Northwest Africa Oil Exploration Offshore the Republic of Guinea Ray Leonard President & CEO IPAA New York April 3, 2017

Forward Looking and Other Cautionary Statements This presentation contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding Hyperdynamics Corporation's future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", "may increase", "may result", "will result", "may fluctuate" and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. A number of risks and uncertainties could cause actual results to differ materially from these statements, including without limitation, funding and exploration efforts, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016 and subsequent quarterly filings on Form 10-Q. Information reported on this presentation speaks only as of today, and you are advised that time sensitive information may no longer be accurate after today. The Company undertakes no obligation to publicly update these forward looking statements to refl.ect events or circumstances that occur after the issuance of this presentation or to reflect any change in the Company's expectations with respect to these forward looking statements. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Potential risks include, among other things, geologic risks, political risks, oil and gas price volatility, uncertainties inherent in oil and gas production operations, government regulation and uncertainties regarding access to capital. 2

Hyperdynamics a Glance at offshore Guinea 3 Hyperdynamics CorporationOTCQX: HDYN Primary BusinessOil exploration company with 5,000 km2 block HeadquartersHouston, Texas 52-week stock price Hi/Lo$0.27 - $3.15 Market Cap~ $40 million Financial highlightsNo debt. No outstanding claims or litigation

World-Class Potential 5000 km2 license area offshore Republic of Guinea in Northwest Africa - equivalent to almost 215 Gulf of Mexico blocks. First shallow water well in February 2012 discovered oil in non-commercial quantities but demonstrated presence of a petroleum system in the basin and defined additional exploration opportunities. PSC key terms some of the most favorable in the oil industry for deepwater projects. 4 PSC Requirements & Terms •Drill a minimum of 1 exploration well to a depth of 2,500 meters below the seabed •Projected commencement date - May 2017 •Estimated time to completion - 42 days •Estimated cost - $46-50 million •More exploration wells may be drilled before the expiration of the exploration phase on September 22, 2017 Guinea Sierra Leone 4.8 billion barrels totalLiberia unrisked hydrocarbon resource potential

Guinea Concession History 2006-2010 2006Production Sharing Contract signed with the Republic of Guinea. Key fiscal terms remain intact today. July 2009Ray Leonard hired as new Hyperdynamics CEO. Executive management and entire Board replaced. Late 200910,000 km of 2D seismic shot to help identify the 30% most prospective acreage HDYN wants to retain. May 2010Dana farmed in as a 23% non-operating partner.

Guinea Concession History 2010-2016 Late 2010-early 20123D surveys A&B shot in shallow water, Sabu-1 drilled. Though non-commercial, this well proved the presence of the petroleum system on the block and gave important information about where commercial volumes should be located. On the basis of Sabu-1 results and 2D seismic, 3D survey C was shot in deep water. December 2012Tullow acquired 40% interest and became the Operator in March 2013 March 2014One month before planned spud date, Tullow suspended operations. In addition to perceived legal hurdles, Ebola outbreak made operations in-country impossible. Q4 2015 Despite satisfactory resolution of all legal hurdles and termination of Ebola pandemic, Tullow refused to resume drilling and fulfill its operator ’s duties under the contract and comply with “financial carry ” obligations towards HDYN. January 2016HDYN sued Tullow and Dana for damages for failure to honor the contract to drill the well.

Favorable events of the past year Legal Disputes Resolved and PSC Amendment Signed August 2016 HDYN reach a legal settlement with former partners Dana and Tullow to exit the consortium and transfer long lead items and a small amount of cash to Hyperdynamics. An amendment to the Production Sharing Contract with the government of Guinea is signed, granting us a 100% working interest, operatorship and a 1-year extension until September 2017 to continue to explore for oil. March 31, 2017 HDYN signs a Farmout Agreement giving SAPETRO a 50% participating interest in the project. Drilling is planned to start before the end of May 2017. September 2016 Key terms of the amended PSC remain some of the most favorable in the oil industry for deepwater exploration projects.

Advanced Seismic Processing by eSeisTM Netherland Sewell now estimates a mean recoverable resource of 647 MMBO for the Fatala prospect. The eSeis results indicate several direct hydrocarbon indicators, good reservoir quality and a well-defined reservoir seal. Reprocessing of data by eSeis further de-risked the Fatala prospect. Based on new eSeis results, Netherland Sewell increased its estimate of Fatala’s chance of success from 25% to 31% and Buried Hill’s from 20% to 24%. locity ratio Lithology volume… volume... sands, and sseminated gas above a hydrocarbon accumulation, a moderate fluid response consistent with oil rather than gas. analogous to known fields in West Africa. Density porosity volume… Pore pressure volumes… al porosity in our main target interval at Fatala, and porosity preserved in the Albian section at Buried Hill. at Fatala is sealed. 8

A Hydrocarbon-Rich Trend Three Diamonds in the Transform Margin Trend • • • Jubilee Field, Ghana Liza Discovery, Guyana Fatala Prospect, Guinea Guinea Liza Discovery Guyana Ghana South America Geologic Map Gravity Data Shows Ocean Bathymetry Mid-Atlantic Ridge Major Offset Jubilee Field Ghana Fatala Prospect Guinea Major Offset SNE-1 Discovery Senegal Liza Discovery Guyana Africa Geologic Map Mid-Atlantic Ridge Jubilee Field Fatala Prospect Significant Recent Discoveries Liza Discovery (ExxonMobil/Hess/Nexen) in Guyana • Exxon Estimate Liza, Liza Deep + Payara: 2,000 MMBOE • Snoek Discovery 25m pay SNE-1 Discovery (Cairn/COP/FAR) in Senegal • Fan Play, Fan-1, 500m Oil Zone Upper Cretaceous • Buried Hill Play SNE-1 + 6 Appraisal Wells: 640 MMBO Atlantic Reconstruction 108 million years ago Lower Albian By Scotese Major Offset Mid-Atlantic Ridge Transform + Rift Fault Intersection •Richer Albian Deepwater Marine Source From Early Rifting •Major Focused Deepwater Reservoir System

Fatala and 6 Next Highest-ranked Prospects* *Netherland Sewell, March 2016 Fan Prospects (U. Cretaceous) GU-2B-1 Buried Hill and Albian Prospects Baraka Pmean 163 MMBO P10 647 MMBO Oasis Pmean 618 MMBO P10 1514 MMBO Buried Hill P 203 MMBO 471 MMBO mean P10 Truncation Sabu-1 Pmean 366 MMBO Bamboo P10 773 MMBO 604 MMBO 321 MMBO 830 MMBO 10 Seafloor Bathymetry, m Pmean 314 MMBO P10 787 MMBO Potential 500 SqKm Development Areas Fatala 47 MMBO Sylli Pmean 6 P10 1, Estimated recoverable resources 2.6 billion barrels top 7 prospects 4.8 billion barrels all prospects License area comparable to a petroleum province, not a one-prospect block. Pmean P10

Fatala Evaluation: Identifying the Channel Fatala prospect: eSeis reprocessing grid Fatala channel: Spectral decomposition 11

Multiple Direct Hydrocarbon Indicators and Oil Water Contact Around 5,200 M Near offset trace contact 5200 M Gas cloud overlies prospect 5200 M to Increased pore pressure below fault down to 5200 M Far offset trace contact Low interval velocity anomaly extends to 5200 M 12

Direct Hydrocarbon Indicators (DHI) Fatala Prospect 1. 2. 3. 4. 5. 6. 7. 8. Down Dip Structural Conformance: Down Dip Structural Conformance: Down Dip Structural Conformance: eSeis Lithology/AVO Tullow Ultra-Far Offsets Near Trace Trough Amplitude eSeis + CGG Velocity + Frequency Anomalies that Conform to Fatala Amplitude Pore Pressure from Velocity + Frequency Indicate Fatala Fault is Sealing Up Dip Anisotropic Velocity in Overlying Shales Indicating a Gas Cloud Above Fatala Near Trace Flat Peak near 5200m Representing Oil/Water Contact CGG Gather Response, Near to Mid Amplitude: Oil Sand = Flat, Wet Sand = Dim Pinchout + Fault Pinchout + Fault onal Channel eral Seal Lateral Seal own-Dip Conformance Structural Conformance: eSeis Lithology/AVO Tullow Ultra-Far Offsets Near Trace Trough Amplitude Lateral Seal: Fatala Prospect in Cenomanian Canyon Fill 100-200m Erosional Relief 95my Sequence Boundary DHI, Oil/Water Contact Defined By: Depth Structural Conformance Near Trace Peak: Oil Sand to Wet Sand Near to Mid Gather Amplitude Response: Wet Sand Dims + Oil Sand Stays Bright Velocity + Frequency Anomalies: Conform to Fatala Amplitude Pore Pressure: Higher in Fatala Prospect + Lower Above Sealing Fault 13 Up-Dip Dip Arb-Line Erosi Lat Down-Dip Conformance Near 5200mD MapUp-Dip Erosional Channel Lateral Seal Strike Lines Erosional Channel

DHI 7+8 - Fatala Prospect eSeis Near Trace Dip Line + CGG Gathers Fatala-1 Well Gather Locations G-1 G-2 G-3 G-4 G-5 G-6 Oil/Water Contact near 5200M Flat Near Trace Peak Fatala-1 Well G-1 G-2 G-6 G-3 G-4 G-5 Oil Sand Oil/Water Contact near 5200 M 14 14 Wet Sand Trough -Peak + Amplitude Amplitude Gather Response NearMidFar Top Oil Sand

DHI 1 - Bamboo Prospect Down Dip Structural Conformance: eSeis Lithology/AVO Down Dip Conformance 5700m Oil/Water Contact 95my Ceno SB Erosional Surface Defined by Gravel in the GU-2B-1 well l 95my Ceno SB Erosional Surface Defined by gravel in the GU-2B-1 wel 5700m Down Di1p C5onformance Bamboo Geologic Model 5700m O/W Contact Bamboo Geologic Model 95my Ceno SB Erosional Surface Defined by gravel GU-2B-1 well Bamboo-1

DHI 7+8 - Bamboo Prospect eSeis Lithology/AVO Dip Line + CGG Gathers Bamboo-1 Well Gather Locations G-1 G-6 G-2 G-3 G-4 G-5 G-7 G-8 G-9 G-10 eSeis Lithology/AVO Distance from Origin in Intercept/Gradient Space 5700m Oil/Water Contact Bamboo-1 Well G-9 G-7 G-10 G-1 G-2 G-3 G-4 G-5 G-6 G-8 Oil Sand Bamboo + Milo Prospects 5700m Oil/Water Contact 16 CGG Gathers Wet Sand Trough -Peak + Amplitude Amplitude Gather Response NearMidFar Top Oil Sand

Updated Resource Potential Fan Prospects GU-2B-1 Albian Prospects Baraka Oasis Buried Hill Truncation Sabu-1 Bamboo Fatala Sylli eSeis Reprocessing August, 2016 17 Netherland Sewell re-evaluated Risk/Chance of Success (Ps%) for Fatala and Buried Hill based on e-Seis’ work and concluded that the reprocessing • Increased the Chance of Success for Fatala from 25% to 31% • Increased the Chance of Success for Buried Hill from 20% to 24% • Reduced risk factors for “trap integrity” and “timing/migration” • Subsequent (to NSAI review) work on Bamboo will likely also raise it above 30% Chance of Success with reserves closer to P10

Not All Deep Water Projects are Equal Comparative Deep Water Economics: Well Cost vs Production Rate/Reserves Per Well Brazil/Angola PreSalt + GOM SubSalt Brazil/Angola PreSalt + GOM SubSalt Mauritania + Suriname Mauritania + Suriname Jubilee + Fatala prospect Jubilee + Fatala prospect 1000 1000 2000 2000 3000 3000 4000 4000 18 Depth Meters Below Mud Line GOM SubSalt $150-250MM/Well +20 MBOPD/Well Rate 20-40 MMBO/Well Reserves $50+/BO Full Cycle Economic Mauritania/Suriname $150-300MM/Well 5-10 MBOPD/Well Rate 10-20 MMBO/Well Reserves $80+/BO Full Cycle Economic Brazil/Angola Pre-Salt $150-250MM/Well +20 MBOPD/Well Rate 20-40 MMBO/Well Reserves $60+/BO Full Cycle Economic Jubilee Field/Fatala Prospect $50-75MM/Well +20 MBOPD/Well Rate 20-40 MMBO/Well Reserves $40-50/BO Full Cycle Economic Salt Salt Jubilee/Fatala ProspectGOM SubSaltBrazil/Angola Pre-SaltMauritania/Suriname Well Cost$MM USD Reserves/Well MMBO Rate/Well MBOPD Jubilee Field/Fatala Prospect • Moderate Well Cost, 1500-2500m BML • High Rate/Reserve Wells Brazil/Angola Pre-Salt • High Well Cost, Deep/Salt • High Rate/Reserve Wells GOM SubSalt • High Well Cost, Deep/Salt • High Rate/Reserve Wells Mauritania/Suriname • High Well Cost, Deep/Pressure • Moderate Rate/Reserve Wells

Updated Production Sharing Contract PSC Economics (for each development block) 19 Contract Terms •2006 PSC: Pre-Jubilee terms •Full legal and fiscal stability •Full export capacity •No obligation to remit revenues back to country Timeline •2nd PSC Extension September 2016-2017 for exploration •At end of Extension Period, 2 year Appraisal Period for any discovery in a 500 sq. km block •After Declaration of Commerciality at end of Appraisal Period, 25 year Production License

Current Status and Next Steps •SAPETRO and HDYN signed a Farmout Agreement under which SAPETRO becomes a 50% partner, will reimburse HDYN half of project costs accumulated since September 2016 – currently estimated at $4 million - and shall pay its proportionate share of ongoing project expenditures. • Currently HDYN and SAPETRO are contemplating submitting a set of “transaction documents” to the Government of Guinea in anticipation of obtaining prompt approval of the Farmout. Sharing project risks and optimizing costs • HDYN has assembled top executives on the technical and operational side in order to be the Operator, including bringing in key managers from Anadarko and Noble. • Current schedule allows HDYN to drill at least one and possibly two follow-up wells in order to pursue several developments during the subsequent PSC phases. HDYN prepared to operate exploration phase • Netherland Sewell estimates Fatala has a mean unrisked resource potential of 647 MMBOE. • A discovery with similar parameters in Senegal was recently valued pre-development at $2/BOE. • An initial discovery reduces risk on surrounding prospects with recoverable resources of about 2 billion barrels. 18 20 What is it potentially worth?

Current Exploration Timeline 9/22 5/22 9/22 2016 2017 2nd BH or Fatala Fan Bamboo Well Begin 2-Year Appraisal Period PSC Extension – 1 Exploration Well Minimum Work Obligation Hyperdynamics has the Pacific Scirocco engaged drillship to drill the well and signed a master service agreement with Schlumberger to provide most of the necessary oilfield services. 21

Board of Directors 22 Patricia MollerIan NorburyBill Strange Independent DirectorNon-Executive ChairmanDirector Past U.S. Ambassador to Republic of Guinea andDirector of ESIA Ltd, parent companyRetired Partner of Deloitte & Touche. Republic of Burundi, Chargé d’affaires at the U.S.of Hannon Westwood, a UK41 years of public accounting Embassies for the Kingdom of Morocco andconsultancy firm. 17 Years withexperience in the areas of SEC and RomaniaAmerada Hess Internationalthe energy industry Gary EllistonRay LeonardFred Zeidman Independent DirectorCEO and DirectorDirector Past Senior Founding Partner of DeHay & Elliston,Division Geologist for West Africa andChairman of Gordian Group LLC, a L.L.P., and on the Board of Trustees for Howard V.P with Amoco, Executive with U.S. investment bank, with experience Payne University and the Board of Regents forYUKOS, MOL, and V.P. of Kuwaitas CEO and Chairman of a variety of Baylor UniversityEnergy Companycompanies

Executive Management 23 Forrest EstepDavid Gullickson Vice President - OperationsVice President - Finance and Treasurer VP with Drilling and Completions with Afren, Engineering Project Manager with Anadarko,VP Finance and CFO with multiple energy Transocean, Conoco and Amococompanies, CPA, MPA-UT Austin Ray Leonard President and CEO Division Geologist for West Africa and V.P. Resource Acquisition with Amoco, VP with YUKOS and Kuwait Energy Company, Sr. VP with MOL Randy DitmoreSergey Alekseev Drilling ManagerVice President - Commercial Development Drilling Manager Deepwater Eastern Med. andVP ABN AMRO, First VP and CFO Rosneft, COO GOM with Noble Energy, Drilling ManagerSoyuzneftegaz, MSc.Ec. London School of Economics Azerbaijan (Shah Deniz) BP-Amoco

Summing Up the Guinea Opportunity Multiple large, deepwater fan and Albian shelf prospects - successful elsewhere along the West Africa margin - have been mapped on the Guinea block. Recent discoveries support the geologic concept that the Guinea Basin is similar to other offshore Atlantic Margin provinces. In our evaluation, Offshore Guinea is one of the few offshore deepwater provinces that is economic at current oil prices due to favorable geology and excellent fiscal terms A 1-year license extension through September 2017 enables us to pursue a spring 2017 drilling campaign. The Guinea Basin has been meaningfully de-risked through 3D seismic studies and the Sabu-1 well. Buried Hill prospect is analogous to Senegal discovery containing 640 MMBOE. Bamboo shows similar characteristics to Fatala. Fatala shows a potential mean unrisked recoverable resource of 647 MMBO according to NSAI, is clearly defined, and has direct hydrocarbon indicators on seismic data. We project that a 1-well program can be drilled for approximately $46-$50 million, and a second well for 25% less. 24

 Annexes

 Fatala + Bamboo Reservoir Provenance Source of Reservoir Sandstone for Fatala + Bamboo Prospects 600-1000 meters Thick, Cambrian/Ordovician Sandstone Onshore in the Bove Basin Modern Drainage Systems Rio Nunez5.0 MM SqKm Fatala6.2 MM SqKm Konkoure16.7 MM SqKm Bove Basin Paleozoic Clastics Provenance for Fatala/Bamboo Deep Water Reservoirs 2nd Cycle Paleozoic Clastics Modern Drainage Systems Sandstone Outcrop Sandstone Outcrop Niani Fatala + Bamboo

Direct Hydrocarbon Indicators, DHI Fatala Prospect, Guinea 1.Down Dip Structural Conformance:eSeis Lithology/AVO 2.Down Dip Structural Conformance:Tullow Ultra-Far Offsets 3.Down Dip Structural Conformance:Near Trace Trough Amplitude eSeis + CGG 4.Velocity + Frequency Anomalies that Conform to Fatala Amplitude 5.Pore Pressure from Velocity + Frequency Indicate Fatala Fault is Sealing Up Dip 6.Anisotropic Velocity in Overlying Shales Indicating a Gas Cloud Above Fatala 7.Near Trace Flat Peak at 5260m Representing Oil/Water Contact 8.CGG Gather Response, Near to Mid Amplitude: Oil Sand = Flat, Wet Sand = Dim Dip Arb-Line Down-Dip Up-Dip Pinchout + Fault Erosional Channel Lateral Seal Map Up-Dip Pinchout + Fault Strike Lines ConformanceErosional Channel Lateral Seal 5260m Down-Dip Conformance Erosional Channel Lateral Seal DHI, Oil/Water Contact Defined By: Depth Structural Conformance Near Trace Peak: Oil Sand to Wet Sand Near to Mid Gather Amplitude Response: Wet Sand Dims + Oil Sand Stays Bright Structural Conformance: eSeis Lithology/AVO Tullow Ultra-Far Offsets Near Trace Trough Amplitude Velocity + Frequency Anomalies: Conform to Fatala Amplitude Pore Pressure: Higher in Fatala Prospect + Lower Above Sealing Fault Lateral Seal: Fatala Prospect in Cenomanian Canyon Fill 100-200m Erosional Relief 95my Sequence Boundary

DHI 1+2+3Fatala Prospect, Guinea Down Dip Structural Conformance: eSeis Lithology/AVO, Ultra-Far Offset Amplitude + eSeis/CGG Near Trace Dip Arb-Line eSeis Lithology/AVO eSeis Lithology/AVO I 1430 eSeis Lithology/AVO I 1310 Dip Arb-Line Ultra-Far Stack 50-60 Ultra-Far Stack 50-60 I 1430 Ultra-Far Stack 50-60 I 1310 Dip Arb-Line eSeis Near Trace Stack eSeis Near Trace AMP I 1430 eSeis Near Trace Stack I 1310

eSeis Near to Far Offset Brightening Amplitude Dip Arb-Line Interval Velocity Interval Velocity I 1430 Interval Velocity I 1310 Low Velocity Anomaly Fatala Prospect Low Velocity Anomaly Dip Arb-Line Q Frequency Q Frequency I 1430 Q Frequency Fatala Prospect Low Velocity Anomaly I 1310 Low Frequency Anomaly Dip Arb-Line eSeis Near Offset Stack Dip Arb-Line eSeis Far Offset Stack

Anisotropic Velocity in Overlying Shales Indicating a Gas Cloud Above Fatala Dip Arb-Line Pore Pressure Velocity Pore Pressure Velocity I 1430 Pore Pressure Velocity Dip Arb-Line Lower Velocity Pore Pressure Above Sealing Fault Higher Velocity Pore Pressure Fatala Prospect Pore Pressure Frequency Pore Pressure Frequency I 1310 I 1430 Higher Velocity Pore Pressure Pore Pressure Frequency Lower Frequency Pore Pressure Above Sealing Fault I 1310 Higher Frequency Pore Pressure Dip Arb-Line Gas Cloud Above Fatala Prospect Higher Frequency Pore Pressure Fatala Prospect Near Far Velocity Ratio Gas Cloud Above Fatala I 1430 Near Far Velocity Ratio Gas Cloud Above Fatala Prospect I 1310 Far Velocity >5% Faster than Near Veloicty

eSeis Near Trace Dip Line + CGG Gathers Fatala-1 Well Gather Locations G-1G-2G-3G-4G-5G-6 Gather Trough -Peak + Amplitude Amplitude NearMidFar 5260m Oil/Water Contact Flat Near Trace Peak Fatala-1 Well G-1G-2G-3G-4G-5G-6 Oil Sand Top Oil Sand 5260m Oil/Water Contact Wet Sand

Down Dip Structural Conformance: eSeis Lithology/AVO Bamboo Geologic Model 95my Ceno SB Erosional Surface Defined by gravel GU-2B-1 well Bamboo-1 Down Dip Conformance 5700m Oil/Water Contact 5700m O/W Contact 95my Ceno SB Erosional Surface Defined by Gravel in the GU-2B-1 well 95my Ceno SB Erosional Surface Defined by gravel in the GU-2B-1 well 5700m Down Dip Conformance

DHI 7+8Bamboo Prospect, + CGG Gat Gather Locations ogy/AVO Dip Line Bamboo-1 Well hers eSeis Lithol G-6 G-7 G-8 G-9 G-10 5700m Oil/Water Contact Bamboo-1 Well eSeis Lithology/AVO Distance from Origin in Intercept/Gradient Space Gather Trough -Peak + Amplitude Amplitude NearMidFar G-1G-2G-3G-4G-5G-6 Oil Sand G-7 G-8 G-9 G-10 Top Oil Sand Bamboo + Milo Prospects Wet Sand 5700m Oil/Water Contact CGG Gathers

 Contacts: Ray Leonard President and Chief Executive Officer 713-353-9445 Anne Pearson / Jack Lascar Dennard-Lascar Associates 713-529-6600 investor@Hyperdynamics.com www.Hyperdynamics.com