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Hyperdynamics Announces Updated Prospective Oil Resource Evaluation

     Hyperdynamics Announces Updated Prospective Oil Resource Evaluation

PR Newswire

HOUSTON, Feb. 14, 2013

HOUSTON, Feb. 14, 2013 /PRNewswire/ --Hyperdynamics Corporation (NYSE: HDY)
today announced the completion of an updated oil resource evaluation study of
the oil and gas concession offshore Republic of Guinea conducted by
Netherland, Sewell & Associates, Inc. ("NSAI"), a leading provider of reserve
audits and exploration resource assessments. A summary of the gross
prospective resource potential of each of 21 prospects and leads is found in
the report. The complete NSAI report is available on the Company's website at
www.hyperdynamics.com.

"We find the update and assessment by NSAI encouraging and continue to see
multiple prospects and play types in the concession," said Hyperdynamics'
President and CEO Ray Leonard. "We look forward to working with Tullow Oil as
they apply their successful exploration experience on the Atlantic Margin to
the evaluation of the prospects on the block."

NSAIconducted an assessment of the prospective oil resources of selected
prospects on the concession following analysis of the Sabu-1 well in 2012 as
well as the preliminary review of the 4,000-square-kilometer 3-D seismic
survey covering deep water areas in the southwestern portion of its
concession. This report supersedes earlier studies completed prior to the
acquisition of this new well and seismic data.

"Prospective Oil Resources" referred to in NSAI's report are quantities of
petroleum that are estimated to be potentially recoverable from undiscovered
accumulations through future development projects. The prospective oil
resources included in this latest NSAI report indicate exploration
opportunities and development potential in the event that a discovery is made
and should not be construed as reserves or contingent resources. The NSAI
prospective oil resource estimates are provided because management believes
they are useful information to investors in the valuation and analysis of the
Company.

Hyperdynamics, through its wholly owned subsidiary, SCS Corporation Ltd., owns
a 37 percent participating interest in the concession, with 40 percent held by
Tullow Guinea Ltd., and the remaining 23 percent held by Dana Petroleum, a
wholly owned subsidiary of the Korean National Oil Company. Following a
transition period, Tullow Guinea Ltd. will become the Operator of the
concession in April 2013.

Cautionary Note to Investors Concerning Prospective Resources
This news release uses the term "prospective resources." Hyperdynamics advises
investors that the U. S. Securities and Exchange Commission ("SEC") does not
recognize this term, and the SEC permits oil and gas companies, in their
filings, to disclose only "reserves." In addition, prospective resources have
a great amount of uncertainty as to their existence and economic and legal
feasibility. Investors are cautioned not to assume that estimates of
prospective resources are economically drillable, or will ever be upgraded
into reserves.

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 or 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 SEC, 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.

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

SOURCE Hyperdynamics

Website: http://www.hyperdynamics.com
 
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