Hyperdynamics Corporation Updates Progress of 2-D Seismic Survey
13 November 2009 - 10:00PM
PR Newswire (US)
SUGAR LAND, Texas, Nov. 13 /PRNewswire-FirstCall/ -- Hyperdynamics
Corporation (NYSE Amex: HDY) today provided an update on the
progress of its recently announced 9,000-kilometer 2-D seismic
survey that is under way offshore Republic of Guinea. To date,
1,200 kilometers of seismic has been acquired. The data is being
partially processed onboard Bergen Oilfield Services' seismic
vessel BOS Arctic, and processing will be completed at Bergen's
center in Oslo, Norway. The technical staff of Hyperdynamics is
reviewing all stacked sections each day as they are transmitted
from Bergen. The survey, which began October 29, 2009, is expected
to be finished on schedule in mid-January, 2010. "The quality of
the data we are getting from our survey is excellent," said Ray
Leonard, Hyperdynamics' President and Chief Executive Officer. "It
is proving very helpful to us as we prepare to select the 36%
acreage portion - approximately 28,800 square kilometers - that we
plan to retain." Hyperdynamics agreed in a Memorandum of
Understanding with the government of Guinea signed in September
that Hyperdynamics would retain a 36% acreage position selected by
Hyperdynamics and relinquish the remainder. Hyperdynamics
Corporation is an emerging independent oil and gas exploration and
production company that is exploring for oil and gas offshore the
Republic of Guinea in West Africa. To find out more, visit our
website at http://www.hyperdynamics.com/. Forward Looking
Statements This news release and the Company's website referenced
in this news release contain forward looking statements as defined
by the U.S. Securities and Exchange Commission regarding
Hyperdynamics Corporation's future plans and expected performance
that are based on assumptions the Company believes to be
reasonable. A number of risks and uncertainties could cause actual
results to differ materially from these statements, including
without limitation, funding and exploration efforts, risks
associated with operating in a developing country in Africa,
political developments in Guinea, fluctuations in oil and gas
prices and other risk factors described from time to time in the
Company's reports filed with the SEC. The Company undertakes no
obligation to publicly update these forward-looking statements to
reflect events or circumstances that occur after the issuance of
this news release or to reflect any change in the Company's
expectations with respect to these forward-looking statements.
HDY-IR Contacts: Dennard Rupp Gray & Easterly, LLC Ken Dennard,
Managing Partner Jack Lascar, Partner (713) 529-6600 Anne Pearson,
Sr. Vice President (210) 408-6321 DATASOURCE: Hyperdynamics
Corporation CONTACT: Ken Dennard, Managing Partner, or Jack Lascar,
Partner, +1-713-529-6600, or Anne Pearson, Sr. Vice President,
+1-210-408-6321, all of Dennard Rupp Gray & Easterly, LLC, for
Hyperdynamics Corporation Web Site: http://www.hyperdynamics.com/
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