Gulf Oil and Gas accountACCOUNT

Hyperdynamics Commences Offshore Guinea Farm-Out Opportunity, Outlines Ongoing Exploration Plan

Source: www.gulfoilandgas.com 1/24/2007, Location: Africa

Hyperdynamics Corporation has formally commenced a farm-out opportunity for its 31,000-square-mile concession offshore West Africa. Numerous exploration companies have already expressed interest and signed confidentiality agreements as a first step in the program. This farm-out opportunity is a key element in Hyperdynamics' strategy to enhance and accelerate its ongoing exploration of offshore Guinea.

"Our contract area is in a region of tremendous interest to international explorationists, and our review of seismic data suggests it has the potential for world-class discoveries," said Kent Watts, Hyperdynamics Chairman and Chief Executive Officer. "With such a vast amount of acreage available to us in the contract area, we'll be able to pursue multiple exploration targets with a number of different partners through this farm-out opportunity."

Concurrent with the farm-out process, Hyperdynamics also is continuing its efforts in its seismic data acquisition program, which began in 2002. As part of its Production Sharing Contract with the Republic of Guinea, the Company plans to acquire and interpret as much as 18,000 kilometers of additional seismic by late 2008.

In addition to the ongoing geophysical program, a study is nearing completion by a subsidiary of GlobalSantaFe Corporation to identify the logistics needed to support future drilling and production operations. This study will help Hyperdynamics and its partners to plan in advance for all the materials, equipment, transportation and labor that would be needed, both onshore and offshore, in order to be ready to mobilize quickly once the drilling phase begins.

Acquisitions and Divestitures News in Guinea >>

United Kingdom >>  5/26/2020 - Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, is pleased to announce the conditional acquisition o...
United States >>  5/26/2020 - Diversified Gas & Oil PLC, the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells as well as midstream assets, confirms ...

Canada >>  5/25/2020 - TC Energy Corporation has completed the sale of a 65 per cent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project)...
Israel >>  5/25/2020 - Delek Group (DGRLY) announces that it signed together with Delek Energy Systems Ltd (“Delek Energy”) (“the Sellers”) an agreement with a third party (...

Indonesia >>  5/22/2020 - Coro Energy plc is pleased to announce that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the ...
United Kingdom >>  5/20/2020 - Jersey Oil and Gas, an independent upstream oil and gas company focused on the UK Continental Shelf region of the North Sea, has completed the transac...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Guinea Oil & Gas 1 >>  2 |

More News

Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.