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broker target This is a month old but has a similar price target at $3.50

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Hardman Resources Limited Issue Date 11/07/2005
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Summary:
Hardman Resources Limited (HDR) is an international oil and gas exploration company with an impressive portfolio of projects. The offshore basin of Mauritania represents HDR's most promising prospects with production expected during the first quarter of 2006. HDR is also listed on the Alternative Investment Market of the London Stock Exchange. The Chinguetti Project is on track for first production by March 2006. The successful transition into producer will enable HDR to pursue other growth opportunities, particularly at Tiof. As HDR is trading at a significant premium to its share price, significant risk remains, especially in delays to production targets. A new CEO brings vital experience to the board and strategic partners like Woodside make HDR an attractive growth proposition. HDR is recommended as a 'speculative buy' for growth.

Hardman Resources Limited
ASX Code: HDR
Recommendation BUY
First Recommended 11 July 2005
Current Share Price: $2.29*
12 Month Price Target: $3.50
Suggested Stop Loss: $1.60
Earnings Per Share : 12.09
Market Capitalisation $: $1,404.9 m
*Price correct at close of trade on 8/07/2005