HOUSTON, June 26, 2017 /PRNewswire/ -- Hyperdynamics Corporation (OTCQX: HDYN) ("the Company") today announced that its wholly owned subsidiary, SCS Corporation Ltd. ("SCS"), and South Atlantic Petroleum ("SAPETRO") are proceeding with the preparation to spud the Fatala-1 well.
The key events include:
- The Pacific Scirocco drillship has been re-fueled and is returning to Guinea with an estimated time of arrival (ETA) of June 27.
- The operations team of SCS Corporation attached to Guinea is being deployed and contracting of helicopter and support vessel services has been completed.
- Well tubulars for Fatala-1 have been stored in Port of Conakry to be loaded on board Pacific Scirocco.
- Schlumberger has commenced mobilization of materials, equipment and well drilling-related field staff in its role as Integrated Project Manager for the major well drilling services.
- The remotely operated vehicle (ROV) to be used to spud the well has been loaded onto a vessel in Aberdeen along with the wellhead running tools to start sailing this week to the Pacific Scirocco in Guinea with an estimated arrival date of around July 10-14.
- The Drilling Well On Paper (DWOP) exercise will be held by our subsidiary, SCS, in Conakry July 14-15 with participation of all major contractors, SAPETRO and ONAP, (the Guinea Petroleum Bureau) to review the drilling plan and preparedness of all parties as a final planning step prior to spudding the well.
- Once the ROV has been installed and tested and the drilling equipment and materials have been loaded onto the drillship, the Pacific Scirocco will be moving to the Fatala 1 location with a planned spud by the end of July.
"We are very pleased with the preparation for the drilling of Fatala -1 and with the performance of the contractors. All the elements needed for the spudding of an ultra-deepwater well in a frontier location are coming together nicely," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer.
"Concurrently our geological team in Houston has made further progress evaluating the prospects of the Bamboo area and identified a location for the second well. Both geological and operational progress is going to be reviewed in detail during the upcoming meeting to be held with partners and ONAP in Conakry 12-13 July," explained Mr. Leonard.
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.
SAPETRO is an African focused privately held oil & gas exploration, production and investments company with portfolio of high-quality assets in West and East Africa. To find more about SAPETRO, visit their website at www.sapetro.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
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