Enormous New Structures Revealed in Preliminary Interpretation of HyperDynamics' SCS Corp. 2002 Seismic Data.Energy Editors/Business Editors
HOUSTON--(BUSINESS WIRE)--Sept. 30, 2003
HyperDynamics Corp. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). : HYPD) has announced that its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , SCS Corp., completed preliminary evaluations of a new sector of its 16-million-acre concession offshore the Republic of Guinea, West Africa West Africa
A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century.
West African adj. & n. . In 2002, several regional lines of seismic were acquired and recently reprocessed revealing a whole new sector, adding to previously announced potential for commercially viable hydrocarbons offshore Guinea.
It was reported by SCS geo-experts that near the edge of the Guinea continental shelf, within the ancient Guinea Delta identified earlier, three important zones exist at depths between 12,000 and 15,000 feet below the ocean surface. From preliminary analysis, it is believed that there are substantial shale deposits, source rocks for oil and gas and turbidites representing porous sands that typically form reservoirs holding petroleum. SCS' geo-experts believe this is the case in Guinea as is also the case in many areas of the world containing large hydrocarbon reserves. There is also indication that the turbidites were laid down between deltaic shale deposits in strata hundreds of feet thick. It appears that the sands were carried by currents over the edge of the ancient shelf from mountainous coastal wetlands. It is also believed that very large buried channels indicate that major rivers were present. These turbidite tur·bi·dite
A sedimentary deposit formed by a turbidity current.
A sedimentary deposit formed by a turbidity current. zones cover an area beginning 75 miles from the Guinea coast and extend to the current shelf edge approximately 100 miles offshore.
This new information was revealed by analyzing data collected by SCS in 2002 and reprocessed recently, revealing more clearly these massive structures along the ancient shelf. The structures are dipping toward shore over 20-25 mile distances between faults. This "reverse dip" is thought to trap and restrict the flow of petroleum out of the faulted blocks. After reaching a crest at the shelf edge, the strata then rolls over in the opposite direction toward the Atlantic basin.
Neil Moore Neil Moore (born September 21 1972 in Liverpool) is an English professional football defender currently playing for Conference North side Nuneaton Borough.
The club captain joined Nuneaton Borough in July 2003 following his release from Mansfield Town. , president of SCS, stated, "Computer processing technology capable of bringing forth high-resolution stratigraphic stra·tig·ra·phy
The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks.
strat features have identified these turbidite sands present over and around the structures."
Moore continued, "My calculations show that the zones are capable of holding billions of barrels of oil and significant amounts of associated natural gas. This new prospect, which is one of many being investigated in the area, is in addition to SCS' current studies reported earlier this month. We are genuinely excited about what has been revealed thus far and are planning to perform full exploration operations on this new prospect in early 2004."
HyperDynamics is a provider of integrated information technology (company) Integrated Information Technology - (IIT) A Santa Clara based company producing a programmable, single chip H.261 and MPEG system. The chip contains a RISC processor, originally based on the MIPS architecture but now called RISCit, and a "Pixel Processor". services. HyperDynamics' wholly owned subsidiary, SCS Corp., is focused on oil and gas exploration and geophysical data services for the oil and gas industry, including its integrated SCS NuData(SM) services as well as developing new regions of Africa The continent of Africa can be conceptually subdivided into a number of regions or subregions. Directional approach
One common approach categorises Africa directionally, e.g. for energy production.
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