Hyperdynamics Reports 3Q Net Loss of USD 4.4 Million. Updates on Guinea Operations

Hyperdynamics Reports 3Q Net Loss of USD 4.4 Million. Guinea Operations Ongoing

Hyperdynamics Corporation announced today that it has filed its quarterly report on Form 10-Q for the three month period ended September 30, 2011 with the SEC.

Hyperdynamics reported a net loss of $4.4 million, or $0.03 per share during the quarter, compared to a loss of $2.9 million, or $0.03 per share in the prior year period. The Company had $74.2 million in cash and restricted cash as well as $54.4 million in available-for-sale securities as of September 30, 2011.

Drilling of Hyperdynamics’ first well offshore the Republic of Guinea, the Sabu-1, is ongoing and the objective horizons have not yet been reached.

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Source: Hyperdynamics, November 9, 2011

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