Mauritania Drilling Update
05 Dezembro 2003 - 5:01AM
UK Regulatory
RNS Number:9056S
Hardman Resources Limited
05 December 2003
HARDMAN RESOURCES LTD
Ground Floor, 5 Ord Street, West Perth
PO Box 869, West Perth
Western Australia 6872
Tel: +61 8 9321 6881 Fax: +61 8 9321 2375
ABN 98 009 210 235
STOCK EXCHANGE / MEDIA RELEASE
RELEASE DATE: 5 December 2003
CONTACT: Ted Ellyard (08 9321 6881)
RE: OFFSHORE MAURITANIA DRILLING UPDATE
Hardman Resources Ltd ("Hardman") provides the following progress report on the
drilling and testing operations in offshore Mauritania:
Poune Exploration Well
The Poune exploration well (Chinguetti 5-1 Poune) was spudded (commenced
drilling) on 16 November 2003. Since the last report (2 December) the well was
drilled to total depth of 3,285 metres and wireline logs were run. The logs
show that the well has encountered no significant hydrocarbons within the
primary Cretaceous-aged target, although minor hydrocarbon shows were
encountered in Tertiary-aged sandstones which were a secondary, shallower
target. The well will now be plugged and abandoned.
Tiof West
As a follow-up to the recent Tiof discovery, the Area B joint venture has now
taken the decision to drill a second well, additional to the original
exploration programme. As previously announced, the Tiof-1 crestal well drilled
in October-November 2003 encountered a gross oil column of potentially over 100
metres, indicating a field reserve potential in excess of 200 million barrels
recoverable.
Tiof West is a step-out exploration well located approximately 8 kms from
Tiof-1. It is intended to evaluate the extent and nature of the hydrocarbon
accumulation in the Tiof sand channel system.
Participants in the Tiof West exploration well and PSC Area B are:
Woodside Mauritania Pty Ltd (Operator) 35.0%
AGIP Mauritania BV 35.0%
Hardman Resources Ltd 21.6%
Fusion Mauritania B Limited 6.0%
Roc Oil (Mauritania) Company 2.4%
SCOTT SPENCER
DIRECTOR
Note: In accordance with Australian Stock Exchange Limited listing
requirements, the geological information supplied in this report has been based
on information provided by geologists who have had in excess of five years
experience in their field of activity.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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