Attached files
| file | filename |
|---|---|
| EX-10.1 - HYPERDYNAMICS CORP | v204527_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (date of earliest event reported): December 6, 2010 (November
30, 2010)
HYPERDYNAMICS
CORPORATION
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
(State or
other jurisdiction of incorporation or organization)
(Registrant’s
telephone number,
including
area code)
|
001-32490
|
87-0400335
|
|
(Commission File
Number)
|
(IRS Employer Identification
No.)
|
12012
Wickchester Lane, Suite 475
Houston,
Texas 77079
(Address
of principal executive offices,
including
zip code)
voice: (713)
353-9400
fax: (713)
353-9421
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
¨
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
¨
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
¨
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
|
¨
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
1.01 - Entry into a Material Definitive Agreement.
On
November 30, 2010, SCS Corporation, our subsidiary, entered into an Agreement
with AGR Peak Well Management Limited (“AGR”) effective November 24, 2010, for
AGR to manage our exploration drilling project (“Drilling Project Management
Contract”) in offshore Republic of Guinea
(“Guinea”). Under the terms of the Drilling Project Management
Contract, AGR will handle well construction project management services,
logistics, and tendering of materials as well as overall management
responsibilities for the drilling program. We have been conducting
exploration work pursuant to a grant of exclusive contractual rights by the
Republic of Guinea, and are concentrating our efforts on preparation for
drilling in late 2011.
The
estimated cost of the Drilling Project Management Contract is $6.8
million. We expect our share of the cost to be 77% of that
amount. The Drilling Project Management Contract provides that AGR
will receive as an incentive 10% of the gross savings to us on the following
costs:
|
·
|
Day
rate for a semi submersible drilling rig below
$450,000/day
|
|
·
|
Total
mobilization/demobilization fees below $10 Million per
rig
|
|
·
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Helicopter
fees below $25,000/day exclusive of actual flying
time
|
|
·
|
Total
helicopter mobilization/demobilization fees below
$100,000
|
|
·
|
Work
boat fees per boat under
$50,000/day
|
|
·
|
Total
work boat mobilization/demobilization fees below $400,000 per
boat
|
Item
9.01 – Financial Statements and Exhibits.
(d) The
following exhibit is included with this Report:
| Exhibit No. | Description | |
|
|
Exhibit
10.1
|
Contract
Number: AGR/C105/10 between SCS Corporation and AGR Peak Well
Management Limited for Provision of Well Construction Management Services,
including LOGIC General Conditions as Appendix
I
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
HYPERDYNAMICS
CORPORATION
|
||
|
Date: December 06,
2010
|
By:
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/s/ Ray Leonard
|
|
Name:
|
Ray
Leonard
|
|
|
Title:
|
Chief
Executive Officer and President
|
|
EXHIBIT
INDEX
| Exhibit No. | Description | |
|
|
Exhibit
10.1
|
Contract
Number: AGR/C105/10 between SCS Corporation and AGR Peak Well
Management Limited for Provision of Well Construction Management Services,
including LOGIC General Conditions as Appendix
I
|