Hyperdynamics Corporation is an independent oil and gas exploration company with prospects in offshore Republic of Guinea in Northwest Africa pursuant to rights granted to the Company by Guinea (the Concession) under a Hydrocarbon Production Sharing Contract. The Company holds an interest covering approximately 25,000 square kilometers in Guinea. The Company's primary focus is the advancement of exploration work in Guinea. The Company develops and evaluates drilling targets and complete technical work and planning with Tullow and Dana Petroleum, PLC. The Contract Area is approximately 18,750 square kilometers. Two wells have been drilled in the Contract Area: the GU-2B-1 well and the Sabu-1 well. The drilling at GU-2B-1 well reached a total depth of approximately 3,253 meters below seabed. The drilling at Sabu-1 well reached a total depth of approximately 2,891 meters below seabed.