Guinea pair finalise drill plans

TEXAS EXPLORER HYPERDYNAMICS and UK explorer Dana Petroleum have agreed on a two-year exploration programme and budget on acreage of the coast of Guinea.

The pair will drill up to three exploration wells, two of which are firm and one of which is contingent on the results of the first probes.

The plans satisfy the entire work programme required under the production sharing contract for the concession.

Drilling is scheduled to begin in the fourth quarter next year, Hyperdynamics said in a release.

After completing the programme, Hyperdynamics expects to start a contingent 4000 square kilometer 3D seismic survey on the ultra-deep-water section of the concession, the company said.

Hyperdynamics operates the concession with a 77 per cent interest, while Dana holds the remaining 23 per cent.

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