Highlands Natural Resources Regulatory News (HNR)

7 Feb 2006 07:00

Hardman Resources Limited07 February 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 7 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 Mobilisation of the drilling rig from the Mputa-1 location has been completedwith the last loads arriving at the Waraga-1 well site on 31 January. Rig up atWaraga-1 location is approximately 70% complete. The well is expected to spudwithin the next week. Waraga-1 has a planned total depth of approximately 1,850 metres and will test astructural prospect with identical geological targets to the oil bearingreservoirs seen at Mputa-1. The well is located 19 kilometres to the northeastof the recently drilled Mputa-1 oil discovery well and 41 kilometres southwestof the Butiaba Waki-1 well (drilled in 1938). 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