Highlands Natural Resources Regulatory News (HNR)

28 Dec 2005 07:01

Hardman Resources Limited28 December 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 28 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 PROGRESS REPORT PAGES: 2 Hardman Resources Limited ("Hardman") provides the following progress report onits drilling activities: Uganda: Block 2 - Mputa-1 Wildcat The Mputa-1 well was spudded on 22 December and drilled the 18 5/8 inch surfacehole to 107 metres where the 13 3/8 inch casing was run and cemented. Atmidnight on 27 December the rig was waiting for the imminent arrival of parts toreplace a broken driveshaft prior to drilling ahead. The required parts havebeen located and are being airfreighted to Uganda. 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. The planned total depth is approximately 1,100 metres. The well location is 220kilometres north-west of the capital Kampala and onshore 8 kilometres from LakeAlbert. The location is 60 kilometres south-west of the Butiaba Waki-1 well(drilled in 1938) and 87 kilometres north-east of the Turaco exploration wellsdrilled by Heritage in 2002-2004. Equities in Block 2 are: Block 2Hardman Petroleum Africa Pty Ltd (Operator) 50.0%Tullow Oil 50.0% ... Page 2 ... Mauritania: PSC Area C, Block 6 - Zoule-1 Exploration Well The 'Stena Tay' drilling rig spudded the Zoule-1 exploration well on 25 Decemberand drilled the 18 1/2 inch hole to 1619 metres where the 13 3/8 inch casing wasrun and cemented. The current operation at midnight on 27 December was runningthe blowout preventers. Zoule-1 will target Cretaceous turbidite channel sands and has a planned totaldepth of 3,730 metres. The well is located in 782 metres of water approximately70 kilometres from the shore and 27 kilometres southeast of Pelican-1, aCretaceous gas discovery drilled in Block 7 in late 2003 (Hardman has a 16.2%interest in Block 7). Equities in Block 6 are: Block 6Hardman Petroleum (Mauritania) Pty Ltd 22.422%Woodside Mauritania Pty Ltd 37.578%ROC Oil (Mauritania) Company 5%Petronas Carigali Overseas Snd Bhd 35% 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 for Mauritania wells refer to GMT (Mauritania time), 8 hoursbehind Western Standard Time, Perth. Uganda time is GMT+3, 5 hours behindWestern Standard Time, Perth. 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