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!

DNX is supposed to be profit takers, (having researched it).

Oz expects upward tonight, and this stock has a histroy of dropping a bit on the third day.

If the pattern is repeated, I may sell some back, then again........

Ah decisions, decisions, decisions! Lol. May wait here for a dip to enter, if one happens. Problem being, if up in Oz overnight then would be marked up from the open. Watching with a close eye though. The fall in DNX seems a bit of an over-reaction.

DNX is far to far imo.

4.56, would expect a little resistance (from advfn) around the 50 day SMA.

If it gets below 4.60 it has to be a buy.

If it dropped under 460 then I would be in, but don't think it will fall that far. Seems to be bouncing now. 456 would be a good price though to go long.

I'm in for the long term on this one. Got great confidence in it. I believe the recent rises will pale in comparison to when the taps get switched on next year hopefully akin to the Melrose Resources story.

I reckon you are spot on wypanb.

I have just decided that I am definitely a no sell of these.

From UK-Analyst tonight:

"Premier Oil stock added 23p to 608p after a warmly welcomed update on its Tiof-6 appraisal well in Mauritania. it said that the maximum rate the well had been flowed at was approximately 12,400 barrels of oil plus 11.0 million standard cubic feet of gas per day constrained by a 104/64 inch choke. The well test is currently in the main flow period and the well is flowing at a stable rate of approximately 9,150 barrels of oil per day in the main flow period constrained by a 72/64 inch choke, it added. Premier has a 9.231% interest in the well, with Hardman Resources having a 21.6% interest (up 7.75p to 84.25p) and Roc Oil a 3.693% interest (up 2p to 82p). BG Group also has a 11.63% interest."

Edited this from hotcopper, the original from yahoo biz will not load.

Hotcopper

Posted by daski00

INTERVIEW:Australia's Hardman Surges On Mauritania Hopes 15/02/05 19:43:00

By Stephen Bell
Of DOW JONES NEWSWIRES

"Over the next few months we'll move from analyzing the results, to
considering whether we should go to the next stage and move toward a field
development concept," Hardman director Scott Spencer told Dow Jones Newswires.
"We think the appraisal results are pretty good, so it looks like that is the
path we'll be going down," said Spencer.


&

Hardman declined to comment on market speculation that part of its strong
rebound Tuesday may have been due to renewed takeover talk involving U.K.-based
BG Group PLC (BRG), a minority owner of Tiof.
"We hear rumors all the time," Spencer said. At current prices Hardman is
valued at about A$1.37 billion.

Finally

A Woodside Petroleum spokesman declined to comment on the latest Mauritania
success.
"The appraisal results will take several months to analyze," the spokesman
said, adding that Woodside will unveil "contingent resources" for Tiof Wednesday
in its annual reserve statement.
Last year Woodside said that Tiof could become the company's second production
hub off the west African coast by 2008, based on a stand-alone development
costing up to A$2 billion.

Woodside managing director Don Voelte spoke to The Age.

.http://www.theage.com.au/news/Business/Woodside-set-to-step-on-the-gas/2005/02/16/1108500152881.html

Right at the end of the interview he slipped in this note concerning Tiof 6 and Hardman initial estimates.

..............., Woodside's first-pass contingent recoverable reserve estimate for the Tiof oil discovery offshore from Mauritania of 287 million barrels.

Mr Voelte said there was agreement on Tiof being a 1 billion barrel find (in-situ).

The eventual recovery factor could come in higher than Woodside has applied in its initial estimate. Tiof partner Hardman has suggested that 40 per cent - or 400 million barrels - is more likely

http://moneyam.uk-wire.com/cgi-bin/articles/200502170924287159I.html

FOGL's update on seismic surveys.

Hardman own 22.5% I believe and of course a slice of FOGL.


Movement for FOGL but none for Hardman!

Typical.

Unbelievable...sp down .30p again so far this morning.!!!???!!

MS if you are lurking...I tried your tandoori chicken recipe last night...delicious!! thanks for that.

sandrew64

Glad you enjoyed it. I'll post more when I get time.

MS

sandrew64 it's down because tiof 6 was already written into the price so say some who know, and becasue of the fumbling about over how much was found.

Seems Woodside are very conservative with figures and curve up the figure later.

It'll probably drop a bit more and hold around 77p imo.

May be time to have a few more then if you feel so inclined.

Oh all right then, as no one else is buying.

lol

We are being read by Australia. (Must be the famous recipes).

Hello the other side of the world.

Feel free to say hello back, it would be nice to meet you.

Hello from Scotland! Maybe I should post a recipe for haggis! Or will I go out and shoot one instead! ;-)

Found this on Rigzone:

Woodside Petroleum Ltd said it believes the Tiof oil discovery off the coast of Mauritania holds about 287 mln barrels of recoverable oil.

The group's chief operating officer Keith Spence said appraisal work is continuing with a development decision possible by mid-year or the third quarter.

"We don't have a development plan yet," Spence told an analyst briefing Related Products

Hydrocarbon Exploration and Production

Generalized Approach to Primary Hydrocarbon Recovery


after Woodside, about one-third owned by the Royal Dutch/Shell group, reported its full year profit results.

Spence said the estimate is a lower than "perhaps people had been expecting" and different development options will need to considered than if the field contained over 400 mln barrels, adding that the field is likely to be developed as a standalone project.

On Monday, Hardman Resources Ltd, an Australian partner in Woodside-operated project, said Tiof might could contain as much as 1 bln barrels of oil but all of this will not be recoverable.

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

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



http://www.rigzone.com/news/article.asp?a_id=20424

HDR 1.990 3.11% 1.990 2.010 1.930 2.010 1.910 5,092,734


Up nicely overnight.

bb chat says the profit takers left the building and bid speculation again from BG.

Oilbarrel.com

18.02.2005
Hardman Continues To Impress As Tiof-6 Exceeds Expectations
Hardman Resources, listed on the Australian Stock Exchange and Londons Alternative Investment Market, has made something of a name for itself through a single investment made in 1996. The investment was, of course, the decision to sign up for production sharing contracts for large tranches of acreage off the coast of Mauritania in northwest Africa, then a little known country with no history of offshore prospecting.

Times have certainly changed. Along with operator Woodside Petroleum, BG, Premier Oil and ROC Oil, Hardman now has a near 20 per cent stake in one major oilfield, Chinguetti, due on production in the first quarter of 2006, and has racked up a series of interesting discoveries in the deep offshore.

Mauritanias credentials as an oil and gas province gained further lustre this week when the results of the first successful flow test on the Tiof deposit were released. The Tiof-6 appraisal well flowed at a maximum rate of 12,400 barrels per day plus 11 million cubic feet of gas per day, before stabilising at some 9,150 bpd, exceeding pre-drill expectations. It makes up for the disappointment of the Tiof-3 appraisal well, which failed to flow due to mechanical problems.

The Tiof-6 flow rate is good news for the would-be developers of the deposit, as higher flow rates mean fewer wells, which mean lower project costs.

Thats a pretty good flow rate by anybodys standards, said oil analyst Richard Slape of Seymour Pierce.

Tony Alves of KBC Peel Hunt, which has been working on the assumption of 300 million barrels of recoverable oil, also cheered the higher than expected flow rate.

Yet Tiof, which lies 90 km off the capital and some 25 km north of the Chinguetti oilfield in 1,165 metres of water, is still some way from being declared commercial. Hardman Resources puts the oil-in-place number at some 1 billion barrels of oil but admits recovery factors could be an issue. The operator Woodside Petroleum puts the recoverable reserves at some 289 million barrels - a number by no means to be sniffed but perhaps not the bonanza suggested by the initial discovery results. High flow rates do not automatically translate into higher reserves.

Even so, its adding up to a very nice package for Hardman - and, to a lesser extent, fellow London-listed oil companies BG, Premier, ROC and Sterling Energy. A mere 12 months separate the companies from their first cash flows generated by Mauritanian production: Chinguetti is due onstream early next year at a rate of 75,000 bpd. And the Tev-1 discovery, made in October 2004, lies within tie-back distance of the Chinguetti field.

Its also a good time for the new head of Hardman, recently arrived in Perth, former BP executive Simon Potter who took over the reins after long-standing MD Ted Ellyard stood down for personal and medical reasons at the backend of 2004. Under Ellyard the company made its hugely successful foray into Mauritania - and also picked up substantial acreage in Uganda, Guyane and the Falklands - and saw its market cap surge from less than A$5 million to more than A$1 billion. Potter, 47, a Brit with an Australian wife, has a 20-year career at oil giant BP under his belt, most recently working as head of the joint venture between BP and Alfa Group, TNK-BP, in Russia.

Hes gone from reporting to the board of a 113 billion market cap company to running a company with a market cap of 550 million, observed one industry insider on Potters appointment. There are not that many jobs for someone of his level in Perth and this is a very important move and good news for him, good news for Hardman and good news for Australia.

London-based analysts are keen to meet Potter. The CV looks impressive, said Slape of Seymour Pierce, adding: It is an issue that the management team for quite a large E&P company is so far away with an eight hour time difference. It does make it difficult to talk to them and as long as that remains the case, they will struggle to get a lot of analyst coverage.

Yet as long as Mauritania continues to deliver the goods, it seems likely that Hardman will remain on many investors radar for some time to come.