i topped up yesterday.

Buyers day today.

Dare say some of those who bailed yesterday are coming back in.

This is what it was all about.

As I said, a load of nothing.

Take the money when it's offered I say!

http://www.theage.com.au/articles/2004/08/10/1092102448459.html

Crackdown hits Mauritania venture
By Barry FitzGerald
Resources Editor
August 11, 2004

Nervous investors yesterday wiped a total of $435 million from the market value of the Woodside-led Australian contingent heading up Mauritania's first oil development.

The sharp sell-off in Woodside, Hardman and Roc Oil was prompted by reports of a security crackdown by Mauritania's coup-wary Government.

The crackdown on Monday by the pro-Western Islamic state was viewed as a pre-emptive strike against plotting by disaffected military elements and radical Islamists to seize power from President Maaouya Ould Taya.

There was no official confirmation of the crackdown but one news agency reported 27 soldiers had been arrested, including a cousin of the main player in a failed coup in June last year.

Unlike last year's coup attempt, there were no reports of gun or tank battles in the dusty streets of the capital, Nouakchott.

But Woodside took the security scare seriously enough to suspend travel to the country "until the situation becomes clearer".

Woodside said that reports from its staff in the country and various diplomatic sources indicated that the situation in the capital was calm.

The group's staff and 20 contractors associated with the $US600 million ($A837 million) Chinguetti oil project were ordered to stay at home pending the all-clear.

Woodside said that, while it was not entirely sure what was going on, it was able to report that life in Nouakchott was proceeding normally.

It said it did not expect any impact on the joint venture's plan to start a big-spending drilling program in the waters offshore Mauritania later this month or early next month.

Hardman director Scott Spencer said security crackdowns on what the Mauritanian Government considered subversive elements were not all that uncommon.

"We can't be sure but we are hopeful it will blow over fairly quickly," Mr Spencer said.

Woodside shares fell 30 to $18.69 yesterday, with the security scare in Mauritania more than offsetting the benefits flowing to the group from the surge in oil prices to record levels.

Hardman dived 33 to $1.97. Mauritania is the group's key asset. Roc, which has a much smaller interest in the project, was down 7 to $1.68.

The joint venture gave the go-ahead for the Chinguetti project in late May. First production is due in March 2006 and the partnership is in the early planning stages to follow it up with the development of the much bigger Tiof oilfield, possibly as early as mid-2007.

The interests of the Australian partners are: Woodside 53.846 per cent, Hardman 21.6 per cent, and Roc Oil 3.693 per cent.
END
AR

Dana bounced today, but HNR did not. The share price feels a bit fragile to me although there could of course be a big bounce around the corner. Perhaps it is because positive drilling news may be some way away (most being earmarked for 2005 and 2006).

rgrds
gk

The start of the drilling begins towards the end of this month. News flows will be come thick and fast. I have the feeling , and so IC and shares that this alone will drive the sp. As stated several times by IC and Shares and few weekend newspaper article. A safer blue sky and true potential than DES or even PCI. IMHO.

From oilbarrel.com today.

Sums up all our hopes and prospects.

Chances are better than 1 in 2 of finding more oil and or gas in Mauritannia.

Read the full report.



13.08.2004
Attempted Coup Jangles Investor Nerves But Mauritania Explorers Report
Business As Usual
Reports earlier this week of an attempted coup in Mauritania, the latest deepwater darling of the international oil industry, knocked the share prices of companies with heavy exposure to the North West African country. Among those to suffer from investor fright on Tuesday were London-listed Premier Oil, which slipped 4p to 595p, Hardman Resources, down 8.75p to 81.25p, and Dana Petroleum, which retreated 15.5p to 324p.

However, the fright was short lived. By Wednesday, the Mauritanian defence minister Baba Ould Sidi said the situation was under control.

"The attempted coup d'etat has been foiled and the putschists have been arrested, the minister said in a recorded message on state radio. Between 20 and 30 members of the army were reported to have been arrested.

The minister said the plotters were the very same people who led the aborted putsch in June last year" and that they had planned to topple President Maaouya Ould Sid'Ahmed Taya while he was away in France.

Tensions have edged up in the past year and the government has clamped down on Islamist groups, who remain highly critical of its diplomatic relations with Israel. The government blamed Islamists for the June 2003 coup attempt, which saw two days of fierce fighting in the capital Nouakchott in the most serious challenge to date to the rule of President Taya, who took power in a bloodless coup in December 1984. Some 120 soldiers are still being held in prison over that alleged plot.

Woodside Energy, the leader of the main exploration group in Mauritania, put out a statement on Wednesday to say that its staff and contractors in Mauritania had returned to work and resumed travel to the country.

The situation in the capital is described as calm with business continuing as normal, the company said.

Despite the inevitable flutter of investor nerves at news of the coup attempt, most observers agree that the business of developing and extracting Mauritanias black gold will be largely undisturbed by any onshore instability because the main oil and gas riches lie 75 km offshore. That has certainly been the case in Cote dIvoire where ongoing political turbulence has failed to disrupt its offshore production, or Angola, where multi-million dollar projects continued despite the long-running civil war, which ended in 2002, and in Nigeria it is the onshore oil supplies that suffer from sabotage and disruption - the country deepwater finds are unperturbed by the strife inland.

The main risk lies in any changes to the commercial terms which a new government might impose. Yet, as international explorers like to point out, even safe home-grown production can be subject to unexpected changes to the petroleum regime: British Chancellor Gordon Browns North Sea tax hike in 2002 being a case in point.

And the potential prize on offer is such that the oil companies are likely to remain committed to coup-prone Mauritania for many years yet to come. The assets are world-class in scale, with the proven and probable reserve base of the Chinguetti and Tiof oil deposits adding up to just over 100 million barrels and the Banda gas find also looking substantial. And it looks like theres plenty more where that came from: to date, exploration drilling by the Woodside-led joint venture has racked up a 100 per cent strike rate in the Miocene channel system - Ted Ellyard, the bullish managing director of Hardman Resources, reckons the risk factor on the Miocene prospects is now “better than a one in two chance of success - while Danas Pelican-1 gas find has also opened up the possibility of reserves outlying the core Woodside acreage.

Work is already underway to progress the Chinguetti find towards first production by the end of 2005 at a rate of 75,000 barrels per day. Tiof, which could dwarf Chinguetti in size, could be onstream 18 months later. Further exploration work this summer and autumn could well add further world-beating discoveries to Mauritanias rapidly growing oil and gas base.

Any ideas why this is falling out of bed?

No news.

This has become a Bear Share.

I am in for the ride, but I also need something to cheer me up now and then.

Go to their web site and download information brochure. Has details of 2004 drilling plans and activity. All looks positive, but don't they all. I to am in for the ride lets hope it's not too bumpy.

Got bored so I thought I would put this on.

Woodside are always very cagey with the drilling forecasts.

Remember the expected hit rate amongst the 21 wells is better than 2/1, some estimates are 8/10.



Woodside DJ:-

Warned on Weds of the risk of a dry hole as it prepares to kick off its $100m+ Mauritanian explo program.

CE told DJNW at the World Energy Congress in Sydney that the first well will test Dorade to the south of the existing Chinguetti and Tiof discoveries.

"We are highlighting that Dorade is a very high risk well.... and we think that it has a strong possibility of being a dry hole," "but if it does work it opens up a whole new area,"

Two drill ships contracted by Woodside arrive in Mauritania over the next few days.

"Thelast time I saw the schedule it was 9/9 and 11/9."

http://sg.biz.yahoo.com/040908/15/3mzea.html

Hardman Resources Limited
10 September 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 10 September 2004

CONTACT: Scott Spencer (08 9321 6881)

RE: MAURITANIA DRILLING PROGRAMME UPDATE


Hardman Resources Ltd ('Hardman' or 'the Company') is pleased to provide the
following information on the 2004 drilling programme offshore Mauritania.

As previously advised, two drilling vessels, the 'West Navigator' and the 'Stena
Tay' have been contracted to carry out the forthcoming drilling programme,
working in tandem and operating in water depths ranging from 300 metres to 1,700
metres. Both vessels are currently in transit and the 'West Navigator' is
expected to arrive on location on or about 11 September and the 'Stena Tay' is
expected to arrive on or about 15 September.

As previously reported the drilling programme is currently planned to include up
to twenty one wells, including a total of six exploration wells in PSC's A, B
and Block 2, four appraisal wells on the Tiof discovery and eleven Chinguetti
development wells. The final prospect selection and well drilling sequence will
be subject to change dependent on continuing technical work, initial drilling
results and operational issues. The presence of the two rigs also allows for
'batch drilling' wells - whereby one rig performs the same operation on a number
of wells in sequence rather than drilling a single well from top to bottom. The
second rig would then drill or complete the next section. The rigs work most
efficiently in this manner and this can result in very significant cost savings.

The programme is expected to begin with the 'West Navigator' drilling and casing
the 'top hole' sections on the Dorade-1 (PSC-2), Capitaine-1 and Tevet-1
exploration wells and a Tiof appraisal well (all in PSC B) before moving to the
Tiof-3 appraisal well which will then be drilled to total depth. The 'top hole'
section on these wells varies from approximately 600 metres to 1,000 metres of
drilled hole.

The planned Tiof appraisal programme includes 3 firm wells and a contingent
fourth appraisal well, subject to additional seismic and technical studies. We
expect that the Tiof-3 well will be completed and flow tested in a similar
manner to the successful Chinguetti 4-5 Early Development Well ('EDW').

To maintain the Chinguetti field development schedule and because of the late
arrival of the rigs, the 'Stena Tay' will, on arrival, drill a Chinguetti water
injection well before beginning the exploration programme. The 'Stena Tay' will
then move to the Tevet-1 well,which because of its proximity to Chinguetti is
now expected to be the first exploration prospect to be drilled to total depth.
We then expect the 'Stena Tay' to move to other exploration wells while the
'West Navigator' continues work on the Tiof programme.

Hardman intends to report progress of the drilling programme in its regular
weekly release every Tuesday morning with special releases as required.

Interests in the three production sharing contract areas that will be drilled
are:

Company PSC A PSC B PSC C2
Woodside group companies (operator) 53.846% 53.846% 48%
Hardman group companies 24.3% 21.6% 28.8%
BG group companies 13.084% 11.63%
Premier group companies 9.231%
Fusion Mauritania A Ltd* 4.615%
ROC Oil group companies 4.155% 3.693% 3.2%
Energy Africa 20%
* Premier has 29.9% interest in Fusion Mauritania A Ltd



SCOTT SPENCER
DIRECTOR

As a drilling engineer I can whole heartedly say that's some drilling campaign they've got planned there. You don't do that sort of work without being pretty sure whats below seabed!!

Good luck to them!

>> wypanb

As you know the score, can you tell me what it means when a well has been spudded?

rgrds
gk

Here is the latest RNS drilling report.

I must say I did not expect them to get so far ahead as this so quickly.

Hardman Resources Limited
14 September 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 14 September 2004

CONTACT: Ted Ellyard (08 9321 6881)

RE: MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT


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

Dorade-1, PSC C2

The Dorade-1 well in PSC Block C2 was spudded on 12 September 2004. The drilling
rig West Navigator will drill and case the top hole section of the well. The
bottom hole, comprising the target interval, will be drilled at a later date by
the Stena Tay, the second rig working on the Mauritania programme. At 08:00 WST
(Western Australian Standard Time) the surface conductor casing had been set at
1,770 metres depth. The current operation is running in the hole with 17 1/2'
drilling assembly.

Once the top hole casing has been set the well will be temporarily suspended and
the West Navigator will move to PSC B to drill the top hole sections of the
Tevet-1, Capitaine-1 and Tiof-4 wells.

The Dorade-1 well is located approximately 165 kilometres southwest of
Nouakchott, the Mauritanian capital, and 85 kilometres south of the Chinguetti
Field. Water depth is approximately 1,670 metres and the planned total depth of
the well is 2,660 metres.

Other information:

The Stena Tay is expected to arrive tomorrow (15 September) and will drill the
Chinguetti-8 water injection well before commencing work on the exploration
program.

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.

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

The 2004/05 drilling programme will include wells in three production sharing
contract areas (PSC's). Joint venture interests in those areas are:

Company PSC A PSC B PSC C2
Woodside group companies (operator) 53.846% 53.846% 48%
Hardman group companies 24.3% 21.6% 28.8%
BG group companies 13.084% 11.63%
Premier group companies 9.231%
Fusion Mauritania A Ltd 4.615%
ROC Oil group companies 4.155% 3.693% 3.2%
Energy Africa 20%





TED ELLYARD
MANAGING DIRECTOR

I was suprised at the amount of detail their going to regularly commit to sending out. This looks like a little step down from a full partner weekly drilling report!!!

Nice to see what you getting for your investment. Hope they keep it up!

Spud means when the bit hits seabed, basically the start of the well after completing the rig move.

Hardman has some nice stakes in Mauratania with good potential for growth i feel so lucky to have got on at 77.75 recently . The chart looks good and the trend is now up , with a lot of newsflow to come out now lets see the Australian championsWoodside do a great job.

Very tempting to top up my holding in HNR or cover with ANO which has a stake in the Mauritania drilling program such as SEY as also can't see how why so many companies would risk heavy investment unless prospect of significant returns.

Would a find here produce effects on sp similar to a CNE, bet we all hope it will!!

andysmith

A number of CNE investors who won on that deal have invested in SEY, and stated that they have done so in this and SEY 's bb.

I am not saying do it, that is up to you.

Time will tell.

Until everything that can be done is done, none of us really know what will happen.

If you come in, then may we all be fortunate.

If you dont, then watch from a position of neutality and either celebrate our good forune or weep for our bad luck.

You know we who have invested in this venture believe or we would not have done so.

Over to you!

And who the heck are ANO?

SWW,

A N other!