HOUSTON, Sept. 8, 2017 /PRNewswire/ -- Hyperdynamics
Corporation (OTCQX: HDYN) ("Hyperdynamics" or the "Company"),
announced that the Fatala-1 exploration well drilled offshore the
Republic of Guinea in Northwest Africa has reached its total
drilling depth and did not encounter hydrocarbons.
Fatala-1 was drilled in 2,897 meters of water and reached a
total depth of 5,117 meters below sea level. The well encountered a
75-meter-thick Cenomanian sedimentary channel sequence, but it
contained predominantly siltstone and clays with no hydrocarbon
shows. The well will be plugged and abandoned.
"We are very disappointed at the results of Fatala-1,
considering the extremely promising geophysical data on the
prospect," said Ray Leonard,
Hyperdynamics' President and Chief Executive Officer.
"Hyperdynamics and our 50% partner in the well, SAPETRO,
currently hold rights to the Guinea concession through September 21, 2017. In the very near
future, we will be studying the results of the well and evaluating
any future options we may have for further activity in Guinea.
"Fatala-1 was the deepest-water well ever drilled offshore
Africa, and I'm pleased to say
that it was drilled safely and within expected budget," Leonard
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 Northwest 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." Forward-looking statements involve risks and uncertainties
which could cause actual results or outcomes to differ materially
from those expressed in the forward-looking statements. We assume
no duty to update or revise our forward-looking statements based on
changes in plans or expectations or otherwise.
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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SOURCE Hyperdynamics
