HOUSTON, Jan. 6, 2017 /PRNewswire/ -- Hyperdynamics
Corporation (OTCQX: HDYN) today announced that it has accepted a
proposal from its drilling contractor, Pacific Drilling, to deploy
the Pacific Scirocco drillship in place of the Pacific
Bora for Hyperdynamics' upcoming deepwater exploration well
offshore the Republic of Guinea.
Financial terms under the earlier contract with Pacific Drilling
for the Pacific Bora are unchanged. Hyperdynamics plans to
spud the Fatala-1 well in April
2017.
"We are very pleased to be able to engage the Pacific
Scirocco for our drilling campaign," said Hyperdynamics
President and Chief Executive Officer Ray
Leonard.
"The Pacific Scirocco is equipped to drill in deeper
water -- up to 12,000 feet -- and could handle either of the two
optional follow-up fan wells that may be drilled if the Fatala-1
well is successful.
"We understand that the Scirocco has been working
offshore Nigeria for TOTAL for the
last five years and has achieved a 98% up-time record, with no
lost-time incidents. Having a rig and a crew that has performed so
consistently at such a high level of safety and efficiency should
greatly enhance our program," Leonard said.
"The Scirocco completes its current contract with TOTAL
on January 19 and afterwards will be
anchored offshore Abidjan,
Ivory Coast. This will enable
Schlumberger, our integrated project manager for drilling services,
to utilize its base there to outfit the drillship in plenty of time
for an April 2017 spud date," he added.
About Hyperdynamics
Hyperdynamics is an emerging independent oil and gas exploration
company that is exploring for oil and gas offshore the Republic of
Guinea in West Africa. To find out more, visit our
website at www.hyperdynamics.com.
Forward-Looking Statements
This News Release contains "forward-looking statements" within
the meaning of Section 27 A of the Securities Act of 1933, as
amended, and Section 21 E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, expectations,
future events or performance and underlying assumptions and other
statements which are other than statements of historical
facts. Forward-looking statements generally can be identified
by the use of forward-looking terminology such as "may," "will,"
"expect," "plan," "project," "anticipate," "estimate," "believe,"
or "think." A number of risks and uncertainties could cause actual
results to differ materially from these statements, including
without limitation, funding and exploration efforts, fluctuations
in oil and gas prices and other risk factors described from time to
time in the Company's reports filed with the Securities and
Exchange Commission, including the Company's Reports on Form 10-K
for the fiscal year ended June 30,
2016 and Form 10-Q for the fiscal quarter ended September 30, 2016. 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.
Contacts:
Ray Leonard
President and Chief Executive Officer
713-353-9445
Anne Pearson / Jack Lascar
Dennard-Lascar Associates
713-529-6600
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visit:http://www.prnewswire.com/news-releases/hyperdynamics-to-engage-a-more-advanced-drillship-from-pacific-drilling-for-its-upcoming-guinea-exploration-drilling-campaign-300386713.html
SOURCE Hyperdynamics