Hyperdynamics' Subsidiary SCS Provides Scientific Evidence for Oil and Gas in Its Concession Offshore West Africa
Thursday October 14, 4:00 pm ET
Statistical evidence supports a deep oil-dominated petroleum system
HOUSTON--(BUSINESS WIRE)--Oct. 14, 2004-- Hyperdynamics Corp. (OTCBB:HYPD - News) today announced that it has received the results of its most recent coring and geochemical analysis program. The results of the analyses revealed that 55 of the 57 core samples contained thermogenic petroleum components in varying degrees of concentration.
As originally reported in April, the company began planning for a geochemical analysis. As a result, TDI Brooks International Inc. was contracted in July to perform a heavy piston coring program and then analyze the core samples, reporting the results back to SCS' geo-experts. On Sept. 7, 2004, it was announced that 57 core samples had been acquired and were delivered to TDI Brooks laboratory in College Station, Texas. Since that time, extensive geochemical analyses have been performed on the core samples including Total Scanning Fluorescence (TSF), Hydrocarbon Gas Chromatographic and Interstitial Gas. Such analyses and other procedures were performed on the core samples to evaluate each core for the presence of migrated mature hydrocarbons.
When asked to comment on the results, Neil Moore, president of SCS, stated, "We were very excited to see spectral analyses indicating petrogenic gases as well as a broad range of florescent spectra representing hydrocarbon liquids. This means that we now have scientific evidence proving the existence of an oil and gas system in the concession." He went on to say, "Most exciting to me is the fact that the program revealed high-quality Chromatograph and Florescence results. These results showed the existence of oil and gas around major fault lines that reach the surface at key structural points. We are extremely satisfied with these test results."
Robert Bearnth, executive vice president of exploration for SCS, explained, "Numerous shows indicated statistical evidence of a deep petroleum system dominated by oil. Furthermore, the presence of rich natural gas components could be a source of fuel for generating electricity that is greatly needed in the region."
Kent Watts, chairman and CEO of Hyperdynamics, stated, "Our coring program is a huge success. As we continue to build corroborating evidence for commercial hydrocarbons, the value of our concession continues to rise. This additional scientific evidence gives us the impetus to move expeditiously towards a 3D seismic shoot and drilling program."
For more information about the coring and analysis process, please visit the company's online presentation at:
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