HyperDynamics Corporation Announces Commencement of Remote Seismic Processing Application
HOUSTON--(BUSINESS WIRE)--Nov. 13, 2001--HyperDynamics Corporation (OTC/BB:HYPD), the premier Integrated Technology Service Provider (ITSP(TM)), announced today that it has commenced the first service providing remote seismic attribute processing and visualization of 3D seismic data.
This follows HyperDynamics' earlier development of programs for data conversion to DVD Random Access Media using 3D compression and geo-processing in 2001. The latest technology enables computerized exploration for new petroleum reserves with the latest HyperDynamics Internet Technologies at near and far locations from Houston. Explorationists can visualize their prospects anytime from any location with a broadband Internet connection.
Neil Moore, president of SCS, HyperDynamics' energy subsidiary said, "We have identified more than 50,000 users worldwide who can benefit from remote exploration processing. This first-of-a-kind product offering eliminates the heavy capital expenditures normally required to explore for new energy reserves."
Moore continued, "We are excited because this service allows small companies and individual consultants to have the same processing power as large multinational energy corporations."
Harry Briers, CIO of HyperDynamics Corporation, said, "We are actively lining up clients for our December 2001 launch. We have already agreed with Prime Geoscience to host their Primeview(TM) software, and we jointly project to have over 1,000 subscribers during our first year paying at least $200 per day to access our technology. To accelerate market penetration, HYPD will be offering trial subscriptions. In addition, we expect to announce the availability of other industry leading processing software very shortly."
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