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re--announcement Sydney - Wednesday - July 16: (RWE) - Hardman Resources Ltd
today announced Woodside Petroleum Ltd, as operator of the PSC Area B
joint venture, had signed a letter of intent with Smedvig Offshore AS
for the drillship West Navigator to drill up to four wells in offshore
Mauritania during 2003.
The drillship is completing work in the North Sea and the
drilling contract is being finalised, after which the rig will mobilise
to Mauritania, where it is expected to arrive the third week of August.
Following meetings between the PSC Area B partners earlier this
month, the joint venture has agreed to drill two firm wells in the 2003
drilling campaign.
A third well will be proposed in PSC Area B on the basis of a
number of prospects under consideration.
Also, a fourth well is to be drilled in PSC Block 7, which is
operated by Dana Petroleum.
Hardman holds 21.6 per cent and 18.0 per cent equity in PSC Area
B and PSC Block 7 respectively.
Shares in Hardman rose 1c to 61c this morning.
Woodside also rose 1c, to $13.
ENDS