One-Page Deal Sheet
Hyperdynamics Farms-out with Tullow Oil Offshore Guinea
Tullow Oil Plc Hyperdynamics Corporation
Announced Date
January 02,2013
Close Date
December 31,2012
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
27
Asset/Basin:
{"West Africa Transform Margin"}
TargetZones:
{"deepwater fan pros
Transaction Details: Subscribe to see
Hyperdynamics Corporation today announced that its wholly owned subsidiary, SCS Corporation Ltd, has completed the previously announced sale of a 40% gross interest in the Company's oil and gas exploration concession offshore Guinea to Tullow Guinea Ltd., a subsidiary of U.K.-based Tullow Oil plc. Guinea's Ministry of Mines and Geology formally approved the sale by issuing an Arrete on December 27, the transaction closed today, and Tullow has transferred the $27 million cash payment to SCS. Tullow will also carry SCS' participating interest share of future expenses, up to a gross expenditure…
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