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hdr finds oil again in uganda Hardman, Tullow find oil at third Ugandan well

Tuesday May 23, 2006, 1:33 pm


SYDNEY, May 23 (Reuters) - Hardman Resources Ltd. (ASX: HDR.ax) HNR.L said on Tuesday that hydro-carbons found at its Mputa-2 well in Uganda were encouraging, and suggested a wide lateral extent for the reservoir first discovered at Mputa-1 in February.

Hardman and equal joint venture partner Tullow Oil TLW.L TLW.I will take samples from the find, which it said could contain more water than Mputa-1, for further evaluation.

In March the partners said they had found oil at the Waraga-1 exploration well, 19 km (12 miles) to the northeast of Mputa.

Hardman has recently achieved its first oil production, from the Chinguetti field offshore Mauritania in West Africa operated by Woodside Petroleum Ltd. (ASX: WPL.ax) .

Shares in Hardman added 2.9 percent by afternoon trade in an overall market down 0.2 percent.