Hyperdynamics Dynamically Higher after Drilling Resumption

Shares of Hyperdynamics

are trading about 10% higher at one point after the company announced this morning that it resumed drilling operations in offshore the Republic of Guinea in West Africa. Drilling recommenced from a point 1,440 meters subsea and is planned to continue to a total depth of 3,600 meters. Hyperdynamics plans to continue to provide progress updates. Hyperdynamics operates the Guinea concession with a 77 percent participating interest, with the remaining 23 percent held by Aberdeen-based Dana Petroleum, a wholly owned subsidiary of the Korean National Oil Company. The well is operated through AGR, a well management company. Currently, shares of Hyperdynamics are trading about 5.4% higher at $2.34.