29th Nov 2005 07:00
Hardman Resources Limited29 November 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 29 November 2005 AUSTRALIAN CONTACT: Peter Thomas Hardman Resources Ltd +61 8 9261 7600 LONDON CONTACT: Patrick Handley Brunswick Group +44 207 404 5959 RE: HARDMAN DRILLING PROGRAMME WEEKLY DRILLING REPORT Hardman Resources Limited ("Hardman") provides the following progress report onits drilling activities: Uganda Block 2: Mputa-1 Wildcat Mobilisation of the drilling rig continues with twenty loads out ofapproximately eighty in total having arrived at the Mputa-1 well site. The wellis expected to spud in mid-December. Mputa-1 will target a structural prospect with potential multiple objectives.The prospect was defined by the 2005 onshore seismic survey and oil seeps havebeen identified in the immediate area. Planned total depth is approximately1,100 metres. Further updates will be provided closer to the spud date. Equities in Block 2 are: Hardman Petroleum Africa Pty Ltd (Operator) 50.0%Tullow Oil 50.0% Mauritania: Block 1: Faucon-1 Exploration Well The 'Stena Tay' drilling rig has begun drilling the Faucon-1 exploration well inBlock 1. The 13-3/8" casing was set at a depth of 1,897 metres. As at midnight on the 28November the well was drilling ahead and had reached a depth of 1,915 metres. Faucon-1 is located in 1,164 metres of water in Block 1. The reservoir target isa Cretaceous canyon complex sealed against a salt diapir, with a planned totaldepth of 4,200 metres. Equities in Block 1 are: Dana Petroleum (E&P) Ltd (Operator) 60.0%Hardman Petroleum (Mauritania) Pty Ltd 18.0%Tullow Oil 20.0%ROC Oil (Mauritania) Company 2.0% All reported depths (except water depth) are referenced to the rig rotary table(RT). Hydrocarbon shows will be only be reported after all required logs havebeen run and evaluated, although Hardman will release weekly updates on theexploration drilling campaign. Times and dates refer to GMT (Mauritania time), 8 hours behind Western StandardTime, Perth. PETER THOMASCHIEF FINANCIAL OFFICER Note: In accordance with Australian Stock Exchange Limited listing requirements,the geological information supplied in this report has been based on informationprovided by geologists who have had in excess of five years experience in theirfield of activity. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Highlands Natural ResourcesTullow Oil