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Tuesday, September 19, 2017
Hyperdynamics issued additional results from its analysis of well logs from the Fatala-1 well recently drilled by the company and its partner Sapetro, off the coast of Guinea.
According to Ray Leonard, Hyperdynamics CEO and president, the company’s immediate focus was the review of the well log results from the targeted 75-meter-thick main channel, which unfortunately did not yield any oil shows above oil based mud signature while drilling or from an analysis of the cuttings taken from the well.
Leonard went on to say, “However, from our detailed study of the logs conducted over the last several days, we identified five meters of calculated hydrocarbons in the upper Cenomanian channel located above our main target formation. This five-meter sand has an average porosity of 17% and a hydrocarbon saturation of 61%. A minor background gas increase was also observed while drilling through this interval. A review by eSeis, our independent geophysical and petrophysical consultant, concurred with our findings.
“These results are technical calculations, and the thickness, porosity and saturation characteristics from this zone does not by itself make Fatala a commercially developable project, but we believe it could be an encouraging sign for the hydrocarbon potential of the offshore Guinea shelf,” he added.
Hyperdynamics and Sapetro will hold further discussions with the Guinea government to determine any future options for further activity in Guinea taking into account this additional information.
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