Program Offshore the Rep. of Guinea

HyperDynamics' subsidiary, SCS Corp., has completed the 2003 2D seismic acquisition program offshore the Republic of Guinea, West Africa. The current acquisition program commenced in late September and has now been completed. The program targeted a specific quadrant of the 16MM acre concession and resulted in the acquisition of 4,007.6 kilometers of new 2D data, acquired using a 6,000-meter digital hydrophone array.

Neil Moore, president of SCS, stated, "The completion of this seismic acquisition program is a major accomplishment. This new data represents the primary component of work necessary for us to fulfill our minimum requirements for the First Exploration period under the Production Sharing Agreement with Guinea."

Kent Watts, chairman and CEO of HyperDynamics, said, "Our geo-expert staff has done a masterful job and we are now ready to focus on expanding our scope as we continue to analyze this new valuable information, moving ever closer to pinpointing actual drilling prospects. As we successfully move forward we continue to add shareholder value. As per our filings, we are in a fund-raising mode and are raising money daily. We expect that reaching this milestone will help us complete our current capital raise in the near future."