Drilling Report

8 Nov 2005 07:02

Hardman Resources Limited08 November 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 8 November 2005 AUSTRALIAN CONTACT: Peter Thomas Hardman Resources Ltd +61 8 9261 7600 LONDON CONTACT: Patrick Handley Brunswick Group +44 207 404 5959 RE: MAURITANIA DRILLING PROGRAMME, WEEKLY DRILLING REPORT Hardman Resources Limited ("Hardman") provides the following progress report onits Mauritania offshore activities: PSC Area B: Tevet-2 ST1 Appraisal / Exploration Well Final abandonment operations were concluded on the 5 November and Tevet-2 ST1was plugged and abandoned as planned. The 'Stena Tay' rig then moved to the Labeidna-1 location. PSC Area B: Labeidna-1 Exploration Well Labeidna-1 spudded on the 5 November in 1,266 metres of water, and as atmidnight on the 7 November, drilling had reached a depth of 2,198 metres on itsway to a planned total depth of 3,095 metres. Labeidna-1 will target Miocene turbidite sands in the vicinity of the Chinguettifield, which is approximately 15 kilometres to the north east. Hardman interests in PSCs A, B and the Chinguetti field are: PSC B PSC A Chinguetti Field (EEA)Woodside (operator) 53.846% 53.846% 47.384%Hardman 21.6% 24.3% 19.008%BG Group 11.63% 13.084% 10.234%Fusion/Premier 9.231% 4.615% 8.123%ROC 3.693% 4.155% 3.250%Groupe Projet Chinguetti - - 2.000% 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. PETER THOMASCHIEF FINANCIAL OFFICER 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