Hyperdynamics Announces Updated Prospective

New Post Public Reply Private Reply Replies (0) Message Board
junewong

Hyperdynamics Announces Updated Prospective Oil Resource Evaluation

Date : 02/14/2013 @ 8:30AM
Source : PR Newswire (US)
Stock : Hyperdynamics Corp. (HDY)
Quote : 0.5899  0.0 (0.00%) @ 8:00AM

Hyperdynamics Announces Updated Prospective Oil Resource Evaluation

Hyperdynamics Corp. (NYSE:HDY)
Intraday Stock Chart

Today : Thursday 14 February 2013

Click Here for more Hyperdynamics Corp. Charts.

HOUSTON , Feb. 14, 2013 /PRNewswire/ -- Hyperdynamics Corporation (NYSE: HDY) today announced the completion of an updated oil resource evaluation study of the oil and gas concession offshore Republic of Guinea conducted by Netherland, Sewell & Associates, Inc. ("NSAI"), a leading provider of reserve audits and exploration resource assessments. A summary of the gross prospective resource potential of each of 21 prospects and leads is found in the report. The complete NSAI report is available on the Company's website at www.hyperdynamics.com .

"We find the update and assessment by NSAI encouraging and continue to see multiple prospects and play types in the concession," said Hyperdynamics' President and CEO Ray Leonard . "We look forward to working with Tullow Oil as they apply their successful exploration experience on the Atlantic Margin to the evaluation of the prospects on the block."

NSAI conducted an assessment of the prospective oil resources of selected prospects on the concession following analysis of the Sabu-1 well in 2012 as well as the preliminary review of the 4,000-square-kilometer 3-D seismic survey covering deep water areas in the southwestern portion of its concession. This report supersedes earlier studies completed prior to the acquisition of this new well and seismic data.

"Prospective Oil Resources" referred to in NSAI's report are quantities of petroleum that are estimated to be potentially recoverable from undiscovered accumulations through future development projects. The prospective oil resources included in this latest NSAI report indicate exploration opportunities and development potential in the event that a discovery is made and should not be construed as reserves or contingent resources. The NSAI prospective oil resource estimates are provided because management believes they are useful information to investors in the valuation and analysis of the Company.

Hyperdynamics, through its wholly owned subsidiary, SCS Corporation Ltd., owns a 37 percent participating interest in the concession, with 40 percent held by Tullow Guinea Ltd., and the remaining 23 percent held by Dana Petroleum, a wholly owned subsidiary of the Korean National Oil Company. Following a transition period, Tullow Guinea Ltd. will become the Operator of the concession in April 2013 .

Cautionary Note to Investors Concerning Prospective Resources
This news release uses the term "prospective resources." Hyperdynamics advises investors that the U. S. Securities and Exchange Commission ("SEC") does not recognize this term, and the SEC permits oil and gas companies, in their filings, to disclose only "reserves." In addition, prospective resources have a great amount of uncertainty as to their existence and economic and legal feasibility. Investors are cautioned not to assume that estimates of prospective resources are economically drillable, or will ever be upgraded into reserves.

About Hyperdynamics
Hyperdynamics is an emerging independent oil and gas exploration and production 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 and the Company's website referenced in this news release contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding Hyperdynamics Corporation's future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", "may increase", "may result", "will result", "may fluctuate" and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. 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 SEC, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2012 . 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:

Dennard-Lascar Associates, LLC


Ken Dennard, Managing Partner


Jack Lascar, Managing Partner


(713) 529-6600


Anne Pearson, Sr. Vice President


(210) 408-6321

SOURCE Hyperdynamics

Copyright 2013 PR Newswire

Scroll down for more posts ▼

Top 10 Most Recent News Articles

JiMMYBAR! Expands Creatine Market with Target Launch

Updated Category News Views 15

JiMMYBAR! Breaks New Ground in Supplements You ever notice how some companies just know how to shake things up? Take JiMMYBAR!, for instance. The moment I read they’re making moves to get their Creatine + Protein bars into Target stores nationwide, starting October 4, I thought, “That’s one way to drag creatine out from the dusty tub and onto the shelves of...

Continue Reading
Bob Evans' Protein Mac & Cheese: Practical Power Play

Updated Category News Views 19

Has anyone else noticed just how fast the world spins when it comes to consumer trends these days? Bob Evans is hopping right on the protein bandwagon with its latest launch, a microwave-ready Protein Macaroni & Cheese that packs 18 grams of protein per serving. You gotta hand it to them for seizing opportunity when they see it. This one's not just about tossing a new...

Continue Reading
TA Services Strengthens U.S.-Mexico Freight Operations

Updated Category News Views 12

TA Services Moves Boldly Across Borders If ever there was a time to play the logistics chessboard like a champ, it's now, and TA Services just slammed the board with a solid move. They've grabbed Carmen Pacheco Transportation and Interload Forwarding, two family-run operations with some real muscle in North American logistics. This isn't a small-time maneuver; they've...

Continue Reading
Dentistry.One Achieves HITRUST i1, Boosts Cybertrust

Updated Category News Views 7

HITRUST i1 Certification: The Gold Standard in Security For a world increasingly reliant on digital infrastructure, cybersecurity certification is no longer just a badge of honor; it's a cornerstone of trust. Dentistry.One nailed this down by bagging that coveted HITRUST i1 certification. When folks talk about securing data, HITRUST might as well be speaking gospel. We're...

Continue Reading
ROKFORM’s Signal Card: A Wallet Tracker for All

Updated Category News Views 10

The Gadget You Didn't Know You Needed Ever feel that momentary panic when your wallet seems to have vanished into thin air? ROKFORM's fresh offering, the Signal Card, tackles that heart-stopping moment head-on. They've taken the mundane act of misplacing your wallet and transformed it with their sleek, credit-card-sized tracker. This baby pairs seamlessly with Apple Find...

Continue Reading
Charter Next Generation Unveils Gen 2 MDO-PE Films

Updated Category News Views 9

Peering Into CNG's Latest Innovation Charter Next Generation (CNG) just threw down a hefty gauntlet with its launch of next-gen machine-direction-oriented polyethylene (MDO-PE) solutions. They're pushing the envelope on what recycle-ready packaging can do, folks. Let's not mince words—other players in the field better have their game faces on. This ain't just another...

Continue Reading
Cure Blindness Project's 770K Screenings for World Sight Day

Updated Category News Views 13

Visionary Steps Toward a Brighter Future No two words could describe the task that Cure Blindness Project is tackling this year: vision and action. Marking World Sight Day on October 8, they plan to usher in 770,000 eye screenings across Asia, Africa, and the Caribbean. These initiatives aren't just numbers—they're a colossal step toward lifting the veil of avoidable...

Continue Reading
Epic Political Thriller Explores Humanity's Future

Updated Category News Views 7

Adams' Provocative Debut Asks Timeless Questions Sometimes life throws a philosophical curveball, and that's exactly what John C. Adams has done with his debut novel, The Third Phase. This isn't your average political yarn—it's an intricate tapestry intertwining political intrigue, deep spiritual inquiry, and hearty doses of classic philosophy. A Whirlwind Journey...

Continue Reading
Community Banks Missing $106B Lending Opportunity?

Updated Category News Views 17

A Missed Opportunity for Community Banks It's a classic tale: community banks sleepwalking while big players snatch up low-hanging fruit right in their own backyards. According to the latest report by Cornerstone Advisors, commissioned by Teslar Software, these banks are essentially leaving $106 billion on the table when it comes to consumer lending. That's not just chump...

Continue Reading
Cala Launches Game-Changer Wearable for Tremor Relief

Updated Category News Views 10

Breaking New Ground in Neuromodulation Medical tech's on a roll, and Cala Health just hopped on the fast track with their latest launch—the Cala kIQ Plus System. This bad boy is aiming to offer relief for those grappling with hand tremors, thanks to its FDA clearance and a host of new features. It's the first of its kind, combining multiple therapy modes with an...

Continue Reading

Top 5 Most Recently Viewed Articles

MVP Lithium Achieves Major Milestone with Battery-Grade Lithium

Updated Category News Views 110

MVP Lithium Achieves Milestone in Battery-Grade Lithium Production MVP Lithium has successfully produced 99.9% pure battery-grade lithium hydroxide from brine at its DLE pilot plant. This significant achievement highlights the company's innovative approach and commitment to environmentally friendly lithium extraction techniques. The Growing Demand for Lithium in Electric...

Continue Reading
Optical Sorter Market Expected to Reach USD 5.33 Billion

Updated Category News Views 178

Overview of the Optical Sorter Market The Optical Sorter Market is experiencing significant growth, with projections indicating an increase from USD 2.61 billion in 2023 to approximately USD 5.33 billion by 2032. This represents a compound annual growth rate (CAGR) of 8.33% during the forecast period from 2024 to 2032. Factors Driving Market Growth Several key factors are...

Continue Reading
Revolutionizing AI Development: Runloop's Repository Connect Launch

Updated Category News Views 411

Runloop Introduces Repository Connect for AI Development New API automatically detects dependencies and provisions development environments from GitHub repositories in seconds. Runloop, an enterprise-grade infrastructure platform enabling the development and deployment of AI coding agents, has launched a groundbreaking feature called Repository Connect. This innovative...

Continue Reading
Enhancing Urban Transit Safety with Foresight's 3D Technology

Updated Category News Views 106

Improving Safety in Urban Transit Systems The collaboration between Foresight Autonomous Holdings Ltd. and a leading global Tier-One automotive supplier aims to enhance safety in urban public transportation. This partnership focuses on developing a proof of concept (POC) project aimed at implementing an advanced curb detection system to bolster the safety of city bus...

Continue Reading
GoldMining's 2026 Mid-Year Moves Show Strategic Depth

Updated Category News Views 6

GoldMining's Strategic Dance in 2026 GoldMining Inc. has been playing the market like a well-tuned fiddle in 2026, orchestrating a financial symphony that any investor with a pulse should be tapping their foot to. With no debt hanging like a noose, substantial cash reserves, and publicly traded securities holding strong at about US$185 million, they're strutting into the...

Continue Reading