Hyperdynamics Plans to Invest $70 Million in Drilling in Guinea, CEO Says

Hyperdynamics Corp. (HDY) plans to invest $70 million to drill in Guinea for first time in October, Chief Executive Officer Ray Leonard said.

“The company launched 2D and 3D seismic surveys,” Leonard said during a presentation at a mining conference in Conakry. Hyperdynamics has “collected $192 million to finance the explorations by 2D and 3D.”

“We are very enthusiastic on the offshore potential of Guinea,” he said.

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To contact the reporter on this story: Tim Smith in Sydney at tsmith58@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net

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