Hyperdynamics CEO says DOJ probe shouldn't affect Guinea drilling

|About: Hyperdynamics Corporation (HDY)|By:, SA News Editor

A federal probe into Hyperdynamics' (HDY) business dealings is not expected to affect the company's ability to develop a massive oilfield off the coast of Guinea, according to CEO Ray Leonard.

HDY is exploring an 18,750 sq. km area off the African coast with Tullow (TUWLF.PK, TUWOY.PK) and KNOC'S Dana; Leonard says he hasn't discussed the probe yet with the partners.

Shares plunged 15% today after the Justice Department said late yesterday it had requested documents relating to HDY's business in Guinea.