Hardman In Falkland's Exploration DealBy Henrietta Jones, 08 Jul...

Hardman In Falkland's Exploration Deal
By Henrietta Jones, 08 Jul 2002



Hardman Resources NL (HDR) has a 30 per cent stake in an oil and gas consortium given permission to explore the south and east of the Falkland Islands.

The group known as Hydrocarbon Consortium has been given 10 adjoining offshore licenses to the region, which has never had exploration licenses granted before. Fellow consortium partner, Global Petroleum is an unlisted Brisbane company with a 50 per cent stake. It plans to raise $15 million and re-list on the ASX next month. Falklands Islands Company owns the remaining 20 per cent of the consotrium.

HDR shares were last traded at 73 cents, up four cents.