Highlands Natural Resources Regulatory News (HNR)

21 Feb 2006 07:00

Hardman Resources Limited21 February 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 21 February 2006 AUSTRALIAN CONTACT: Simon Potter 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 14 February, the Waraga-1 well has set 13 3/8 inchcasing at 117 metres and drilled ahead in 12 1/4 inch hole. Current operationat midnight 20 February is drilling ahead at 748mRT prior to running wirelinelogs, setting 10 3/4 inch casing and drilling ahead in 9 7/8 inch hole to totaldepth. 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% SIMON POTTERMANAGING DIRECTOR 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