Deepwater reserves study released for Guinea by Hyperdynamics

Offshore staff

HOUSTON – Hyperdynamics has released a deepwater Guinea concession evaluation by Netherland, Sewell & Associates Inc. covering selected leads from a 2D survey in 2009.

NSAI says its “Best Estimates” for the leads assessed totals 2.3 Bbbl of potentially recoverable unrisked oil. The total becomes 400 MMbbl when screened by the risk factors.

Work is under way on interpreting data from a 3,635-sq km (1,403-sq mi) 3D survey of shallow water done late in 2010.

"We find the additional review and assessment by NSAI encouraging and a confirmation of our analysis of the potential prospectivity of the concession," said Hyperdynamics' President and CEO Ray Leonard. "The significant prospective resources in the deep water will need to be taken into account in our evolving exploration program. We still plan to spud our first exploration well in the fourth quarter of 2011."

Hyperdynamics operates the concession with a 77% participating interest. The remaining 23% is held by Dana Petroleum Plc.


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