Highlands Natural Resources Regulatory News (HNR)

6 Dec 2005 07:00

Hardman Resources Limited06 December 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 6 December 2005 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 DRILLING REPORT Hardman Resources Limited ("Hardman") provides the following progress report onits drilling activities: Mauritania: Block 1 - Faucon-1 Exploration Well The 'Stena Tay' drilling rig is continuing operations on the Faucon-1exploration well in Block 1 offshore Mauritania. While drilling at 3,475 metresthe well had a fluid influx of 27 barrels. The well was shut-in, then controldrilled to 3,536 metres when a decision was taken to run an intermediate loggingsuite. Preliminary analysis of drilling and wireline data indicates that the well hasencountered hydrocarbon bearing sandstones within the upper section of theprognosed Cretaceous age target zone. Current activity is running a full suite of wireline logs, and obtainingformation pressures, fluid and core samples. In order to fully explore theCretaceous section it is likely that an additional casing string will berequired prior to drilling ahead a further 700 metres to the planned totaldepth. Further announcements will be made on completion of the evaluation of thelogging data, if this is earlier than the regular weekly drilling update. Faucon-1 is located in 1,164 metres of water in Block 1. The reservoir is aCretaceous canyon complex sealed against a salt diapir with a planned totaldepth of 4,200 metres. Equities in Block 1 are: Block 1Dana Petroleum (E&P) Ltd (Operator) ^ 60.0%Hardman Petroleum (Mauritania) Pty Ltd 18.0%Tullow Oil 32.0%ROC Oil (Mauritania) Company 2.0% ^ Gaz De France acquiring 24% subject to completion of their assignment fromDana. All reported depths (except water depth) are referenced to the rig rotary table(RT). Hydrocarbon shows will be only be reported after all required logs havebeen run and evaluated, although Hardman will release weekly updates on theexploration drilling campaign. Times and dates refer to GMT (Mauritania time), 8 hours behind Western StandardTime, Perth. Uganda: Block 2 - Mputa-1 Wildcat Mobilisation of the drilling rig continues with sixty loads out of approximatelyeighty in total having arrived at the Mputa-1 well site. During the last weekrig up commenced and the well is expected to spud in mid-December. Mputa-1 will target a structural prospect with potential multiple objectives.The prospect was defined by the 2005 onshore seismic survey and oil seeps havebeen identified in the immediate area. Planned total depth is approximately1,100 metres. Further updates will be provided closer to the spud date. 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