SCS Awards PGS Seismic Contract Hyperdynamics 8

SCS Awards PGS Seismic Contract
Hyperdynamics 8/6/2004
SCS Corporation, the energy subsidiary of Hyperdynamics Corporation, has awarded a contract for 3rd party interpretation services to Petroleum Geo-Services. In Phase I of the agreement, PGS's team of geophysicists, geologists, and petrophysicists will work with SCS's geo-experts in Houston to undertake a technical audit that reviews all paper based data, develop an overview of the petroleum geology and the history of oil and gas development offshore northwest Africa. Phase II of the work will involve the detailed seismic interpretation of 5,000 2D line kilometers of data acquired by SCS since 2002. In addition, this Phase will include initial seismo-stratigraphic analysis and the creation of geo-seismic depth profiles that incorporate velocity and gravity information. Ultimately the geophysical analysis will include some basin modeling; more detailed AVO and other attribute analysis; seep analysis and shallow core analysis.

Neil Moore, President of SCS, stated, "PGS is one of the largest geophysical service companies in the world. More importantly, they have a proven track record in West African countries such as Nigeria, Sao Tome and Principe, Togo and South Africa. Their technical expertise will add value and significantly accelerate the development of our acreage. PGS's involvement will help us complete the technical analysis required to identify drilling locations."

Tom Ziegler, Head of MultiClient New Ventures, EAME for PGS, stated, "We are very pleased to be awarded this work with SCS on their offshore Guinea acreage and are confident that the technical results of this project will substantially advance SCS's understanding of the hydrocarbon prospectivity of this area. Furthermore, I believe that this project will represent the first step in a long term working relationship."