New survey off Guinea nears completion

HyperDynamics Corp. subsidiary SCS Corp. has completed 60% of the planned 4000-km 2D seismic survey on the company's concession offshore the Republic of Guinea, West Africa. The program began in late September and is progressing ahead of schedule, the company said.

HyperDynamics Corp. subsidiary SCS Corp. has completed 60% of the planned 4000-km 2D seismic survey on the company's concession offshore the Republic of Guinea, West Africa. The program began in late September and is progressing ahead of schedule, the company said.

Partial data from the program has been flown from Guinea to Houston to undergo immediate analysis.

The ongoing acquisition program targets a specific quadrant of the concession and was designed using the results of the seismic analysis work performed by SCS on data acquired in 2002. According to SCS, the 2002 survey identified many direct hydrocarbon indicators on a major delta that contains sediments up to 36,000 ft thick and forms a fan across a 150-mi coastal area. The features within the delta suggest that multiple pay zones exist and are analogous to formations that produce oil and gas in deltas worldwide, the company said.

SCS expects that the 2003 work program results will provide the necessary information to identify the most prospective sites. The next step would be to pinpoint a focused 3D seismic acquisition program.

"Once we get to the 3D analysis stage, our processing and intense modeling should lead quickly to our drilling program," said Neil Moore, president of SCS.

11/07/03

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