Highlands Natural Resources Regulatory News (HNR)

7 Nov 2006 07:00

Hardman Resources Limited07 November 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 7 November 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 Hardman Resources Limited ("Hardman") provides the following update on itsdrilling activities: UGANDA: Exploration Area 2 Nzizi-1 Exploration/Appraisal Well At 2:00pm on 3 November 2006, the Nzizi-1 well was spudded in Exploration Area2, Uganda, using the Eagle Drill-1 rig. The well has been drilled to a depth of 358 metres in the 9 7/8 inch section andcasing has been run. As at midnight 5 November, the operation was preparing toset the blow out preventer (BOP), following which the well will be drilled aheadto total depth of 1,030 metres. Nzizi-1 will test a structure up-dip of the recent Mputa discovery. The well isdesigned to evaluate the equivalent oil bearing reservoirs intersected in theMputa structure. Nzizi-1 is situated approximately 5.5 kilometres to thesouthwest of Mputa-2 appraisal well. Equities in Block 2 are: Exploration Area 2Hardman Petroleum Africa Pty Ltd (Operator) 50.0%Tullow Oil plc 50.0% 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. MAURITANIA: Block 7 Aigrette-1 Exploration Well Further to the company's last report on 31 October, the Aigrette-1 explorationwell has been drilled to a depth of 3,915 metres in the 12 1/4 inch section.Currently casing is being run, ready to cement, prior to drilling ahead in 8 1/2inch hole to the planned total depth of 4,925 metres. Aigrette-1 is primarily a gas prospect on trend from the Pelican-1 gasdiscovery. The primary targets are stacked Cretaceous sandstones with some 0.7TCF potential. The well is located in a water depth of 1,380 metresapproximately 43 km north, northwest of the 2003 Pelican-1 gas discovery. Equities in Block 7 are: Block 7Dana Petroleum (Operator) 36.00%Gaz de France 27.85%Hardman Resources Ltd 16.20%Woodside 15.00%Roc Oil Company 4.95% Times and dates for Mauritania wells refer to GMT (Mauritania time), 8 hoursbehind Western Standard Time, Perth. All reported depths (except water depth)are referenced to the rig rotary table (RT). SIMON POTTERManaging Director & CEO Note: In accordance with the ASX Listing Rules and AIM Rules, the hydrocarbonreserves and/or drilling update information in this report has been reviewed andsigned off by Mr Ian Bulley, MSC (Geology), Principal Geologist at HardmanResources who is fellow of the Geological Society of London and has at least 5years relevant experience within the sector. He consents to that information inthe form and context in which it appears. This information is provided by RNS The company news service from the London Stock Exchange