QualityStocks'  Instablog

Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Hyperdynamics Corp. (HDY) Updates Resource Potential of African Oil and Gas Concession 0 comments
    Mar 14, 2011 2:44 PM | about stocks: HDY

    Hyperdynamic issued an updated assessment of the oil and gas resource potential of its deepwater properties located offshore Africa.

    Hyperdynamics received an offshore oil and gas concession from the Republic of Guinea, and has a 77% interest in a 9,650 square mile area. The company is currently conducting a 3D seismic program on the property. The results will be used to help plan an exploration and development program at the site.

    Hyperdynamics said the assessment indicated that the best estimate of potentially recoverable unrisked prospective oil resources on the concession was 3.7 billion barrels. After applying risk factors, the assessment indicated that there were approximately 400 million barrels of oil on a risked resource basis.

    The updated resource estimate only applies to the deepwater portion of the concession, and is in addition to the resources estimated on the shallow water portion of the property. The shallow water assessment, which was conducted in September 2010, estimated that there were 2.3 billion barrels of potentially recoverable unrisked prospective resources, or 350 million barrels of oil on a risked resource basis.

    The updated resource assessment was conducted by Netherland, Sewell & Associates, Inc., an established and well respected Petroleum Engineering consulting firm used by many public companies.

    For more information on the company, go hypd.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Stocks: HDY
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.