28th Feb 2006 07:00
Hardman Resources Limited28 February 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 28 February 2006 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 PROGRESS REPORT Hardman Resources Limited ("Hardman") provides the following progress report onits drilling activities: Uganda: Block 2 - Waraga-1 Wildcat Since the last report on 21 February, the Waraga-1 well has set 10 3/4 inchcasing at 847 metres and drilled ahead in 9 7/8 inch hole to 1,500 metres.Intermediate wireline logs were run to determine hole quality. Currentoperations are making up 9 7/8 inch BHA and running in the hole prior todrilling ahead to the planned total depth. Waraga-1 has a planned total depth of approximately 1,850 metres and is located19 kilometres to the northeast of the recently drilled Mputa-1 oil discoverywell and 41 kilometres southwest of the Butiaba Waki-1 well (drilled in 1938).Waraga-1 will test a structural prospect with identical geological targets tothe oil bearing reservoirs seen at Mputa-1. The Waraga prospect was defined bythe 2005 onshore seismic survey and the geological risk has been significantlyreduced by the success of Mputa-1. Times and dates for Ugandan wells refer to UTC/GMT +3 hours (Uganda time), 5hours behind Western Standard Time, Perth. All reported depths are referenced tothe rig rotary table (RT). Hydrocarbon shows will be only be reported after allrequired logs have been run and evaluated, although Hardman will release weeklyupdates on the exploration drilling campaign. Equities in Block 2 are: Block 2Hardman Petroleum Africa Pty Ltd (Operator) 50.0%Tullow Oil 50.0% 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