Hyperdynamics goes it alone in Guinea

US minnow Hyperdynamics has reduced its licence area by 75% and will open a data room for the relinquished acreage as part of an agreement with the government to extend the licence for 12 months. President and chief executive Ray Leonard told the Oil Capital forum in London on 21 September the company would seek a new partner or equity funding to drill the Fatala well, on a deep-water fan prospect. Fatala has a projected spud date of April 2017 and is expected to cost $46m; Hyperdynamics would like to drill a second well, bringing the cost to $77m.