HOUSTON, Sept. 8, 2017 /PRNewswire/ -- Hyperdynamics
Corporation (OTCQX: HDYN) ("Hyperdynamics" or the "Company"), announced that the Fatala-1 exploration well drilled offshore the
Republic of Guinea in Northwest Africa has reached its total
drilling depth and did not encounter hydrocarbons.
Fatala-1 was drilled in 2,897 meters of water and reached a total depth of 5,117 meters below sea level. The well encountered
a 75-meter-thick Cenomanian sedimentary channel sequence, but it contained predominantly siltstone and clays with no hydrocarbon
shows. The well will be plugged and abandoned.
"We are very disappointed at the results of Fatala-1, considering the extremely promising geophysical data on the prospect,"
said Ray Leonard, Hyperdynamics' President and Chief Executive Officer.
"Hyperdynamics and our 50% partner in the well, SAPETRO, currently hold rights to the Guinea
concession through September 21, 2017. In the very near future, we will be studying the
results of the well and evaluating any future options we may have for further activity in Guinea.
"Fatala-1 was the deepest-water well ever drilled offshore Africa, and I'm pleased to say
that it was drilled safely and within expected budget," Leonard added.
About Hyperdynamics
Hyperdynamics is an emerging independent oil and gas exploration company that is exploring for oil and gas offshore the
Republic of Guinea in Northwest Africa. To find out more, visit
our website at 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.
Contacts:
Ray Leonard
President and Chief Executive Officer
713-353-9445
Anne Pearson / Jack Lascar
Dennard-Lascar Associates
713-529-6600
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SOURCE Hyperdynamics