HyperD Farms Down Guinea

Sunday, April 2, 2017

SCS Corp., a subsidiary of Hyperdynamics Corp., and Sapetro executed a farm-out agreement. Under the terms of the agreement Sapetro will receive a 50% participating interest in PSC for SCS Corp.’s block in Guinea.

For the 50% stake Sapetro will pay 50% of the Fatalla well costs plus reimbursement to SCS of half of the previously incurred costsin preparing for the well since the PSC Second Amendment was signed.

The approximate amount of such previous costs is estimated to be approximately $8-10 million depending on the timing of the completion of the agreement and upon approval of the Guinean government.

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