SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BRIERS HARRY JAMES

(Last)

(First)

(Middle)

9700 BISSONNET

SUITE 1700

(Street)

HOUSTON

77036

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HYPERDYNAMICS CORP [ HYPD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/27/2001

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock par value $.001	11/27/2001	11/27/2001	S		2,500	D	$0.5	97,500	D
Common Stock par value $.001	11/29/2001	11/29/2001	S		2,500	D	$0.5	95,000	D
Common Stock par value $.001	12/20/2001	12/20/2001	S		2,500	D	$0.5	92,500	D
Common Stock par value $.001	12/21/2001	12/21/2001	S		1,000	D	$0.65	91,500	D
Common Stock par value $.001	01/04/2002	01/04/2002	S		1,500	D	$0.61	90,000	D
Common Stock par value $.001	03/21/2002	03/21/2002	S		1,250	D	$0.54	88,750	D
Common Stock par value $.001	03/22/2002	03/22/2002	S		1,250	D	$0.54	87,500	D
Common Stock par value $.001	04/23/2002	04/23/2002	S		1,250	D	$0.52	86,250	D
Common Stock par value $.001	04/26/2002	04/26/2002	S		1,250	D	$0.49	85,000	D
Common Stock par value $.001	05/06/2002	05/06/2002	S		1,250	D	$0.4	83,750	D
Common Stock par value $.001	08/06/2002	08/06/2002	S		2,000	D	$0.34	81,750	D
Common Stock par value $.001	08/06/2002	08/06/2002	S		2,000	D	$0.3	79,750	D
Common Stock par value $.001	08/09/2002	08/09/2002	S		2,000	D	$0.3	77,750	D
Common Stock par value $.001	09/09/2002	09/09/2002	S		2,000	D	$0.3	75,750	D
Common Stock par value $.001	09/10/2002	09/10/2002	S		2,000	D	$0.32	73,750	D
Common Stock par value $.001	11/13/2002	11/13/2002	S		5,000	D	$0.3	68,750	D
Common Stock par value $.001	11/14/2002	11/14/2002	S		5,000	D	$0.31	63,750	D
Common Stock par value $.001	12/04/2002	12/04/2002	S		2,500	D	$0.35	61,250	D
Common Stock par value $.001	12/20/2002	12/20/2002	S		2,500	D	$0.31	58,750	D
Common Stock par value $.001	01/06/2003	01/06/2003	S		2,500	D	$0.32	56,250	D
Common Stock par value $.001	01/10/2003	01/10/2003	S		2,500	D	$0.31	53,750	D
Common Stock par value $.001	01/16/2003	01/16/2003	S		600	D	$0.34	53,150	D
Common Stock par value $.001	01/23/2003	01/23/2003	S		1,900	D	$0.27	51,250	D
Common Stock par value $.001	01/29/2003	01/29/2003	S		2,500	D	$0.28	48,750	D
Common Stock par value $.001	01/31/2003	01/31/2003	S		2,500	D	$0.31	46,250	D
Common Stock par value $.001	02/14/2003	02/14/2003	S		5,000	D	$0.3	41,250	D
Common Stock par value $.001	02/27/2003	02/27/2003	S		5,000	D	$0.3	36,250	D
Common Stock par value $.001	03/14/2003	03/14/2003	S		2,500	D	$0.3	33,750	D
Common Stock par value $.001	03/20/2003	03/20/2003	S		2,500	D	$0.3	31,250	D
Common Stock par value $.001	03/21/2003	03/21/2003	S		1,000	D	$0.28	30,250	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Warrant (right to buy)⁽¹⁾	$0.23	08/26/2002		H/K		300,000		08/26/2002	07/25/2004	Common Stock par value $.001	300,000	⁽¹⁾	300,000	D
Warrant (right to buy)⁽¹⁾	$0.23	08/26/2002		H/K		400,000		08/26/2002	07/25/2005	Common Stock par value $.001	400,000	⁽¹⁾	400,000	D
Warrant (right to buy)⁽¹⁾	$0.23	08/26/2002		H/K		400,000		07/25/2003	07/25/2006	Common Stock par value $.001	400,000	⁽¹⁾	4,000,000	D
Warrant (right to buy)⁽¹⁾	$0.23	08/26/2002		H/K		400,000		07/25/2004	07/25/2007	Common Stock par value $.001	400,000	⁽¹⁾	400,000	D
Convertible Note Payable, due 12/31/2007⁽²⁾	$0.168⁽²⁾	12/27/2002		A		670,761⁽²⁾		12/27/2002	12/31/2007	Common Stock par value $.001	670,761⁽²⁾	$112,688	670,761⁽²⁾	D

Explanation of Responses:

1. Warrants originally granted on 07/25/01 were repriced from $.40 to $.23 per common share. The warrants were granted as officer compensation.

2. The note payable was issued 12/27/2002 for accrued salary and bears interest at the rate of 12% per annum. The exercise price of the convertible note payable varies. Through 12/01/07 Mr. Briers may convert the note at a price equalling 60% of the lowest closing market price during the six months preceding the exercise. Between 12/01/07 and 12/31/07 Hyperdynamics may convert the note at 50% of the lowest closing market price during the thirty days preceding the conversion. Hyperdynamics may prepay the note in cash at any time. On 12/27/2002, the note principal was $102,911 and the conversion price was $.108, resulting in 952,882 shares beneficially owned. The amount reported is as of 10/03/03 and consists of $102,911 prinicipal and $9,777 interest for a total of $112,688. The conversion price resulting from the aforementioned formula is $.168; if the note had been converted on October 3, 2003, 670,761 shares would have been issued.

Remarks:

	Harry James Briers	10/06/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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