Hyperdynamics and GlobalSantaFe International Drilling Initiate Comprehensive Reconnaissance.Trip to the Republic of Guinea to Address Critical Drilling Issues HOUSTON -- Hyperdynamics (AMEX AMEX See: American Stock Exchange :HDY HDY Hat Yai, Thailand (Airport Code) HDY Handy (German slang for mobile phone) HDY Heavy Duty ), the oil and gas exploration and production company, today announced that its reconnaissance trip to the Republic of Guinea is underway in conjunction with GlobalSantaFe International Drilling, Inc. (NYSE NYSE See: New York Stock Exchange :GSF GSF Gross Square Feet (architectural design and construction) GSF Genoa Social Forum (umbrella anti-G8 group) GSF GameSpy Forums GSF Government Superannuation Fund (New Zealand) ). The joint team from the two companies is meeting with business leaders and government officials in Guinea to solidify plans for Hyperdynamics' drilling program, including an evaluation of the drilling infrastructure, port facilities, support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services and the offshore operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . "This trip represents a key milestone for our drilling plans," said Hyperdynamics' Executive Vice President Harry Briers. "GlobalSantaFe is an internationally recognized leader in this arena, and the results of the inquiry will pave the way for our exploration under the new agreement with the Republic of Guinea." The reconnaissance trip addresses the following issues critical to the drilling program: Preparation (project cost estimate and internal partner AFE (Apple File Exchange) An earlier Macintosh utility that converted data files between Mac and PC formats. It also included a file translator between IBM's DCA format and MacWrite. approval securing yard space and a shore base; and procuring inspecting and shipping tangibles); Identifying a rig (preparing rig specifications for tenders and evaluation of tenders, signing a rig contract); Finalizing project management structure (signing contract); and Beginning drilling operations (mobilization; spudding the well and drilling; primary log; evaluation; plugging/casing/testing options; demobilizing all equipment). Hyperdynamics recently signed a new agreement with the Republic of Guinea to explore a 33,000 square mile offshore area, one of the world's largest under-explored regions considered to have world-class potential for oil and gas discoveries based on the company's seismic analysis. About Hyperdynamics Hyperdynamics Corp. provides energy for the future by exploring and developing new and re-developing residual sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corp., owns rights to explore and exploit significant acreage offshore the Republic of Guinea, West Africa. HYD Resources Corp. focuses on domestic production in proven areas. To find out more about Hyperdynamics Corp., visit our website at www.hypd.com About GlobalSantaFe International Drilling GlobalSantaFe International Drilling, Inc. is the world's largest provider of turnkey drilling and related engineering and management services. GlobalSantaFe International Drilling is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GlobalSantaFe Corporation, a leading offshore oil and gas drilling contractor that operates a mobile fleet of marine drilling rigs in major drilling regions around the world. GlobalSantaFe can be found at www.globalsantafe.com 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 in the company's filings with the SEC. |
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