Guinea: Hyperdynamics files for bankruptcy

Texan junior Hyperdynamics filed for bankruptcy on 22 December, after a Chinese investor pulled out of a deal to buy 53% of the company following the failure of drilling offshore Guinea. Hyperdynamics announced in November that it had reached a definitive agreement to sell 40m shares to CLNG Limited (Hong Kong) for $6m, but in December the Guinean government turned down its request to extend the licence, which was the company’s sole asset.