HyperDynamics' SCS Corp. Signs Another Geophysical Data Services Contract; Geophysical Data Service Fees Expected to Exceed $500K
HOUSTON--(BUSINESS WIRE)--Dec. 10, 2001--HyperDynamics Corporation (OTCBB:HYPD), the premier Integrated Technology Service Provider (ITSP(TM)), enabling tomorrow ... today, announced that its wholly owned subsidiary, SCS Corp., has signed a contract relating to geophysical data services with Global Geophysical Experts, Inc. of Houston.
The contract covers SCS's exclusive right to organize, sell and distribute 2-D seismic data never before marketed and now made available for analyzing drilling prospects primarily in west Texas. This data is Maxus Energy Dallas' databank. SCS will organize and catalogue the data, digitize hard copy traces, convert 9-Track tapes over to DVD-RAM, and copy tapes and distribute the data sold as necessary all as incremental services provided under the contract. SCS estimates a minimum of $500,000 in fees based on approximately 2,500 miles of data available at $1,200 per mile plus significant other services for basic data management. Under the agreement, the data can be sold more than once.
Neil Moore, President for SCS, stated, "Contracts like this create both the strategic alliances necessary to enhance our sales potential for seismic data conversion as well as give us upside potential for realizing revenues we otherwise would not see. For example, we hope to announce an add-on to this contract for some seismic trace conversions we have recently proposed as well."
About HyperDynamics
HyperDynamics is a provider of integrated information technology services and products such as its Hypersource(SM) IT outsourcing services, custom and vertically oriented Application Service Providing (ASP), Enhanced Colocation Services and Hyperserve(TM) integrated servers.
Some of the company's partnerships and certifications include Intel, Microsoft, Citrix, Cisco Systems, Great Plains and AT&T. HyperDynamics' headquarters is in Houston. Investors interested in additional information, or in receiving periodic updates, can register at hypd.com. |
