Replies to post #5230 on JDZ Nigeria-Sao Tome e Principe

[midtieroil]

Actually we will have no clue how much oil is there from the drilling of a single well in a prospect nor will we be able to book any proved reserves. It takes at least two wells in a single prospect to produce proven reserves. We will be able to say with certainty that commercial quantities exist and be able to extrapolate a pretty wide range of what reserves the prospect might hold from a single well, but that's about it. These people who are telling you differently are wrong. Some of the people on the other board even believe that the rig hands have complete access to all the data from the logs and will know how much oil is there immediately.

It's pretty sad that people with so little knowledge hold themselves out as experts and then try to convince others.

[Platina]

Old info, but gives you an idea - will revert with more on what has been found in Angola waters etc.........

HyperDynamics: Republic of Guinea Oil & Gas Tied to Major Delta Formations; Advanced Seismic Work Program Identifies World Class Features
BusinessWire, Thursday, August 21, 2003 at 09:30

HOUSTON--(BUSINESS WIRE)--Aug. 21, 2003--HyperDynamics Corp.,
(OTCBB:HYPD), today announced that its wholly owned subsidiary, SCS
Corporation, has isolated four tiers of fault blocks 150 kilometers
offshore from the coast of Guinea. The blocks are at the edge of a
large delta and confirm the presence of many major oil and gas
prospects.


Neil Moore, President of SCS, stated, "The fault blocks were
visualized using satellite images. The correlating seismic ties to
prospective zones that are up to 500 feet thick. Each of the fault
tiers covers more than 25 square miles." Moore also said, "These sites
are now being considered for high density 3D seismic operations. At
depths of 16,000 feet and assuming typical porosities, each block can
hold up to 70 trillion cubic feet of gas. The northwest continental
shelf of Guinea is now defined as a complex Delta with many
prospects."


Robert Bearnth, Vice President for SCS, explained, "Our extensive
work program consists of acquiring, reviewing, processing,
reprocessing, interpreting and reinterpreting over 16,000 kilometers
of seismic data. This work program will enhance and verify the world
class features we have seen to date." He further remarked, "One oil
company that has reviewed our data saw hundreds of prospects."


In light of these recent developments Kent Watts, Chairman and CEO of HyperDynamics, stated, "The prospect of world class natural gas deposits bodes strong for our company in the light of Alan Greenspan's recent testimony before the U.S. Congress." Mr. Greenspan, Chairman of the Federal Reserve, recently declared, "Today's tight natural gas
markets have been a long time in coming, and futures prices suggest that we are not apt to return to earlier periods of relative abundance and low prices anytime soon." Watts went on to say that, "We feel that Guinea is creating the best environment in the world for exploration and production of hydrocarbons and West Africa is one of the hottest exploration frontiers anywhere.

We are honored and privileged to have the faith and support of the Republic of Guinea." According to Offshore Magazine's May 2003 article titled, West Africa Major Focus of Future E&P Spending, "Global E&P (exploration and production)
expenditures are expected to top $130 billion in 2003. West Africa's vast deepwater frontiers will receive a fair portion of those dollars in the form of exploratory drilling." Exploration in West Africa is
currently being conducted by Woodside Petroleum (AMEX:WPL), Amerada Hess (NYSE:AHC), Marathon Oil (NYSE:MRO), Canadian Natural Resources (NYSE:CNQ), Shell (NYSE:RD & SC), ExxonMobil (NYSE:EOM), Kerr-McGee (NYSE:KMG), Vanco Energy, Premier Oil and Dana Petroleum (London:DNX.L), among others.


When asked about his quote regarding the company's stock being
undervalued back in June, Mr. Watts stated, "Given the current market valuations of similar companies to ours, I believe we are still significantly undervalued with a current market cap of approximately $37MM. For example, Environmental Remediation Holding Corporation (OTCBB:ERHC) is selling at a $115MM market cap and has tremendous upside potential. Far East Energy Corp. (OTCBB:FEEC), a company that acquires, explores and develops natural gas and coal bed methane gas
in the Far East, is at $105MM market cap and has shown and is
continuing to show a very strong stock appreciation. Oil and gas companies are showing positive trends in the market place as evidenced also by Heartland Oil and Gas Corp. (OTCBB:HOGC). Heartland is showing a remarkable track record. As we move forward, we expect the market to more clearly understand our real potential and give us much better
valuations."


About HyperDynamics


HyperDynamics is a provider of integrated information technology services. HyperDynamics' wholly owned subsidiary, SCS Corporation, is focused on geophysical data services for the oil and gas industry including its integrated SCS NuData(SM) services as well as developing new regions of Africa for energy production.


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Reform Act of 1995:

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ADD TO THIS, the region, has a whopping 83 % find rate !!!

Plat