Hyperdynamics completes 2D seismic offshore Republic of Guinea

Hyperdynamics Corporation (HDY) today announced the completion of its 2009-10 2D seismic data acquisition program over its exploration area offshore Republic of Guinea in Northwest Africa. 

The survey, conducted on the companies' behalf by Bergen Oilfield Services of Norway, entailed acquisition of just over 10,000 kilometers of 2D seismic to delineate areas of interest. Dana Petroleum and Repsol are expected to contribute their pro rata shares of the approximate $11 million total cost of the program. 

"We utilized the initial data from this broad area study to help us select the most prospective offshore blocks that we want to retain for further exploration," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer. "With the 2D seismic data in hand, our next step will be to identify those areas over which we will want to conduct a 3D survey expected to get under way in the third quarter of this year."

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