Hyperdynamics Corporation said it has filed legal action against its partners under the Joint Operating Agreement governing the oil and gas exploration rights offshore Guinea.
The company’s subsidiary, SCS corporation, has also filed parallel actions in the US District Court for the Southern District of Texas and before the American Arbitration Association against Tullow Guinea Ltd.
Hyperdynamics alleges Tullow Oil and Dana Petroleum failed to meet their obligations under the agreement and the production sharing contract with the Government of Guinea.
The two legal actions are seeking a determination that Tullow and Dana are in breach of their contractual obligations and an order which would require the two companies to move forward with well drilling activities offshore Guinea.
The company is also calling for action over alleged damages caused by delays in well drilling “caused by the activities of Tullow and Dana”.
Hyperdynamics determined to bring the legal actions only after it became apparent that Tullow and Dana would not move forward, despite many opportunities to do so, with petroleum operations.
Ray Leonard, chief executive, said:”We bring these lawsuits with reluctance, and only after concluding that all other avenues available to us have been exhausted.
“Having watched Dana and Tullow send the unsigned PSC amendment back and forth to each other repeatedly, we determined that neither of our partners was prepared to honor the commitments made to us and to the Government of Guinea to proceed with drilling.
“We therefore had no choice but to pursue our rights by the only means left open to us. We plan to continue with all efforts to get this well drilled.”