HYPERDYNAMICS KICKS OFF DRILLING CAMPAIGN OFFSHORE GUINEA WITH PACIFIC SCIROCCO

May 25, 2017

Hyperdynamics Corporation announced that on May 21, 2017 the Pacific Scirocco drillship entered Guinea shelf waters and is commencing drilling operations as provided by the Third Amendment to the Production Sharing Contract (PSC), signed by the Republic of Guinea Government on April 12, 2017 and approved by President Alpha Conde on April 21, 2017.
Last week, SCS Corporation, the wholly owned subsidiary of Hyperdynamics Corporation, and Pacific Drilling made effective an amendment to the drilling contract with a subsidiary of Pacific Drilling for the use of the Pacific Scirocco for mobilization for petroleum operations. The Amendment stipulates the rates and timing related to installing on the rig some drilling-related equipment, stocking up materials and supplies for the subsequent spudding of the Fatala 1 well.
“We are very pleased that the rig has arrived in Guinea and has commenced drilling operations as provided by the Third Amendment to the PSC and look forward to drilling the Fatala prospect as soon as the rig gets on board additional equipment and supplies. We highly value our business relationship with both SAPETRO and Pacific Drilling,” said Hyperdynamics President and Chief Executive Officer Ray Leonard.
Hyperdynamics is an emerging independent oil and gas exploration company that is exploring for oil and gas offshore the Republic of Guinea in West Africa.