Mauritania Drilling Report

9 Oct 2006 07:00

Hardman Resources Limited09 October 2006 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 9 October 2006 AUSTRALIAN CONTACT: Peter Thomas Hardman Resources Ltd +61 8 9261 7600 LONDON CONTACT: Patrick Handley Brunswick Group (UK media relations) +44 207 404 5959 RE: MAURITANIA DRILLING UPDATE PAGES: 1 Hardman Resources Limited ("Hardman") provides the following update on itsexploration drilling operations: Mauritania Exploration Drilling Update: Aigrette-1 (Block 7) On 7 October 2006, the Atwood Hunter commenced drilling the Dana-operatedAigrette-1 exploration well in Block 7 offshore Mauritania, West Africa. As at6:00am on 8 October, the well had been drilled to a depth of 1,838 metres andthe current operation was drilling ahead. 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. Theplanned Total Depth is 4,925 metres. Equities in Block 7 are: Block 7 Dana Petroleum (Operator) 36.00%Gaz de France 27.85%Hardman Resources Ltd 16.20%Woodside 15.00%Roc Oil Company 4.95% Hardman's next scheduled exploration drilling update will be announced on 17 October 2006. 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). PETER THOMASChief Financial Officer 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