Hyperdynamics Corporation, is an oil and gases exploration company with prospects in offshore Republic of Guinea in Northwest Africa. The Company is the operator and holds a 77% interests. The Company's participant, Dana Petroleum, PLC (Dana), which is a subsidiary of the Korean National Oil Corporation, holds the remaining 23% interest in the Concession. In October 2011, the Company commenced drilling operations on the Sabu-1 well. In February 2012, the Sabu-1 well reached the planned total depth of 3,600 meters. The Company has conducted 2-dimensional (2D) and 3-dimensional (3D) surveys of a portion of the Concession. During the fiscal year ended June 30, 2012 (fiscal 2012), the acquisition phase of the 3D seismic survey covering approximately 4,000 square kilometers in the deeper water portion of the Concession was completed by the CGG Veritas Ocean Endeavor.