Highlands Natural Resources Regulatory News (HNR)

13 Jan 2005 07:01

Hardman Resources Limited13 January 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 13 January 2005 CONTACT: Scott Spencer TELEPHONE: Within Australia: 08 9261 7600International: +61 8 9261 7600 RE: WIRELINE LOG RESULTS FOR TIOF-6, MAURITANIA PAGES: 1 Hardman Resources Ltd ("Hardman") provides the following report on theevaluation of the wireline data: Tiof-6 Appraisal Well - PSC B Progress and Current Status:Since the last announcement made on Tuesday 11 January, evaluation of wirelineand drilling data, including downhole pressure measurements and fluid samplingindicates that Tiof-6 has intersected oil over a gross interval of at least 123metres. Wireline oil samples have been recovered to surface. It is interpretedthat no gas or water leg has been intersected by the well. The intervalcomprises several good quality sands of varying thickness, and meets thecriteria for flow testing. The well will thus be cased and temporarilysuspended, allowing the West Navigator rig to conduct Chinguetti developmentdrilling, before returning to resume Tiof-6 test preparations. Comment:Chinguetti development drilling has priority over other drilling activity inthis campaign. The Joint Venture is committed to being flexible in rigscheduling in order to maximise the operational efficiencies of running two rigssimultaneously. Thus individual wells are occasionally re-scheduled at shortnotice, as with the Tiof-6 drilling and completion activities. SCOTT SPENCERDIRECTOR 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