Hyperdynamics gets new Guinea reserves report

A resource evaluation offshore Republic of Guinea by Netherland Sewell and Associates for Hyperdynamics Corp. gives a “best estimate” for all assessed prospects and leads of 2.3 Bbbl recoverable unrisked prospective oil resources.

Offshore staff

HOUSTON – A resource evaluation offshore Republic of Guinea by Netherland Sewell and Associates for Hyperdynamics Corp. gives a “best estimate” for all assessed prospects and leads of 2.3 Bbbl recoverable unrisked prospective oil resources.

Hyperdynamics says the NSAI evaluation focused on the area currently being evaluated by the 3,635-sq km (1,403-sq mi) 3D survey under contract with Petroleum Geo-Services of Norway. Further resource potential is anticipated on the remainder of the 25,000-sq km (9,653 sq mi) concession with future work.

"We believe the concession has the potential of being a petroleum province in its own right that will support a multi-well exploration drilling program,” says Ray Leonard, president and CEO of Hyperdynamics. “We are doing the detailed 3D seismic program at present that will help us select the site for the first well, and we look forward to spudding the well by year-end 2011."

09/15/2010

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