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Gold/Mining/Energy : Hyperdynamics Corp
HDY 1.72+4.2%12:34 PM EDTNews

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From: Savant1/30/2012 2:28:47 PM
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Hyperdynamics to Raise $30 Million in Registered Direct Offering

HOUSTON, Jan. 30, 2012 /PRNewswire via COMTEX/ -- Hyperdynamics Corporation (HDY)
today announced that it has entered into a definitive agreement with
institutional investors in a registered direct offering of its common stock with
gross proceeds of approximately $30 million. Hyperdynamics plans to use the net
proceeds from the offering for general corporate purposes and working capital,
including ongoing drilling costs on the Sabu-1 exploratory well offshore Guinea
and a 3-D deep water seismic survey.

In the offering, the Company will issue 10,000,000 shares of its common stock at
a price per share of $3.00. The investors will also receive common stock purchase
warrants to purchase up to 10,000,000 shares of common stock with an exercise
price of $3.50 per share. The warrants will have a 14-month term and will not be
exercisable until 6 months from the closing date of the transaction.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc.
(RODM), acted as the sole placement agent for the offering.

The closing of the offering is expected to take place on or about February 2nd
subject to the satisfaction of customary closing conditions.

The shares and warrants are being offered by Hyperdynamics pursuant to a shelf
registration statement on Form S-3 previously declared effective by the
Securities and Exchange Commission.

This announcement shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any offer or sale of these
securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such jurisdiction. Any offer will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective registration
statement. Copies of the prospectus supplement together with the accompanying
prospectus can be obtained at the Securities and Exchange Commission's website at
sec.gov or from Rodman & Renshaw, LLC, 1251 Avenue of the Americas,
20th Floor, New York, NY 10020.

About Hyperdynamics

Hyperdynamics is an emerging independent oil and gas exploration and production
company that is exploring for oil and gas offshore the Republic of Guinea in West
Africa. To find out more, visit our website at hyperdynamics.com.
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