Highlands Natural Resources Regulatory News (HNR)

14 Nov 2006 07:00

Hardman Resources Limited14 November 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 14 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 Since Hardman's last report, Nzizi-1 has been drilled to a total depth of 1,065metres in a 6 3/4" hole. As at midnight on 13 November, wireline logs were beingrun after having encountered oil shows across the target intervals. Nzizi-1 is testing a structure up-dip of the Mputa discovery and was designed toevaluate the equivalent oil bearing reservoirs intersected in the Mputastructure. Nzizi-1 is situated approximately 5.5 kilometres to the southwest ofMputa-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. Hydrocarbon shows will only bereported after all required logs have been run and evaluated, although Hardmanwill release weekly updates on the exploration drilling campaign. MAURITANIA: Block 7 Aigrette-1 Exploration Well Aigrette-1 has been drilled in 8 1/2" hole to a depth of 4,475 metres. As atmidnight on13 November, the well is drilling ahead towards the planned target depth of4,925 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