UNITED STATES
                        SECURITY AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-QSB

[X]  Quarterly  report  pursuant  to  Section  13  or 15(d) of the Securities
     Exchange  Act  of  1934:  For  the  quarterly  period
     ended:  December 31, 2001
            ------------------

                                       or

[ ]  Transition  report  pursuant  to  Section 13 or 15(d) of the Securities
     Exchange  Act  of  1934:  For  the  transition  period
     from _______ to _________


     Commission file number:                               000-25496


                            HYPERDYNAMICS CORPORATION
             (Exact name of registrant as specified in its charter)


                Delaware                                 87-0400335
     (State or other jurisdiction                      (IRS Employer
     of incorporation or organization)              Identification No.)

                           9700 Bissonnet, Suite 1700
                              Houston, Texas 77036
          (Address of principal executive offices, including zip code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.  Yes  X     No
                                             ---       ---

                      APPLICABLE ONLY TO CORPORATE ISSUERS

As  of  December  31, 2001, 18,481,654 shares of common stock, $0.001 par value,
were outstanding.
   Transitional Small Business Disclosure Format  (check one): Yes [ ] No [X]


<PAGE>
                                TABLE OF CONTENTS

Part I  Financial Information

   ITEM 1  Financial Statements                               3

     Consolidated Balance Sheet at
          December 31, 2001 (unaudited)                       3

     Consolidated Statements of Income for the three
           and six months ended December 31, 2001
          and 2000 (both unaudited)                           4

     Consolidated Statements of Cash Flows for the six
          months ended December 31, 2001 and 2000
          (both unaudited)                                    5

     Notes to Consolidated Financial Statements               6

   ITEM 2  Management's Discussion and Analysis of Financial
           Condition and Results of Operations                7

Part II  Other Information                                   10

   ITEM 1   Legal Proceedings                                10

   ITEM 2  Changes in Securities                             10

   ITEM 6  Exhibits and Reports on Form 8-K                  10

     (a)  Exhibits
     (b)  Reports on Form 8-K

SIGNATURES                                                   11


2
<PAGE>
<TABLE>
<CAPTION>
                          PART 1 FINANCIAL INFORMATION

Item 1  FINANCIAL  STATEMENTS


                              HYPERDYNAMICS CORPORATION
                              Consolidated Balance Sheet
                                  December 31, 2001


ASSETS
Current Assets
<S>                                                                      <C>
                                                                   Cash  $    39,719

                                      Restricted certificate of deposit       87,260
  Accounts receivable, net of allowance for doubtful accounts of $7,290       12,566
                                                              Inventory       51,363
                                     Advances to officers and directors       17,700
                                                   Other current assets        4,725
                                                                         ------------
                                                   TOTAL CURRENT ASSETS      213,333
                                                                         ------------
    Property and Equipment, net of accumulated depreciation of $194,361      758,614
Other Assets
                                      Restricted certificate of deposit      283,595
              Customer list, net of accumulated amortization of $36,933       14,067
                                                               Deposits       23,432
                                                                         ------------
                                                     Total other assets      321,094
                                                                         ------------
TOTAL ASSETS                                                             $ 1,293,041
                                                                         ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
                                    Current portion of installment debt  $    18,357
                                  Accounts payable and accrued expenses      341,632
                                                           Accrued rent      141,248
                                                      Dividends payable      158,827
                                     Dividends payable to related party       63,583
                                                                         ------------
                                              TOTAL CURRENT LIABILITIES      723,647
                                                                         ------------
                                  LONG-TERM PORTION OF INSTALLMENT DEBT       72,329
                                                                         ------------
Stockholders' Equity
        Preferred stock, par value $0.001; 20,000,000 shares authorized
                         Series A - 1,945 shares issued and outstanding            2
                         Series B - 2,725 shares issued and outstanding            3
          Common stock, par value $0.001; 50,000,000 shares authorized;
                              18,481,654 shares issued and outstanding.       18,482
                                             Additional paid-in capital    7,382,074
                                                       Retained deficit   (6,903,496)
                                                                         ------------
                                             Total stockholders' equity      497,065
                                                                         ------------
                             Total Liabilities and Stockholders' Equity  $ 1,293,041
                                                                         ============
</TABLE>


3
<PAGE>
<TABLE>
<CAPTION>
                            HYPERDYNAMICS CORPORATION
                         Consolidated Income Statements
             3 Months and 6 Months ended December 31, 2001 and 2000



                                                       3  MONTHS  ENDED                     6  MONTHS  ENDED
                                                   2001               2000               2001              2000
                                             -----------------  -----------------  ----------------  -----------------
<S>                                          <C>                <C>                <C>               <C>
Revenues                                     $        126,740   $        135,341   $       209,809   $        266,130
Cost of Revenues                                      152,959            360,067           311,941            601,753
                                             -----------------  -----------------  ----------------  -----------------
  GROSS MARGIN                                        (26,219)          (224,726)         (102,132)          (335,623)
                                             -----------------  -----------------  ----------------  -----------------
Operating Expenses
  Selling                                              14,916             41,071            66,461             94,108
  General and
  Administrative                                    1,338,493            239,069         1,607,947            577,387
  Depreciation                                         37,991             43,916            85,779             52,256
                                             -----------------  -----------------  ----------------  -----------------
TOTAL OPERATING
  EXPENSES                                          1,391,400            324,056         1,760,187            723,751
                                             -----------------  -----------------  ----------------  -----------------
OPERATING LOSS                                     (1,417,619)          (548,782)       (1,862,319)        (1,059,374)

Other Income
(Expense)
(Loss) on
  retirement of assets                                                   (15,610)                             (15,610)
Impairment (loss)                                                        (25,057)                             (21,557)
Other                                                   2,874                978             2,874                978
  Interest income                                       3,963             20,551             8,036             53,134
  Interest expense                                     (2,739)              (693)           (5,719)              (693)
                                             -----------------  -----------------  ----------------  -----------------
NET LOSS                                           (1,413,521)          (568,613)  $    (1,857,128)  $     (1,043,122)

PREFERRED
DIVIDEND
REQUIREMENT                                           (35,409)           (30,027)          (82,527)           (56,357)
NET LOSS                                     -----------------  -----------------  ----------------  -----------------
CHARGEABLE TO
COMMON
SHAREHOLDERS                                 $     (1,448,930)  $       (598,640)  $    (1,939,655)  $     (1,099,479)
                                             =================  =================  ================  =================

NET LOSS PER
COMMON SHARE                                 $           (.09)  $           (.04)  $          (.13)  $           (.08)
Weighted average
shares outstanding                                 16,123,351         13,597,070        15,470,148         13,345,360
</TABLE>


4
<PAGE>
<TABLE>
<CAPTION>
                            HYPERDYNAMICS CORPORATION
                      Consolidated Statements of Cash Flows
                    6 Months Ended December 31, 2001 and 2000



                                                  2001          2000
                                              ------------  ------------
<S>                                           <C>           <C>
Cash flows from operating activities
                                    Net loss  $(1,857,128)  $(1,043,122)
Adjustments to reconcile net income to cash
provided from operating activities
               Depreciation and amortization       85,779        52,256
                                  Impairment                     21,557
                Loss on retirement of assets                     15,610
                 Options and warrants issued       21,910        70,777
            Common stock issued for services    1,075,000       110,375
Changes in:
                         Accounts receivable       18,122       372,683
                                   Inventory       (5,185)       (4,322)
                                Other assets       25,802         9,137
       Accounts payable and accrued expenses      142,811       386,047
                                              ------------  ------------
      NET CASH USED FOR OPERATING ACTIVITIES     (492,888)      ( 9,002)
                                              ------------  ------------
Cash flows from investing activities
                    Construction in progress                   (501,739)
                       Purchase of equipment       (3,611)     ( 81,084)
                                              ------------  ------------
      NET CASH USED FOR INVESTING ACTIVITIES       (3,611)    ( 582,823)
                                              ------------  ------------
Cash flows from financing activities
                   Purchases of common stock                   (  2,602)
 Collection of stock subscription receivable       95,000
Release of restricted certificate of deposit       65,445
              Proceeds from installment debt                     78,698
                Payments on installment debt       (8,291)       (1,001)
          Proceeds from sale of common stock      349,800        18,819
                                              ------------  ------------
 NET CASH PROVIDED FROM FINANCING ACTIVITIES      501,954        93,914
                                              ------------  ------------
Net increase (decrease) in cash                     5,454      (497,911)
                 CASH AT BEGINNING OF PERIOD       34,265     1,033.435
                                              ------------  ------------
                       CASH AT END OF PERIOD  $    39,719   $   535,524
                                              ============  ============
</TABLE>


5
<PAGE>
                            HYPERDYNAMICS CORPORATION
                          NOTES TO FINANCIAL STATEMENTS

1.   The unaudited consolidated financial statements of Hyperdynamics
     Corporation have been prepared in accordance with generally accepted
     accounting principles and the rules of the Securities and Exchange
     Commission ("SEC"), and should be read in conjunction with the audited
     financial statements and notes thereto contained in the Company's latest
     Annual Report filed with the SEC on Form 10-KSB. In the opinion of
     management, all adjustments, consisting of normal recurring adjustments,
     necessary for a fair presentation of financial position and the results of
     operations for the interim periods presented have been reflected herein.
     The results of operations for interim periods are not necessarily
     indicative of the results to be expected for the full year. Notes to the
     financial statements which would substantially duplicate the disclosures
     contained in the audited financial statements for the most recent fiscal
     year, 2001, as reported in the Form 10-KSB, have been omitted.

2.   During the six months ended December 31, 2001 324,750 options were
     exercised for $199,800 and 100,000 shares were issued upon the cashless
     exercise of 300,000 warrants with an exercise price of $.40 when the market
     price was $.60. 1,136,588 shares were issued to professionals in payment of
     legal costs accrued in the prior year or to extinguish accounts payable of
     $905,274. We issued 2,197,872 valued at $1,075,000 to consultants for
     services rendered in the quarter ended December 31, 2001. We issued 350,000
     shares for $150,000 invested pursuant to private subscription agreements.
     Also during the six months, we extended the expiration date of warrants
     issued to consultants to purchase 150,000 shares of common stock at
     exercise prices ranging from $1.25 to $1.50 resulting in compensation
     expense of $21,910, which is reflected as an increase in additional paid-in
     capital. As of February 5, 2002, 75,452 shares were issued to settle
     accounts payable of $40,745 and 100,000 shares were purchased for cash of
     $50,000.

3.   Segment information. During the six months ended December 31, 2000, the
     company had no reportable segments. During the six months ended December
     31, 2001, the company had two reportable segments, geophysical data
     services (SCS) and integrated technology segment (HYPD). The following
     tables summarize certain balance sheet and income statement data as
     required by SFAS 131:

<TABLE>
<CAPTION>
As  of  December  31,  2001:

                                           HYPD          SCS          Totals
                                        -----------  ------------  ------------
<S>                                     <C>          <C>           <C>
         Segment assets                 $1,243,361   $    49,680   $ 1,293,041

3 Months Ended December 31, 2001:
                                           HYPD          SCS          Totals
                                        -----------  ------------  ------------
         Revenues                       $   45,526   $    81,214   $   126,740
         Cost of sales                     (73,115)     ( 79,844)     (152,959)
         Selling, general and
           administrative                 (269,951)   (1,083,458)   (1,353,409)
         Depreciation and amortization     (37,047)         (944)      (37,991)
         Interest income                     3,963                       3,963
         Interest expense                   (2,739)                     (2,739)
         Other income                        2,874                       2,874
                                        -----------                ------------
         Net loss                       $ (330,489)  $(1,083,032)  $(1,413,521)
                                        ===========  ============  ============

         Expenditures for long-lived
           assets                       $    2,166                 $     2,166


6
<PAGE>
6 Months Ended December 31, 2001:

                                           HYPD          SCS          Totals
                                        -----------  ------------  ------------
         Revenues                       $   88,199   $   121,610   $   209,809
         Cost of sales                    (186,784)     (125,158)     (311,942)
         Selling, general and
           administrative                 (543,242)   (1,131,165)   (1,674,407)
         Depreciation and amortization     (83,891)       (1,888)      (85,789)
         Interest income                     8,036                       8,036
         Interest expense                   (5,719)                     (5,719)
         Other income                        2,874                       2,874
                                        -----------  ------------  ------------
         Net loss                       $ (720,527)  $(1,136,601)  $(1,857,128)
                                        ===========  ============  ============

         Expenditures for long-lived
           assets                       $    3,611                 $     3,611
</TABLE>


              CAUTIONARY  STATEMENT ON FORWARD-LOOKING INFORMATION

The  Company  is including the following cautionary statement to make applicable
and  take  advantage  of  the  safe  harbor provision of  the Private Securities
Litigation  Reform Act of 1995 for any forward-looking statements made by, or on
behalf  of,  the  Company.   This  quarterly  report  on  form  10QSB  contains
forward-looking  statements.  Forward-looking  statements  include  statements
concerning  plans, objectives, goals, strategies, expectations, future events or
performance and underlying assumptions and other statements which are other than
statements  of  historical  facts.  Certain  statements  contained  herein  are
forward-looking  statements  and,  accordingly,  involve risks and uncertainties
which  could  cause  actual  results or outcomes to differ materially from those
expressed  in  the  forward-looking  statements.  The  Company's  expectations,
beliefs  and  projections  are  expressed  in good faith and are believed by the
Company  to have a reasonable basis, including without limitations, management's
examination  of  historical  operating  trends,  data contained in the Company's
records  and  other  data  available  from  third  parties,  but there can be no
assurance  that management's expectations, beliefs or projections will result or
be achieved or accomplished.  In addition to other factors and matters discussed
elsewhere  herein,  the following are important factors that, in the view of the
Company, could cause actual results to differ materially from those discussed in
the forward-looking statements: the ability of the Company to respond to changes
in  the  information  system  environment,  competition,  the  availability  of
financing, and, if available, on terms and conditions acceptable to the Company,
and  the  availability  of  personnel  in  the  future.

Item  2     Management's  Discussion  and  Analysis  of  Financial Condition and
Results  of  Operations

Results  of  Operations

     Integrated  Technology  (IT)  Service  Segment
     Integrated  technology  service  sales  decreased  from $266,130 to $89,199
     because  during  calendar  2001  we  effectively ceased our old business of
     sales  and  support of computer hardware and software. When we moved to our
     new facilities in Spring 2001, we began offering our Hypersource integrated
     technology outsourcing service. We expect this service ultimately to result
     in a recurring revenue base, but to date the sales of this service offering
     have  been  slower than expected. We are also pursuing IT projects and hope
     to  show  significant  results  during  fiscal  2002.

     Cost  of  Revenues  decreased  to  $186,784  for  the  six (6) months ended
     December  31,  2001. This compared to $601,753 for the same period in 2000.
     The  reduction  is due to the drop in revenues and also due to the one-time
     inventory  charges  that were taken last year. Additionally, we had staffed
     up  in 2000 in preparation for our migration to the ITC business model, but
     we  later reduced our workforce. Therefore, employee costs are lower in the
     six  months  ended  December 31, 2001 as compared with the six months ended
     December  31,  2000.

     For  the  six  (6)  month  period  ended  December  31,  2001, gross margin
     decreased  to  (112)%  compared  to  (95)% for the same period in 2000. The


7
<PAGE>
     decrease  is due to the overall drop in service revenues resulting from the
     slow  ramp-up  of the new facility. As we ramp up the incremental costs are
     few,  so  we  expect to achieve much better margins once we book additional
     ITC  business.

     Selling,  General and Administrative expenses increased to $ 627,133 in the
     six  (6) month period ending December 31, 2001, as compared to $607,148 for
     the  same period in 2000. The December 2000 results have been restated from
     the  amounts  previously  reported  to  reflect  the fair value of warrants
     issued to consultants of $70,777 and other minor expenses. The net increase
     is  a  reflection  of a decrease in salary and consulting expense countered
     with  increased  rent  and  depreciation  expense.

     Net  Loss.  Our  net loss was ($720,527) for the six (6) month period ended
     December  31,  2001.  This  compares  to  a loss of ($872,937) for the same
     period in 2000. As discussed above this is due to significant reductions in
     inventory,  salaries, and consulting costs counterbalanced by reductions in
     revenue  and  increases  in  rent,  utilities,  and  depreciation  expense.

     Geophysical  Data  Services  Segment
     In our first six months operating the Geophysical Data Services Segment, we
     generated  revenues of $121,610 and a gross margin of ($3,548) or (3%). Net
     loss  attributable  to this segment was $(1,136,601). The large increase in
     Selling, General, and Administrative expense is mainly due to $1,075,000 of
     consulting  costs  paid  during  the  quarter  with stock. This cost is not
     expected  to  be  recurring.

Liquidity  and  Capital  Resources

     At  December  31,  2001  our  current  ratio  of  current assets to current
     liabilities  was  0.29.  This  compares to 1.45 for 2000. This reflects the
     funding  of  cash deficits, which resulted from operating losses during the
     year.  Although  management has prospects for additional equity funding, it
     is management's priority to generate positive cash flows from operations as
     soon  as possible. See the "General Discussion and Prospective Information"
     below  regarding  our  plans  for  significantly  improved  liquidity.

     We received the first release of $65,225 from the CD securing our letter of
     credit  in  favor of our landlord during November 2001. The next release of
     $87,260  will  occur  next  November.

     We  may  obtain  additional  capital upon the exercise of previously-issued
     warrants  and  outstanding  options  for  common  stock.

     On September 28, 2001, the Company signed a stock subscription agreement to
     sell  up  to $750,000 on a best efforts basis, of our restricted 144 common
     stock  to IC Investments LTD at $.50 per share. As of February 15, 2002, we
     have  received  $265,000  in  connection  with  this  agreement.

General  Discussion  and  Prospective  Information

     This  year  has  been  a  continuation  of  our  pursuit to ramp up our new
     facility  and  close  and  implement  new recurring revenues under our ITSP
     business  model  and  a  diversification  into  the  more  vertical focused
     geophysical  data  services industry. Both segments of business utilize the
     same  integrated technology center (ITC) infrastructure built and initiated
     last  year.  The  integrated  technology  (IT) services industry, since the
     demise of the dot-coms has been in major flux over the last few years. As a
     result,  the  development of our IT services segment of business has proven
     to come much slower than originally expected. We believe this is due mainly
     to  the  general  business  downturn  and to the long educational and sales
     cycles  required  to  get  our  target  IT  customers  to  understand  the
     cost/benefits  of  our  product and service offerings which is necessary to
     close  new  business.  The IT industry has been so unstable that it is more
     difficult  today  to  convince  customers to entrust their mission-critical
     data to an outside vendor. This is a success breeds success scenario. As we


8
<PAGE>
     get  more  business,  new  customers become easier and easier to close. The
     complete outsourcing of the technology needs of mid-sized businesses is the
     niche  our IT services segment seeks to occupy, and we have not pursued and
     do  not  plan to pursue conventional IT business, except for larger core IT
     infrastructure  opportunities  we  have  been developing with international
     partners  whereby  we  will  design,  implement  and manage IT systems that
     communicate  via  our  ITC infrastructure. We expect to announce more about
     these core infrastructure deals in the coming weeks. Our marketing approach
     focuses  on  relationships  -  we  differentiate  ourselves  by  offering
     comprehensive  integrated  business solutions tailored to our customers and
     we have built synergetic relationships with business partners such as AT&T,
     Lightspeed  Systems, Premiere Media Group, MaxVu, and others, which expands
     both  our  contact  base  and  our potential offerings to our customers. In
     essence  our personnel resources through our strategic alliances are in the
     hundreds  and  even  thousands,  while  our  own payroll is currently at 12
     people.  We  believe  the  value of this approach is that we can compete on
     quality bundled services that have superior cost/benefit overall and not on
     price  alone  for  one particular piece. Thus, we can participate in higher
     margin  business that is much more beneficial to our clients and ourselves.
     This  is  a  difficult  business  strategy  to take initially, particularly
     during  a business downturn, because customers become more price-sensitive.
     However,  we  believe  that educating our customers regarding concepts like
     total  cost-of-ownership,  and  providing  a  complete, customized business
     solution  rather  than  competing  based  only on price is key to long-term
     success  in  this  industry. We currently have a number of IT contracts and
     projects  under negotiation and plan to continue to aggressively market our
     capabilities.

     We  have experienced difficulty in generating revenues and profitability in
     both  our  operating  segments  so  far this year, however we are extremely
     encouraged  with  the  work  starting  up for the Geophysical Data Services
     segment.  Although  we  do have significant (IT) business that we have been
     working  on  and  expect  to  close  in  the near future, management made a
     significant  decision  last  year to diversify and acquire SCS Corporation.
     The  activities  of  the  geophysical  data  segment have been concentrated
     significantly on a significant contract to convert thousands of geophysical
     data  tapes  to  DVD, as discussed our latest Annual Report on Form 10-KSB.
     The  expectation from the acquisition was to close this currently available
     business  that  could  significantly  enhance our cash flow from operations
     first  and  ultimately  our  profitability  in the future. We completed the
     acquisition with the expectation that we would close the tape transcription
     project  in  October  of  2001  and  startup  work  in November. Based on a
     reorganization  of  the  client,  this time frame was pushed back until our
     most  recent  announcement on February 14, 2002. The SCS Acquisition is now
     beginning  to  meet  our  original  expectations and based on this contract
     coming  completely  online operationally and other business for SCS such as
     PrimeView  seismic  interpretation  subscription  operations  and  data
     brokerage,  we  expect  SCS  will  substantially  exceed those expectations
     before  the  end  of  this  fiscal  year.

     Since  management's  priority  focus  is  on  increasing  recurring service
     revenues  as quickly as possible so that the Company cash flows itself from
     its  operations,  the  officers  for  the  Company have voluntarily given a
     moratorium  on receiving their salaries since December 1, 2001. Although it
     does  not  appear  that  we  will  cash flow from operations during the 3rd
     quarter  to  end  March  31,  2002, with the tape transcription project now
     coming online, the company expects substantial improvement by significantly
     increasing  cash  from operations without increasing overhead burdens. This
     transcription  project,  together  with the moratorium on officer salaries,
     will  give  us a real chance to completely cash flow from operations in the
     fourth  quarter  of fiscal year end June 30, 2002. This is expected to be a
     major milestone and will put the company into a significant growth mode for
     the  future.

     Based  on  our  five-year  plan,  and  during this process of contractually
     filling  up  our initial ITC space, we plan to raise additional capital for
     expansion  of  our  facility at its first ITC and to initiate ITCs number 2
     and  3  in  a  different  parts of the country and/or in foreign countries.
     While  these  facilities  are  coming  online,  cash  flowing, and becoming
     profitable, we will be looking to contract with the appropriate underwriter
     to  put  together  a  major secondary offering to expand our business model
     nationally  and  internationally.


9
<PAGE>
                          PART II     OTHER INFORMATION

ITEM  1.  Legal  Proceedings


The  lawsuit  styled  Cherie  Dunn  v.  Hyperdynamics  Corporation,  Cause  No.
2000-27220,  80th  Judicial  District  Court,  Harris  County, Texas was settled
during  the  quarter.


ITEM  2.  Changes  in  Securities

We  have  effected  the  following transactions in reliance upon exemptions from
registration under the Securities Act of 1933 as amended (the "Act") as provided
in  Section  4(2)  thereof.  Each certificate issued for unregistered securities
contained  a  legend  stating that the securities have not been registered under
the  Act  and setting forth the restrictions on the transferability and the sale
of  the  securities.  No  underwriter  participated  in,  nor  did  we  pay  any
commissions  or  fees  to  any  underwriter  in  connection  with  any  of these
transactions.  None  of the transactions involved a public offering.  We believe
that  each person had knowledge and experience in financial and business matters
which  allowed  them  to  evaluate  the  merits and risks of our securities.  We
believe  that  each  person was knowledgeable about our operations and financial
condition.

In  October  2001,  warrants  to  purchase 50,000 shares at $1.25 per share were
granted  to Tarrant Hancock for consulting services.  We valued these options at
$1,000.  The  expiration date of these warrants is October 18, 2002.  This was a
private  placement  made  in  reliance  on  Section  4(2)  of  the  Act.

Between  September  2001  and  January  31, 2002, we issued 400,000 shares to IC
Investments,  LTD  pursuant  to $200,000 cash payments which have been made on a
subscription agreement to purchase up to 1,500,000 shares of common stock.  This
was  a  private  placement  made  in  reliance  on  Section  4(2)  of  the  Act.

In  November  2001,  Darren-Anthony  Lumar,  a  former  officer  of the Company,
received  100,000  shares  of  restricted  stock in connection with the cashless
exercise of 300,000 warrants which had been issued to him on July 25, 2001. This
was  a  private  placement  made  in  reliance  on  Section  4(2)  of  the  Act.

In  December 2001, Earl Norwood purchased 100,000 shares of restricted stock for
$25,000  and  received  warrants  to purchase an additional 100,000 shares at an
exercise  price  of  $1.00  pursuant  to  a  subscription agreement.  This was a
private  placement  made  in  reliance  on  Section  4(2)  of  the  Act.


Item  6     Exhibits  and  Reports  on  Form  8-K
     (a)  EXHIBITS
          None

     (b)  REPORTS  ON  FORM  8-K
          None.



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Signature

Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  Report  to  be  signed on its behalf by the
undersigned  thereunto  duly

                                                       HyperDynamics Corporation
                                                                    (Registrant)

                                                            By:  /s/  Kent Watts
                                                               -----------------
                                              Kent Watts, Chairman of the Board,
                           Chief Executive Officer, and Chief Accounting Officer

Dated:  February  18,  2002


11
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