Highlands Natural Resources Regulatory News (HNR)

14 Feb 2006 07:00

Hardman Resources Limited14 February 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 14 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 The Waraga-1 well was spudded on 12 February at 1630 hours. The well has drilled16 inch hole to 119 metres. Casing and cementing operations are in progressprior to drilling ahead in 12 1/4 inch hole. 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 Exchange