Hyperdynamics Announces Period of Exclusive Negotiations

           Hyperdynamics Announces Period of Exclusive Negotiations

PR Newswire

HOUSTON, Oct. 29, 2012

HOUSTON, Oct. 29, 2012 /PRNewswire/ --Hyperdynamics Corporation (NYSE: HDY)
today announced that its wholly owned subsidiary, SCS Corporation Ltd,("SCS")
hasentered into an agreement witha subsidiary of Tullow Oil plc, a leading
independent oil & gas exploration company,for exclusive negotiations in
respect of a potential acquisition of a forty percent (40%) gross interest
(the "Interest") in the Concession offshore Guinea.The exclusivity period is
scheduled to terminate on November 19, 2012.In the event that a definitive
agreement for the acquisition of the Interestis entered into during the
exclusivity period,it will be subject to customary provisions relating to the
satisfaction of certain conditions precedent prior to completion
ofacquisition. In the event that a definitive agreement for the acquisition
is entered into, completion of the transaction is expected to take place by
year end 2012.

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 within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, regarding Hyperdynamics Corporation's future plans
and expected performance that are based on assumptions the Company believes to
be reasonable. Statements preceded by, followed by or that otherwise include
the words "believes", "expects", "anticipates", "intends", "projects",
"estimates", "plans", "may increase", "may result", "will result", "may
fluctuate" and similar expressions of 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 Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2012.
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.

HDY-IR

Contacts: Dennard Rupp Gray & Lascar, LLC
          Ken Dennard, Managing Partner
          Jack Lascar, Partner
          (713) 529-6600
          Anne Pearson, Sr. Vice President
          (210) 408-6321

SOURCE Hyperdynamics

Website: http://www.hyperdynamics.com
 
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