Hyperdynamics has received an updated exploration risk assessment of its two drilling prospects, raising the probability of success.
The risk assessment comes after reprocessing of 3D seismic data by specialty processor eSeis of the Fatala 1 and Buried Hill 1 deepwater prospects offshore Guinea.
A more advanced technology was used to produce clearer images of the geologic characteristics of the projects.
Based on the improved imaging, reserve audits and assessments provider Netherland, Sewell & Associates Inc (NSAI) upgraded its opinion on the probability of success for the Fatala 1 prospect from 25% to 31%, as well increasing the Buried Hill 1 prospect estimates from 20% to 24%.
NSAI used standard industry methodology to report that both prospects represent low-risk exploration.
Hyperdynamics president and CEO Ray Leonard said: "We are delighted with the results of this latest evaluation of our top Guinea prospects which lay in a largely untested basin offshore West Africa.
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"Derisking drilling prospects as much as possible is a critical part of the exploration process, and the reprocessing work eSeis conducted produced a much more coherent and cleaner 3D seismic view that suggests direct evidence of hydrocarbons, good quality sandstones and effective trapping seals."
NSAI's estimate in April of the prospective resource potential of all drilling prospects and leads in Hyperdynamics' 5,000km² concession area indicates the presence of 4.8 billion barrels of recoverable hydrocarbon resources.
This includes more than two billion barrels of recoverable resources in prospects with at least a 20% chance of success.
Hyperdynamics explores oil and gas offshore the Republic of Guinea in West Africa.