and ... just to feel even better !!Hardman's Interests In...

and ... just to feel even better !!
Hardman's Interests In Mauritania ...

SG thinks that Pelican is a much more significant asset than is presently being factored into the SP.
POO + SOTTO + PELICAN GAS (BG TAKEOVER)+ CHING & TIOF = $10.00 +++ !!!

"Hardman has interests in eight offshore blocks in Mauritania, covering approximately
57,000 km2 (after relinquishments). Drilling programs currently underway include the Chinguetti oil field and appraisal of the Tiof oil field, while further exploration and appraisal is expected to be undertaken in 2005. Hardman's exploration success rate in Mauritania is approximately 50%, which is three to four times the global average.

Pelican - 16.2%
The Pelican gas field was discovered in 2003. This field is older and geologically distinct from Chinguetti, Tiof and Banda. Pelican is situated 150 km north of Chinguetti, at 1700 m. Further 3D evaluation is planned for 2005.

Chinguetti - 19.008%
In 2001 the offshore Chinguetti oil field was discovered and in 2002 appraisal drilling commenced. After a production test in 2003, the development of the field begun in 2004. In 2005 development drilling is underway. The project is currently on track for first oil production in the first quarter of 2006.
The initial development will include six production wells and six water injection wells with flowlines to a leased Floating, Production, Storage and Offtake vessel (FSPO).
The proven and probable (2P) recoverable reserve has been estimated at 126 million barrels.

Tiof - 21.6%
The Tiof oil field was discovered in 2003 and appraised in 2004/5. The Tiof-6 well was temporarily suspended so that the West Navigator rig could return to Chinguetti for higher priority development drilling, but the well will be flow tested when the rig completes the current work at Chinguetti. The Tiof field is located around 25 km north of Chinguetti.
Hardman estimates that this field has one billion barrels oil-in-place; a production test will determine how much of it may be produced.

Tevet - 21.6%
The Tevet oil and gas field was discovered in 2004. This acreage is situated 10 km northeast of Chinguetti, within a potential tie-back distance. Pre-drill mapping and assessment estimates 50 to 100 million barrels of contingent resources.

Banda - 24.3%
The Banda oil and gas discovery was made in 2002. The field lies in only 300 m deep water, 20 km east of Chinguetti. One or two appraisal wells will most likely be drilled in 2005.