Drilling Report

18 Oct 2005 07:01

Hardman Resources Limited18 October 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 18 October 2005 AUSTRALIAN CONTACT: Simon Potter Hardman Resources Ltd +61 8 9261 7600 LONDON CONTACT: Patrick Handley Brunswick Group +44 207 404 5959 RE: MAURITANIA DRILLING PROGRAMME WEEKLY PROGRESS REPORT Hardman Resources Limited ("Hardman") provides the following progress report onits Mauritania offshore activities: PSC Area B: Tevet-2 ST1 Appraisal / Exploration Well Since the last report on 11 October 2005 the 'Stena Tay' drilling rig hassidetracked the Tevet-2 borehole from 3,048 metres. An 8-1/2" hole section wasdrilled to the 7" casing point at 3,667 metres. At midnight on the 17 Octoberpreparations had begun to drill the 6-1/2" hole through the Cretaceous section,inclusive of the lithology at 3,741 metres at which the original borehole took akick. The planned total depth (TD) of 3,965 metres remain unchanged. The Tevet-2 well is located 2.5 kilometres to the South of the Miocene discoverywell Tevet-1, and lies in a water depth of 466 metres. Hardman interests in PSC's 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% 9.008%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 - - 12.000% 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. 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