Hyperdynamics Reports Encouraging Initial Results From Oil Seeps Study of Offshore Guinea Concession Area
19 November 2009 - 10:00PM
PR Newswire (US)
SUGAR LAND, Texas, Nov. 19 /PRNewswire-FirstCall/ -- Hyperdynamics
Corporation (NYSE Amex: HDY) today announced that it has received
encouraging preliminary results from an oil seeps study of the
company's 31,000-square-mile oil and gas concession offshore
Guinea. The survey was conducted by TDI-Brooks International of
College Station, Texas. "We conducted this study to survey
projected sites of oil seepage in three areas of our concession,"
said Ray Leonard, Hyperdynamics President and Chief Executive
Officer. "The samples from this survey could help to confirm the
existence of multiple active hydrocarbon systems. "We are
especially encouraged by the fact that the survey was able to
confirm oil slicks identified by satellite imagery, and in some
cases, trace them back to their subsurface origin. Both fluid
samples and drop core samples were successfully obtained from the
survey, and we will be analyzing them to differentiate source rock
ages," Leonard said. Hyperdynamics has contracted GeoMark Research,
Ltd. to perform the analytical work on the samples collected from
both the TDI Brooks offshore sampling and onshore studies conducted
in conjunction with the Republic of Guinea's Ministry of Mines and
Energy. 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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