HDR hardman resources limited

megalopotter?

  1. 76 Posts.
    Folks dont know if this has been posted. But for your interest, it's a report from Bloomberg and bizarrely makes it look like Simon is actually running the show. Some interesting stuff on the other propects though

    Sept. 30 (Bloomberg) -- Hardman Resources Ltd., a partner
    in Woodside Petroleum Ltd.'s $705 million oil project in
    Mauritania, plans to drill nine exploration wells off the West
    African nation by mid-2006, even after two dry holes in the
    past six weeks.
    The Perth-based oil and gas company also plans to drill its
    first well to search for fuel in Uganda and lead a $30 million
    program in French Guiana, including one exploration well,
    within that time, Chief Executive Simon Potter said today in
    an interview in Sydney.
    Hardman, Woodside and their partners in Mauritania,
    which include BG Group Plc, are due to start up Chinguetti,
    the country's first oil project, in February at about 75,000
    barrels a day. The first two exploration wells drilled off the
    country in this year's exploration campaign failed to find oil,
    which was ``disappointing,'' Potter said.
    ``We don't drill wells to be failures, we drill wells to be
    commercially successful,'' Potter said. ``The forward program
    is robust to any individual failure down the line, so our
    commitment to keeping the rig active and drilling on those
    targets is still there. Mauritania is still a frontier province.''
    Shares in Hardman Resources, which is about 10.5 percent
    owned by Perth-based Woodside, have risen 11 percent in
    the past year. That makes it the worst performer in the
    Australian Stock Exchange's benchmark energy index,
    reflecting disappointment among some investors about
    drilling results. The shares more than doubled in the first six
    months of 2004 before last year's exploration program.
 
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