HOUSTON, Aug. 30, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) today provided an additional update on the drilling status on the Fatala-1 exploration well offshore the Republic of Guinea.
-- The 17½ inch hole was drilled from 4,270 meters down to 4,565 meters
total depth, or about 1,675 meters below mudline as of late Tuesday.
Measurement While Drilling logs and cuttings samples confirmed the
accuracy of the geologic model used as the basis for the well prognosis.
-- The wellbore was circulated clean of drilled cuttings and the drill
string pulled out of the hole in preparation for running and setting the
13-3/8" casing at 4,550 meters. This will be the final string of casing
set before drilling the potentially hydrocarbon-bearing interval at a
planned depth of approximately 4,900 meters.
-- The additional drilled section of 4,270-4,565 meters encountered an
average of 1.4% (range 0.8-2.0%) background gas compared to 0.45% (range
0.3-0.6%), or approximately 300% of the equivalent section of the nearby
Sabu 1 well further supporting the geophysical interpretation of the gas
cloud over the prospect.
"Drilling is progressing very well and the drillship, drilling management team and support systems continue to function above expectations," said Ray Leonard, President and Chief Executive Officer of Hyperdynamics. "In the final drilling stage, we will drill the 12-1/4 inch hole through the interval that we believe holds the potential for a world-class hydrocarbon discovery."
Hyperdynamics is the operator and a 50-50 partner in this exploration project with SAPETRO, an African focused privately held oil and gas exploration and production company with a portfolio of high-quality assets in West and East Africa.
Hyperdynamics is an emerging independent oil and gas exploration 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 [http://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.
President and Chief Executive Officer
Anne Pearson / Jack Lascar
Web site: http://www.hyperdynamics.com/