MAURITANIA DRILLING PROGRAMMEWEEKLY PROGRESS REPORTPAGES:...

MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT
PAGES: 2
Hardman Resources Ltd (“Hardman”) provides the following weekly progress report on the
Mauritania offshore drilling programme:
Tiof-3 Appraisal Well – PSC B
Progress and Current Status:
Since the last report (16 November 2004) the West Navigator has finished completion operations on
the test interval and at midnight on 22 November 2004 preliminary activities prior to flowing the well
were underway. A further announcement will be made when the results of the flow test are known.
Well Location:
The Tiof discovery is located approximately 90 kilometres west of Nouakchott, the Mauritanian
capital, and 25 kilometres north of the Chinguetti Field. The Tiof-3 well is located approximately
4 kilometres west of the Tiof-1 discovery well. Water depth is 1,198 metres.
Well Details:
The Tiof-3 well is intended to appraise the Tiof oil discovery. The well will further evaluate the
Miocene channel sand system within the Tiof Field area as interpreted with 3D seismic.
Tiof-4 Appraisal Well
Progress and Current Status:
Since the last report (16 November 2004) the well was plugged and abandoned on 18 November 2004
as planned. The Stena Tay drilling rig then commenced transit to the Merou-1 location.
Well Location:
The Tiof-4 well is located approximately 2.5 kilometres southwest of the discovery well
Tiof-1 and 2.2 kilometres east of the Tiof-3 well. Water depth is 1,119 metres and the total depth of
the well was 2,908 meters.
Level 1, 50 Kings Park Road, West Perth
PO Box 869, West Perth
Western Australia 6872
Tel: +61 8 9261 7600 Fax: +61 8 9321 2375
ABN 98 009 210 235 HARDMAN RESOURCES LTD
Web address: www.hdr.com.au email: [email protected]
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Well Details:
The Tiof-4 well was intended to appraise the Tiof oil discovery. The well further evaluated the
Miocene channel sand system within the Tiof Field area as interpreted with 3D seismic.
Merou-1 Exploration Well
Progress and Current Status:
The Merou-1 exploration well was spudded on 20 November 2004 by the Stena Tay drilling rig. The
18-1/2 inch hole was drilled to a depth of 2,663 metres where the 13 3/8 inch casing was set. The
current operation at midnight GMT on 22 November was running riser and blowout preventers (BOPs)
prior to drilling ahead to the target.
Well Location:
The Merou Prospect is located approximately 110 kilometres west of Nouakchott, the Mauritanian
capital, 35 kilometres northwest of the Chinguetti Field and 25 kilometres west of the Tiof oil
discovery. Water depth is 1,775 metres and the planned total depth of the well is approximately 3,045
meters.
Well Details:
The Merou-1 exploration well is testing a structural/stratigraphic trap of Miocene aged channel
sandstones draped over a large salt diapir. This main target is at approximately 2,805 metres depth.
Other information:
All reported depths are referenced to the rig rotary table (except water depth).
Hydrocarbon shows will only be reported after all required logs have been run and evaluated for each
well.
Times and dates refer to Mauritania time (GMT), 8 hours behind Western Standard Time, Perth.
A map showing the location of the wells will be available on the Hardman website (www.hdr.com.au)
and will be updated during the course of the 2004/2005 drilling programme.
The remaining 2004/05 drilling programme will include wells in two production sharing contract areas
(PSC’s). Joint venture interests in those areas are:
Company PSC A PSC B
Woodside group companies (operator) 53.846% 53.846%
Hardman group companies 24.3% 21.6%
BG group companies 13.084% 11.63%
Premier group companies - 9.231%
Fusion Mauritania A Ltd 4.615% -
ROC Oil group companies 4.155% 3.693%