15th Jul 2005 07:01
Hardman Resources Limited15 July 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 15 July 2005 AUSTRALIAN CONTACT: Simon PotterHardman Resources Ltd+61 8 9261 7600 LONDON CONTACT: Patrick HandleyBrunswick Group+44 207 404 5959 RE: CLARIFICATION OF MEDIA REPORT Hardman Resources Limited (Hardman) wishes to clarify a recent media reportwhich misinterpreted comments made by Hardman concerning the Tiof oil field. It was reported in the media that a decision to progress with the development ofthe Tiof oil field may be made as early as August or September 2005. In fact, the Joint Venture Participants in Tiof have scheduled meetings duringthat period to review ongoing field studies and to assess economic viabilitywith a view to committing expenditure to undertake further appraisal operations. Until such time as the Joint Venture Participants meet it is not possible todetermine the timing of any possible formal declaration of commerciality of theTiof field. Any formal decision by the Joint Venture Participants as to commerciality wouldtrigger a subsequent process that would involve submission of a fielddevelopment plan, requisite approvals by the Government of Mauritania and afinal investment decision by the Joint Venture Participants. SIMON POTTERMANAGING DIRECTOR This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Highlands Natural ResourcesBG..LPMO.LSEY.L