Hyperdynamics Focuses on Transforming Margin Play
Hyperdynamics says that as a result of the company's 2007 exploration program, numerous leads, approximately 25 so far, have been identified as potential drilling targets. Based on the work of the company's geoscientists beginning last August, many new technical developments have been uncovered by a process of further seismic interpretation. Of significant interest, the company is encouraged to see potential development in the Lower Cretaceous section where most of the West African oil has been found to date, but additionally, there is the potential to explore deeper in the syn-rift Mesozoic basins within the Paleozoic section.
When asked to comment, Mr. James R. Spear, the Company's Vice President and Chief Geophysicist stated, "The most important thing to understand at this point is that our niche area is the transform margin play offshore the Republic of Guinea. Over the last three years, this play has resulted in at least 37 new field discoveries offshore West Africa. "
Based on the breadth of the company's exploration work since 2002 and now with the identifying interpretive procedures performed over the last several months, detailed and focused specifications have now been laid out to acquire additional 2-D seismic. The geoscience team believes a 3-D seismic option is also merited at this time. The exploration program going forward will continue to delineate and expand the Company's portfolio of prospects. Hyperdynamics' geoscientists are recommending a specifically configured 2-D seismic grid of approximately 16,000 linear kilometers of data with parameters established to look clearly at the most prospective locations. Additional 3-D specs will be laid out over the next few months.
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- Tullow Declares Force Majeure On Guinea Project After Partner Probe (Mar 12)