Hyperdynamics Corp (HDYNQ)

[tdbowieknife]

From Xenon over yonder. I believe this is from the US conference call...

I Talked To Angus McCoss


1. Spud date is in April and there are planning on 90 days of drilling.


2. The Fatala is a "rare late cretaceous superfan" located in a unique geological spot. According to Angus there is a lot of oil in a tight space. There is a thick shale seal and just enough sand Angus described as a real "goldilocks trap and seal arrangement". However, Angus still gives conservative 15% chance of success due to new well and lack of data in that spot. But models made from other turbidite fans will help. It will be a "Jubilee diamond" type of reserve if it proves out. A billion barrel prize according to Angus. At this point without any data that would be 260 million barrels of oil which will be revised as data comes in.



3. Tullow will decide on further drilling offshore Guinea after drilling data is in.



Xenon