Hyperdynamics Corporation has signed a contract with Bergen Oilfield Services AS of Norway to conduct a 9,000 kilometer 2-D marine seismic survey on portions of its oil and gas concession offshore Republic of Guinea. The survey is expected to get under way by the end of October.

"This survey will help us make a final determination of which portions of our 31,000-square mile concession area we want to maintain for future exploration," said Ray Leonard, Hyperdynamics' President and Chief Executive Officer. "Under a new September Memorandum of Understanding that reaffirms the validity of our Production Sharing Contract, we are required to relinquish 64% of the acreage by December 31, 2009. This new data will enable us to choose the best acreage to retain from this vast area, and it will also help us high-grade our better prospects so we can choose the areas where we want to shoot a more limited 3-D survey next year."

"The raw field records or the Brute Stacks from the 'new' 2009 2-D seismic survey will be delivered by BOS in almost real time as it is acquired," according to James Spear, Hyperdynamics' Vice President of Exploration and Development. "The processing of this data will be done onboard one of BOS's modern seismic vessels, as each line segment or sequence is acquired offshore Guinea. The BOS vessel is equipped with modern-day, state-of-the-art, Sercel recording instrumentation along with Sentinel Solid streamers. The contractor's vessel is prepared to continue on 3-D acquisition on short notice."

Tags: Hyperdynamics Corporation