Hyperdynamics gets new evaluation for offshore Guinea drilling prospects

Offshore staff

HOUSTON – Hyperdynamics Corp. has received a new resource evaluation of its concession offshore Republic of Guinea from Netherland, Sewell & Associates Inc.

NSAI examined the oil prospects with a focus on the two spots where Hyperdynamics plans to drill wells. The study also included a look into the stratigraphic prospect between the two locations.

"We find the review and assessment by NSAI encouraging and a confirmation of our drilling program set to begin in the fourth quarter of 2011," said Hyperdynamics' President and CEO Ray Leonard. "These were prospects not identified prior to the 3D seismic acquisition, processing and analysis completed earlier this year."

Hyperdynamics operates the concession with a 77 percent participating interest, with the remaining 23 percent held by Dana Petroleum, a wholly owned subsidiary of the Korean National Oil Co.

08/08/2011



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