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HYPERDYNAMICS CORPORATION (OTCMKTS:HDYN) Files An 8-K Changes in Registrant’s Certifying Accountant

HYPERDYNAMICS CORPORATION (OTCMKTS:HDYN) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01. Changes in Registrant’s Certifying Accountant.

On November15, 2017, Hein& Associates LLP (“Hein”) notified the Board of Directors of Hyperdynamics Corporation (the “Company”) that it declined to stand for reappointment as the Company’s independent registered public accounting firm to audit the Company’s financial statements for the fiscal year ending June30, 2018. The Audit Committee of the Company’s Board of Directors did not recommend or approve the change in accountants.

Neither of the reports of Hein on our financial statements for the fiscal years ended June30, 2016 and 2017, contained an adverse opinion or disclaimer of opinion, or was qualified or modified as to uncertainty, audit scope or accounting principles, except that each such report included an explanatory paragraph relating to an uncertainty as to the Company’s ability to continue as a going concern.

During the Company’s fiscal years ended June30, 2016 and 2017, and the period from July1, 2017 to the date of their declination, there were no (a)disagreements with Hein, whether or not resolved to the former accountant’s satisfaction, on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Hein, would have caused them to make reference to the subject matter of the disagreement in connection with their report on the Company’s financial statements, or (b)reportable events described in Item 304(a)(1)(v)of Regulation S-K, except as follows:

As reported in the Company’s Annual Report on Form10-K for the fiscal year ended June30, 2017, as of June30, 2017, the Company’s internal control over financial reporting was ineffective.During the fiscal year 2017, the Company experienced turnover in its accounting group and as of June30, 2017, it lacked a sufficient number of competent accounting personnel.This material weakness in the Company’s internal controls over financial reporting had a material adverse impact on its quarterly and annual financial close process and reporting. The Company is in the process of remediating this weakness by adding additional competent accounting personnel. The Audit Committee of the Company’s Board of Directors discussed this matter with Hein, and the Company has authorized Hein to respond fully to the inquiries of the successor accountant concerning this matter.

The Company provided Hein with a copy of the disclosures it is making in this Report and has requested that Hein furnish it with a letter addressed to the Securities and Exchange Commission stating whether they agree with the above statements and, if not, stating the respects in which they do not agree. A copy of Hein’s letter is filed herewith as Exhibit16.1.

A new independent accountant has not yet been engaged.

Item 9.01. Financial Statements and Exhibits.

HYPERDYNAMICS CORP ExhibitEX-16.1 2 a17-26138_2ex16d1.htm EX-16.1 Exhibit 16.1   November 20,…To view the full exhibit click here
About HYPERDYNAMICS CORPORATION (OTCMKTS:HDYN)
Hyperdynamics Corporation is an independent oil and gas exploration company with prospects in offshore Republic of Guinea (Guinea) in Northwest Africa pursuant to rights granted to the Company by Guinea (the Concession) under a Hydrocarbon Production Sharing Contract (PSC). The Company’s primary focus is the advancement of exploration work in Guinea. The Company, through its subsidiary, SCS Corporation Ltd, conducts international oil and gas exploration activities in Guinea. The Company is conducting its work in Guinea under the PSC. The Company is having certain contractual rights to explore and exploit offshore oil and gas reserves, if any, off the coast of Guinea (the Contract Area). Its prospects are in an underexplored basin with Turbidite fans and four-way closures. As of June 30, 2016, the Contract Area in the Concession was 18,750 square kilometers. The Company has not generated any revenues.

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