HOUSTON, May 22, 2007 (BUSINESS WIRE) -- The National Assembly of the Republic of Guinea, in West Africa, announced its decision to call a special session, to begin on June 5, 2007, in which it will continue its consideration of Hyperdynamics Corporation's (AMEX:HDY) 2006 Production Sharing Contract (PSC) for a "Project of Law" designation.
Entirely at their leisure and discretion, the elected representatives of the National Assembly use this legislative process to study major contracts and fully understand their impact on their country. With a positive vote by a majority of the members, the 2006 PSC would become a new "Project of Law", while remaining in accordance with the existing Guinea law known as the 1986 petroleum code, just as it is today.