GeoExperts Reaches Settlement With Hyperdynamics

GeoExperts announces that it has concluded a settlement with SCS Corporation, Sugar Land, Texas, a subsidiary of Hyperdynamics Corporation (AMEX:HDY), with respect to former contractual arrangements between the two companies.

Although there was material disagreement over what constitutes the generally accepted scientific process for international oil and gas exploration and the timetable to develop and analyze proper decision-making data associated with the offshore area of the Republic of Guinea, GeoExperts is not in agreement with the actions taken by Hyperdynamics in comparison to other members of the international petroleum community working in Africa.

John Burton, President and CEO of GeoExperts, stated, “Any announcements after November 2, 2007 by Hyperdynamics Corporation or SCS Corporation of geological or geophysical conclusions or objectives should not be attributed in any way to the purposeful work that was undertaken by GeoExperts in accordance with sound and consistent industry practices.”

ABOUT GEOEXPERTS

GeoExperts is a Houston, Texas-based consultancy providing a wide range of geological, geophysical and operational services to international petroleum exploration organizations with interests in Africa, Asia and the USA.