PGS Completes West African Survey for Hyperdynamics

Hyperdynamics announced the results of Petroleum Geo-Services' seismic interpretation project. The project included the independent interpretation of Hyperdynamics' 5,000 line kilometers of modern 2D data, a historical study of the regional geology and the evaluation of other technical data.

PGS interpreted that the potential exists for mature source rock in the Lower Cretaceous. Five main leads covering more than 700 square kilometers were identified and mapped within various stratigraphic intervals based on anomalous amplitudes. The size of one of the largest leads is undetermined because the lead continues beyond the existing 2D seismic coverage. The leads are at various depths, and in one location three leads can be tested with a single well.

Seven geological horizons were interpreted by PGS. SCS Vice President Robert Bearnth said, "By identifying the various stratigraphic horizons, we are better able to understand the geology and potential prospectivity based on our experience worldwide."

SCS President Neil Moore stated, "The results of the PGS report provide independent confirmation of the high prospectivity of our concession in West Africa. PGS focused in on five of the numerous leads identified internally. We are thrilled that their work has confirmed and expanded on our internal assessments. I would also point out that this project only covers a fraction of the entire concession."

Tom Ziegler, head of MultiClient New Ventures, EAME (Europe, Africa and Middle East) for PGS Marine Geophysical, stated that, "PGS is very pleased to have been able to work with Hyperdynamics on their offshore West African project. Based on the work performed and the results derived, PGS is strongly encouraged that additional work programs should be conducted to further develop the understanding of this underexplored area."