Hyperdynamics Corp. Receives Study Results from Petroleum Geo-Services -PGS-; Five Sizeable Leads Identified That Cover over 700 Square Kilometers.HOUSTON -- Hyperdynamics Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :HYPD) has announced the results of Petroleum Geo-Services' (PGS PGS Pages PGS Petroleum Geo-Services PGS Planning Gain Supplement (UK land tax) PGS Parallel Giant Slalom (skiing and snowboarding competitions) PGS Plant Genetic Systems (Belgium) ) 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 over 700 square kilometers were identified and mapped within various stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat 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 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. stated, "The results of the PGS report provide independent confirmation of the high prospectivity of our concession in 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. . 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 n. 1. Uncle. (Europe, Africa and Middle East) for PGS Marine Geophysical, stated, "PGS is very pleased to have been able to work with Hyperdynamics on their offshore West African 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. 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." About PGS PGS is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic and reservoir services, including acquisition, processing, interpretation and field evaluation. PGS also owns and operates four floating production, storage and offloading units (FPSOs). PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services Petroleum Geo-Services ASA (OSE: PGS, NYSE: PGS), an oilfield service company, provides geophysical services worldwide, and floating production services in the North Sea. , visit www.pgs.com. About Hyperdynamics Hyperdynamics invests in companies with substantial potential for growth. Hyperdynamics' internationally active oil and gas subsidiary, SCS Corp., owns rights to explore and exploit acreage offshore West Africa. SCS also develops and provides state-of-the-art seismic data management services. HYD Resources Corp. focuses on domestic oil field services and low-risk shallow production. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, detailed from time to time in the company filings with the SEC. |
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