Up again 3.57% overnight in Oz where holders state has hit a resisance point of $1.77 AUS.

http://moneyam.uk-wire.com/cgi-bin/articles/200502080700283304I.html

Tiof testing underway and looks on schedule.

Lifted from elsewhere

Hardman In Transition, CSFB Says

February 09 2005 - Australasian Investment Review (AIR)

The analysts at CSFB feel that Hardman Resources (HDR) is a company in transition.
Hardman is set to commence production from in offshore Mauritania development (Chinguetti) in early 2006 and has the potential to add two further developments through 2008, the analysts say.

Success would underpin production growth to in excess of 11Mb within this period and this is expected to drive strong earnings growth.

While exploration is expected to drive the stock over the near term, the analysts point to the metals and mining sector as evidence that companies are prepared to recognise and price unrealised value in company assets.

For Hardman this comes in the form of undeveloped gas reserves, particularly where synergies could enhance the development of these assets, CSFB points out.

Although gas discoveries in Mauritania are yet to be fully appraised, the analysts feel the unlocking of long term value on these volumes could be the catalyst for corporate activity.

On the brokers calculations valuation upside from their success case assumptions is nearly $1.00, unadjusted for risk.

The analysts have an Outperform recommendation on the stock with a target of $2.30.


http://www.aireview.com/index.php?act=view&catid=8&id=1315

Oz overnight

HDR 1.820 5.81% 1.820 1.830 1.760 1.840 1.750 8,558,885

http://www.asx.com.au/asxpdf/20050209/pdf/3pnvcj95rd7l2.pdf

Hardmans shiny new brochure for Feb 2005 just arrived on it's site.

Interestnig read. This is a sure fire winner.

Forgot to post the link...........

http://www.gtp.com.au/hardman/inewsfiles/HDRInfoBrochureFeb2005.pdf

Thank you.

gaw

tight bug*ers.

only a 3p rise today and tiof 6 due this time next week.

Well in with this one, and long may it remain so.................

Odd, never much volume.

Holders want to reain holders and sellers, there are not many.

I have noted this before, it has no effect on rises and falls however.

Odd.

Does this mean we are rich??????

Mickey, today if it gets to 10% up, is the time to sell.

It has in Oz so good luck with your decision. (11% overnight).

HDR 2.090 11.76% 2.100 2.100 1.880 2.110 1.870 34,039,451

I wouldn't though!


Australia's Hardman says Mauritania oil field may contain 1 bln barrels
AFX


SYDNEY (AFX) - Australia's Woodside Petroleum Ltd and its joint venture partners have had further success with an oil appraisal and exploration program off the coast of the west African nation of Mauritania, Hardman Resources Ltd, an Australian partner, reported, adding that the offshore field could contain as much as 1 bln barrels of oil.

Hardman said the Tiof-6 appraisal well in Production Sharing Contract Area B, flowed up 12,400 barrels of oil a day, constrained by a 104/64 inch choke.

It said the well test is currently in the main flow period and the well is flowing at a stable rate of about 9,150 barrels of oil per day in the main flow period constrained by a 72/64 inch choke.

The Tiof-6 well is located 3 km west of the Tiof-1 discovery.

Hardman chief executive Simon Potter said Tiof-6 represented an encouraging oil flow but the sands tested are of poorer quality than those at joint venture partners' nearby Chinguetti oilfield, already under development.

Nevertheless, he said, flow rates at Tiof-6 exceed pre-test expectations.

He said the results of the appraisal program to date have upheld Hardman's initial assessment of about 1 bln barrels of oil-in-place within the Tiof field.

But, Potter said, the assessment of potentially recoverable oil, classified as reserves, is more difficult.

'The results of this test will form a critical part of the assessment of the Tiof development,? Potter said.

Woodside owns 53.846 pct of Tiof while Hardman has 21.6 pct. UK-based BG Group Plc has 11.63 pct, the Premier group of companies also of the Uk, has 9.23 pct and Australia's Roc Oil holds 3.693 pct.



bruce.hextall@xfn.com

blh/tr

Looks like it's time to crack open the bubbly! Bit early maybe...ah what the hell!

I started last night.

I saw a big trade during the day which was out of character for this stock, so I bought some more.

Then at the end of the day there was another big trade, so for once I guessed right.

Nice move SWW. With any luck this news will help shift SEY as well. What a good start to the day!

Hardman have always been very good to me.

;-))

No complaints here either.

sandrew64, looks like it's me and you here.

Price is holding at 85p as I write.

All looks good.

For some strange reason, which I have never understood especially as this company issues updates so regularly,HNR seems to be a forgotten share in the press and the bbs.
Perhaps they're all waiting til it hits a fiver a share. Cheers to you and me SWW.

It's Australian, and whilst I would not suggest that is the reason, the press prefers a British slant.

In respect of Mauritania, they have Premier to talk about.

I have often noted that good news from the venture is attributed to Premier e when in fact I would call their invovement, and I quote myself, "Piddling"

Sterling have pinched most of it anyway!

PMO are not a big player in Africa yet.

I note DNX are diving lately too, I wonder why?

I agree that there is a big upside now to HNR.

If you go to TMF, thwre is a lot of good info on the HNR board and very knowledgeable posters, oh I post but they are not interested in cooking it seems :-(

An excellent drilling report on Tiof 6, some good news from there at last. Seems to be better for HNR than SEY though, HNR up, SEY nothing. Well done to you HNR holders. Buy rec out this morning on HNR.

KBC Peel Hunt reiterates buy Burren Energy (BUR.L) and buy Hardman Resources (HNR.L).

Thanks gav good info.

I hope you have a few?

Keeping a very close eye on it. Was going to go long earlier at 85 via s/bet then sp moved up a touch so waiting to see what happens. A few decent sized trades earlier. I wonder what will happen in Oz overnight? Was looking at DNX earlier as well, pretty volatile today, but missed that one. Thats what happens when you try to keep your eyes on too much I guess! 2 eyes are not enough!