Ain't it fortunate that HNR are dual listed, the other being listing being HDR on the ASX.

It saves the MM having to think in the UK.

They just have to copy what happened there!

Nice.

Yeah a clever bunch they are aren't they. These HNR stock are very news sensitive every announcement re the drilling sends the price a tick down. At least I know where the dips are so that I can increase my holding.

Did not work

Not yet an RNS but explains the drop, in price today.

It can be viewed on the ASX HDR page.

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=hdr&companyName=&principalActivity=&industryGroup=NO



"Pancontinental Oil & Gas NL and joint venture partners, Afrex Ltd and Hardman Resources Ltd today announced a memorandum of understanding
negotiated with the Eritrean Ministry of Energy and Mines for the offshore Red Sea Massawa Block had been declared null and void. The MOU was initially for a six-month period commencing on December 24 2003.

"A number of extensions have been granted since that date to enable continued negotiations with the ministry for a Petroleum Sharing Contract (PSC).

"The final draft of the PSC was submitted to cabinet for
ratification," Pancontinental said.

"Notification has now been received from the ministry that the
MOU and any other documents relating to the Massawa Block have been
declared null and void," the company said.

Afrex Ltd, as operator of the joint venture, is now seeking
discussions with the Eritrean authorities for an explanation and
clarification of the situation..... "

The price drop has nothjing to do with this............

Hardman Resources Limited
04 January 2005




STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 4 January 2005

CONTACT: Kathryn Davies

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT


Hardman Resources Ltd ('Hardman') provides the following progress report on the
Mauritania offshore drilling programme:

Tiof-6 Appraisal Well - PSC B

Progress and Current Status:
Since the last report on 29 December 2004 the West Navigator drilled the Tiof-6
well to 2,212 metres and set the 13 3/8 inch casing. The current operation is
preparing to drill ahead to the planned total depth of 2,750 metres.

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-6 well is located 3 kilometres west of the Tiof-1 discovery well and 1
kilometre east of Tiof-3. Water depth is approximately 1,165 metres.

Well Details:
The Tiof-6 well is intended to further appraise the Tiof oil discovery and will
continue the evaluation of the Miocene channel sand system within the Tiof Field
area as interpreted with 3D seismic.

Chinguetti Development Drilling

Since the last report on 29 December, the Stena Tay has continued drilling
operations on the Chinguetti field. Hardman does not intend to provide detailed
weekly reports during the course of the development well drilling programme but
will continue to report significant matters as appropriate and in accordance
with its continuous disclosure obligations.


Page 2

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 exploration and appraisal well.

Times and dates refer to Mauritania time (GMT), 8 hours behind Western Standard
Time, Perth.

A map showing the location of the 2004/05 wells is available on the Hardman
website (
www.hdr.com.au
) and will be updated during the course of the 2004/2005
drilling programme.

The government of Mauritania has exercised its right to participate in the
Chinguetti development, as previously announced, and the resulting joint venture
interests in the Chinguetti Field and PSC B are:

Company PSC B Chinguetti Field
(Remainder)
Woodside group companies (operator) 53.846% 47.384%
Hardman group companies 21.6% 19.008%
BG group companies 11.63% 10.234%
Premier group companies 9.231% 8.123%
ROC Oil group companies 3.693% 3.250%
Groupe Projet Chinguetti (Govt. interest) - 12.000%



KATHRYN DAVIES
COMPANY SECRETARY AND
CHIEF FINANCIAL OFFICER

Note: In accordance with Australian Stock Exchange Limited listing requirements,
the geological information supplied in this report has been based on information
provided by geologists who have had in excess of five years experience in their
field of activity.

Found this on the ASX - As always HNR/ HDR (ASX) is very news sensitive Shares closed down A$0.030.

PANCONTINENTAL Oil & Gas NL
ACN 003 029 543
4 January 2005
ASX Announcements
Eritrea
Pancontinental, together with its joint venture partners, Afrex Limited and Hardman
Resources Limited, negotiated a Memorandum of Understanding (MOU) with the Eritrean
Ministry of Energy and Mines for the offshore Red Sea Massawa Block.
The MOU was initially for a six month period commencing on 24 December 2003. A number
of extensions have been granted since that date to enable continued negotiations with the
Ministry for a Petroleum Sharing Contract (PSC). The final draft of the PSC was submitted
to Cabinet for ratification.
Notification has now been received from the Ministry that the MOU and any other
documents relating to the Massawa Block have been declared null and void.
Afrex Limited, as operator of the joint venture, is now seeking discussions with the Eritrean
authorities for an explanation and clarification of the situation.
For and on behalf of
Pancontinental Oil & Gas NL
A K Svalbe
Chief Executive Officer & Director
Tel: 08 9227 3220
Fax: 08 9227 3211
Email: svalbe@pancon.com.au
Ground Floor
288 Stirling Street, Perth
Western Australia 6000
P O Box 8260
Perth Business Centre
Western Australia 6849
Tel: (61 8) 9227 3220
Fax: (61 8) 9227 3211
Email: svalbe@pancon.com.au
Web: www.pancon.com.au

Late 1million plus buy today after a broker trade for the same amount.

Could be a precurser to something..............?

Hi SW.. I noticed that too but couldn't work out at this stage what could be in the offing. Now that all the Tiof tests have been conducted in the Chinguetti field I guess we are waiting for a price correction after a string of slightly negative test results towards the end of the programme. It will be the production that really sends the price in the right direction but at the moment there is a bit of a lull & then things should strat moving again. So perhaps the large trades were an indicator that the lull may be over. I notice however that Hardman shares are slightly down again on the ASX (A$ -0.020)as a result of this news. It will be interesting to see if at some point in time the pattern between LSE & ASX remains across the two markets re the Hardman shares or perhaps LSE will receive news in a slightly more positive manner.

STOCK EXCHANGE / MEDIA RELEASE
RELEASE DATE: 6 January 2005
CONTACT: Kathryn Davies
TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600
RE: ASX APPENDIX 3B
PAGES: 9
Please find following ASX Appendix 3B being an application for quotation of additional
securities in the Company pursuant to the exercise of 69,000 options exercisable at $1.10 per
share with an expiry date of 31 December 2004. The exercise of the options raises an
additional $75,900 for the Company.
All options expiring 31 December 2004 were exercised by the due date in accordance with
the terms and conditions of those options.

Some big buys in the afternoon 700k shares within a couple of hours, biggest one 350k shares.

That is two days running big late trades.

I am still hoping that means something.

Well a nice rise today.

As Tiof 6 must have hit the depth a couple of days ago, it bodes well I think.

Looking forward to Tuesday.

HNR up over 7% in Oz overnight!

Crikey!

Tiof 6 news leaking perhaps????

have i seen this post somewhere before????!!!!

how are you sir?

Knackered.

500 mile round trip after porting the above message and not knowing what was going on all day.

I am now going to relax in the knowledge that,


BIG THINGS ARE AFOOT

Very high volume in Oz to midnight. Up nearlly 4%.

CU in the morning!

Another firm to drill oil

By Emmy Olaki

Australian oil exploration company, Hardman Resources, has started mobilising resources for oil drilling on Block 2, on the Albert graben to start on January 25.

Ernest Rubondo, the deputy commissioner in the petroleum exploration department, said Hardman would use some of the equipment, which was used by Heritage Oil in addition to what it has.

Hardman did a lake survey in 2003 and completed interpretation of that data, which indicated several prospects. These extend to the land, so they will also do a detailed survey on the land to delineate a drilling location, Rubondo said.

Hardman is the project operator with a 50% interest in the production sharing agreement over the block. The joint venture partner is Energy Africa. It joins Heritage Oil and Gas who is licensed for Block 3 and recently Block 1 along the same graben.

Exploration area 2 covers about 4,700 square kilometres over the northern part of Lake Albert.

Block 2 is adjacent to Block 3 and has a perceived high prospectivity, following a potential petroleum discovery in the second oil well drilled by Heritage on Block 3.

Energy ministry records show that the area is under-explored, with one well having been drilled on the shores of Lake Albert by Shell in 1938.

Published on: Tuesday, 11th January, 2005
http://www.newvision.co.ug/D/8/220/411160

Tiof 6 = an oil column, not yet measured.

This does mean that Tiof 6 will be commercial and huge imo



Hardman Resources Limited
11 January 2005

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 11 January 2005

CONTACT: Scott Spencer

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT


Hardman Resources Ltd ('Hardman') provides the following progress report on the
Mauritania offshore drilling programme:

Tiof-6 Appraisal Well - PSC B

Progress and Current Status:
Since the last report on 4 January 2005 the West Navigator drilled the Tiof-6
well to the final total depth of 2,963 metres and commenced wireline logging. At
midnight (GMT) 10 January the logging programme was continuing. A preliminary
analysis of logs acquired while drilling and the wireline logs acquired so far
indicates the presence of an oil column. It is currently planned that the well
will be suspended to allow the rig to work on the Chinguetti development
drilling programme before returning to flow test the Tiof-6 well.

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-6 well is located 3 kilometres west of the Tiof-1 discovery well and 1
kilometre east of Tiof-3. Water depth is approximately 1,165 metres.

Well Details:
The Tiof-6 well is intended to further appraise the Tiof oil discovery and will
continue the evaluation of the Miocene channel sand system within the Tiof Field
area as interpreted with 3D seismic.

Chinguetti Development Drilling

Since the last report on 4 January, the Stena Tay has continued drilling
operations on the Chinguetti field. Hardman does not intend to provide detailed
weekly reports during the course of the development well drilling programme but
will continue to report significant matters as appropriate and in accordance
with its continuous disclosure obligations.


Other information:

All reported depths are referenced to the rig rotary table (except water depth).

Times and dates refer to Mauritania time (GMT), 8 hours behind Western Standard
Time, Perth.

A map showing the location of the 2004/05 wells is available on the Hardman
website (
www.hdr.com.au
) and will be updated during the course of the 2004/2005
drilling programme.

The government of Mauritania has exercised its right to participate in the
Chinguetti development, as previously announced, and the resulting joint venture
interests in the Chinguetti Field and PSC B are:

Company PSC B Chinguetti Field
(Remainder)
Woodside group companies (operator) 53.846% 47.384%
Hardman group companies 21.6% 19.008%
BG group companies 11.63% 10.234%
Premier group companies 9.231% 8.123%
ROC Oil group companies 3.693% 3.250%
Groupe Projet Chinguetti (Govt. interest) -

I said:-

BIG THINGS ARE AFOOT

Here it is............


Hardman Resources Limited
13 January 2005

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 13 January 2005

CONTACT: Scott Spencer

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: WIRELINE LOG RESULTS FOR TIOF-6, MAURITANIA

PAGES: 1

Hardman Resources Ltd ('Hardman') provides the following report on the
evaluation of the wireline data:

Tiof-6 Appraisal Well - PSC B

Progress and Current Status:
Since the last announcement made on Tuesday 11 January, evaluation of wireline
and drilling data, including downhole pressure measurements and fluid sampling
indicates that Tiof-6 has intersected oil over a gross interval of at least 123
metres. Wireline oil samples have been recovered to surface. It is interpreted
that no gas or water leg has been intersected by the well. The interval
comprises several good quality sands of varying thickness, and meets the
criteria for flow testing. The well will thus be cased and temporarily
suspended, allowing the West Navigator rig to conduct Chinguetti development
drilling, before returning to resume Tiof-6 test preparations.

Comment:
Chinguetti development drilling has priority over other drilling activity in
this campaign. The Joint Venture is committed to being flexible in rig
scheduling in order to maximise the operational efficiencies of running two rigs
simultaneously. Thus individual wells are occasionally re-scheduled at short
notice, as with the Tiof-6 drilling and completion activities.



SCOTT SPENCER
DIRECTOR

from TMF

Before this RNS:-

Author: dicko54 Number: of 1175
Subject: Broker Opinion Date: 13/1/05 00:01
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!

Recommendations: 3
Hi guys,
Just thought I would share with you an analyst opinion from my share broker in Australia, FYI.....

Stock: Hardman Resources Limited (HDR - $1.66)

Date: 13 January 2005
Current Valuation: $1.65

Recommendations: ST: HOLD LT: HOLD

Event: Company Update

Details:

The Company is still in the process of finalising a replacement for its former MD, Mr Ted Ellyard (who is slowly making a recovery and still undergoing treatment).

We understand that a replacement will be announced close to the end of this month.

After the very disappointing exploration results (dry holes at Merou #1, Capitaine and Dorade), the stock has fallen back to reasonable levels (i.e. the exploration premium that was built into the share price has evaporated).

Impact:

The forward program is to continue the development wells on the Chinguetti oil field, flow test the Tiof #6 well (TD 2963m - and intersected an "oil column" - no data given!, however, pre-drill total depth was 2750m), before moving on to a probable further 3 exploration wells over the next 2-4 months.

The jv partners in PSC B are: WPL 53.8%, HDR 21.6%, ROC 3.6%, BG Group 11.6%, Premier 9.2%.

Next, HDR is still in the process of arranging project finance for part of its share of the capital costs associated with the Chinguetti oil development, after the Mauritanian Government exercised its rights to back into the project for a 12% stake. HDR have a 19% stake in Chinguetti.

Note that UK listed Stirling is essentially funding the Mauritanian Governments back-in rights (we understand that it is 150% of past costs - estimated at US$130m), as well as its share of capital costs (US$600m gross).

The change in equity participation levels post the Mauritanian Governments decision to participate has held up the approvals for HDR debt facilities. The company expects approvals to be confirmed very soon.

The joint venture is currently meeting to determine which additional exploration wells will be drilled (N'Dor, Lead 100, Baruoie), although no details on which targets will be selected is available.

We continue to think that Mauritania is a world-class hydrocarbon province. At these prices, there is not a lot of exploration premium built into the share price (around $0.15/share). We do not expect the stock to rally significantly until the debt package is approved and the expanded exploration program is finalised. As such we retain our HOLD/HOLD recommendation.

I must admit that I expected a bigger rise today & was slightly baffled as to why the drop yesterday. They have found oil for pete's sake & considering a couple of months ago the price rose to 97p surely there is a lot of catching up to do for the share price to reflect the value of the discovery.