Hyperdynamics Strengthens Financial Management and Governance

June 24, 2008 4:09 PM EDT

HOUSTON--(BUSINESS WIRE)--

Hyperdynamics Corporation (AMEX: HDY) announced today that yesterday the company made changes to strengthen its financial management and governance capabilities. After years of service to Hyperdynamics, as an outside auditor, in various consulting roles, and most recently in the last few years as Corporate Secretary, Ms. Sarah Berel-Harrop was named as the Company's Chief Financial Officer and its Principle Accounting Officer with regard to the rules of the Securities and Exchange Commission (SEC). She succeeds Mr. Steven Plumb who served as the Company's CFO since 2005 until his resignation last week.

Ms. Berel-Harrop has an under graduate degree from Cornell University, an MBA from the University of Texas at Austin, and she is a Certified Public Accountant in Texas. When asked to comment, Kent Watts, the Company's Chief Executive said, "Steven Plumb did a tremendous cost effective service for us during his tenure as CFO. We greatly appreciate his hard work and professionalism. In the same vein, Sarah is the right person to succeed Steven as she is heavily focused and dedicated to our financial management. She has been a corner stone and the most reliable part of our financial reporting for years. Sarah has a very broad understanding of our accounting and financial reporting requirements and a deep understanding of our overall business plan. I am proud to have her in this critical position and believe her leadership in the financial management of our Company will help facilitate our rapid growth as we move forward."

Additionally, the Company's Board of Directors, appointed Mr. Roger D. Friedberger as a new Director. He was also appointed to serve as the financial expert on the Board's audit committee. Mr. Friedberger accepted both positions and is now the sixth director in addition to the Company's other directors Kent P. Watts, Harry J. Briers, Harold A Poling, L. Gene Stohler, and Charles H. Andrews. Mr. Friedberger has extensive public company financial management experience having served as the CFO for a number of public multinational companies over the last 25 years. He qualified as both a CPA (California) and a UK Chartered Accountant when he was an audit manager with Price Waterhouse from 1972 to 1979. He has a Bachelor of Commerce (Accounting) honors degree form the University of Leeds.

Mr. Friedberger commented, "Hyperdynamics' goal to make a world class discovery offshore the Republic of Guinea is most intriguing to me. I look forward to supporting the management team in this endeavor and to help the Company achieve this objective while assisting it in having the highest standards of financial corporate governance."

For more information on Mr. Roger Friedberger or Ms. Sarah Berel-Harrop, please read the Company's form 8K filed with the SEC yesterday. Additional biographical information will be available soon on the Company's website.

About Hyperdynamics

Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com. For additional information on play types within our concession please visit the following web page: http://www.hyperdynamics.com/africa_exploration.htm

Forward Looking Statements

Statements in this news release are "forward looking" as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to "Risk Factors" in the company's Form 10-K filed with the SEC.

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    HDY-IR

    Source: Hyperdynamics Corporation

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