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!

Thank you.

Below is a link to Permier Oils interim results. Its got a great overview and drilling timeline of the Mauritanian prospects which Hardman is partner. Nice to see what we've bought in to!



http://www.premieroil.com/asp/uploads/uploadedfiles/2/263/2004_interim_results.pdf

Originally posted on another site by SirLurkalot

Where you bin Boy?
On de Moon?

The latest RNS, Ted Speaks...............

Confident sounding ain't he?

Hardman Resources Limited
22 September 2004




STOCK EXCHANGE / MEDIA RELEASE


RELEASE DATE: 22 September 2004

CONTACT: Ted Ellyard (08 9321 6881)

RE: OPEN BRIEFING

PAGES: 7


Enclosed is an Open Briefing with Managing Director Ted Ellyard, which has been
prepared by Corporate File for immediate release.



TED ELLYARD
MANAGING DIRECTOR


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.


Lodgement of Open Briefing

Hardman Resources Ltd
Ground Floor
5 Ord Street
West Perth WA 6005



Date of lodgement: 22-Sep-2004
Title: Open Briefing. Hardman. MD on Mauritanian Drilling

Record of interview:

corporatefile.com.au
Hardman Resources Ltd recently reported that the first well in the new
Mauritanian drilling programme, Dorade-1, spudded on 12 September. Your recent
ASX release stated that the drilling rig, West Navigator, will drill and case
the top hole section of the well and that the bottom hole, comprising the target
interval, will be drilled at a later date by the Stena Tay, the second rig
working on the programme. Can you explain why you're taking that approach? What
are the tangible benefits?

MD Ted Ellyard
By drilling a number of the Mauritania wells with both rigs, each drilling
different hole sections of the same well, we can expect to make a considerable
cost saving on the overall drilling budget. This drilling technique is commonly
known as 'batch drilling' and is only possible when a large drilling programme
is undertaken by multiple rigs. Typically, wells are drilled in stages at
different hole sizes starting at the surface in a large diameter of 36 inches
which is then cased and cemented to make the well safe, followed by the next
hole size of possibly 20 inch or 171/2 inch diameter for the next section and
then decreasing to generally a 121/4 inch or 81/2 inch hole diameter over the
deeper target section.

In our case, batch drilling will involve the West Navigator rig drilling the top
hole sections of a number of wells through to the base of the 171/2 inch hole
diameter section which is the first 600 to 1,000 metres. The well will then be
cased, cemented and suspended, whilst the rig moves onto the next well. In this
case the West Navigator rig will still be set up to drill the 171/2 inch well
section for the next well and therefore the rig crew will not need to change the
drilling equipment on the rig floor, which is a considerable saving in terms of
drill time and well cost. The second rig, the Stena Tay, will then move onto the
well some 2-3 weeks later and drill the bottom section of the well (including
the target zone) which will be drilled in 121/4 inch hole size. The second rig
will already be equipped to drill these smaller hole sizes again saving time and
cost. At this stage it is hard to quantify the actual cost saving for using the
batch drilling technique but we believe it will be considerable, compared to
previous Mauritania drilling campaigns.

corporatefile.com.au
Can you explain a possible sequence for both drilling rigs during the programme?

MD Ted Ellyard
The West Navigator commenced work on 12 September by drilling the top hole on
Dorade-1 (PSC Block 2), to be followed by the top hole sections for Capitaine-1,
Tevet-1 and Tiof-4. Once that sequence is complete it will move to the Tiof-3
appraisal well around the last week of September and drill that well to total
depth. We expect to core and test the Tiof-3 appraisal well which could take us
approximately 60 days.

The Stena Tay arrived last week and is currently drilling the first Chinguetti
water injection well which we expect to finish around the end of September. That
rig will then drill the bottom hole sections for Tevet-1, Dorade-1, Capitaine-1
and Tiof-4 throughout October and early November. Current plans also include the
Stena Tay drilling Merou-1 and Tiof-5 although the detailed sequence of the
latter part of the schedule may change. Once this sequence of wells is complete
in early December the Stena Tay will follow the West Navigator to Chinguetti.
Depending on how long the rigs take to perform the early part of the programme,
one or the other may drill other exploration or appraisal wells to ensure that
they arrive at Chinguetti at the right time not to interfere with each other.

The Chinguetti development well surface locations are clustered at three
separate 'drilling centres' so it is possible for both rigs to be working on the
field at the same time. The rigs will follow each other around the drilling
centres as the West Navigator drills the top holes, followed by the Stena Tay
drilling the bottom holes and then the West Navigator returning to perform the
downhole completion of the reservoir intervals before suspending the wells. We
expect that the Stena Tay will then become available to drill additional
appraisal or exploration wells in the second quarter 2005, whilst the West
Navigator completes the Chinguetti wells and installs the production tubing
ahead of the arrival of the FPSO in the third quarter 2005.

corporatefile.com.au
You've outlined the benefits of batch drilling. What about the downside? Can
anything go wrong with this approach relative to the approach you've taken to
drilling in previous years offshore Mauritania?

MD Ted Ellyard
A problem which could arise with batch drilling is re-entering the wells with
the second rig and possible problems in anchoring rigs in deep water. However,
the two drilling rigs being used for the 2004 campaign are both 'dynamically
positioned' which means that they stay on location with the use of several
thrusters controlled by satellite positioning and do not require anchoring. We
therefore do not envisage any problems with re-entering the wells and expect
that moving from one well to the next will be extremely efficient and quick.
However, the normal type of operational risk associated with drilling in deep
water will still apply and needs to be managed efficiently.

corporatefile.com.au
When do you expect to report the first meaningful results from the programme?

MD Ted Ellyard
The first significant results are likely to come as we drill the Tevet-1
bottomhole section during the first week of October. Around that time we should
also get the first results from the Tiof-3 appraisal well. Throughout October
and November we will be getting the results of most of the exploration and
appraisal wells.

corporatefile.com.au
On 10 September 2004, Hardman reported that 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. Can you outline your risk assessments for
the major exploration wells?

MD Ted Ellyard
The six exploration wells will have a different risk profile depending on
whether they are being drilled near the existing discoveries or in a yet
unproven part of the basin, however each of the wells in the Woodside operated
blocks will be testing Miocene aged sand channel systems in which we have
enjoyed 100% exploration success in the 2001, 2002 and 2003 campaigns. The six
wells comprise three wells in Area B, two wells in Area A and one well in Block
2. The lowest risk are the Area B wells as we will be drilling within the two
Miocene channels already proven to be oil and gas bearing by the Chinguetti,
Banda and Tiof discoveries.

The two wells in Area A will test new Miocene channel systems not previously
drilled and should therefore be considered higher risk prospects than in Area B.
However, we recognize a similar type of prospect on the 3D seismic in these
areas to the previous discoveries.

In Block 2 we are currently drilling the Dorade Prospect which again is a
Miocene channel system but located much further south and therefore higher risk
than both Areas A and B.

A further exploration well is planned in the Dana Petroleum operated Block 1
area in the south of the basin. However, due to the late arrival of the rigs
this well is most likely be drilled in early 2005 and will be known as Petrel-1.
It will test a higher risk Cretaceous aged channel system.

corporatefile.com.au
How proximate are the exploration wells to the Chinguetti, Tiof and Banda
discoveries? What would be considered an economic tie-back distance?

MD Ted Ellyard
In the Mauritania deep water a viable tie-back distance to connect additional
discoveries to an FPSO oil field development would generally be up to
20 kilometres. The three wells being drilled in Area B are located in the
vicinity of the previous discoveries but only the Tevet Prospect is being
considered as a tie-back candidate to the Chinguetti Field. The Tevet Prospect
is located less than 10 from the Chinguetti Field and if successful would be
able to provide additional oil production to the Chinguetti FPSO facility when
the Chinguetti peak oil production starts to decline possibly after two years.

Of the other wells in Area B, the Merou Prospect is located between 10 and
20 kilometres to the west of the Tiof West well and could be a tie-back to a
Tiof FPSO development or a stand alone oil development depending on the size of
any potential discovery. The Capitaine Prospect is located more than
20 kilometres to the west of Chinguetti and would probably be considered a
separate development if successful.

corporatefile.com.au
Can you give some detail on the exploration prospects that could follow the
approved exploration wells either in this programme or in future programmes?

MD Ted Ellyard
Success in any of the exploration wells drilled this year will further extend
the proven oil producing area defined by the three current Miocene channel
discoveries and provide the Joint Venture partners with confidence to drill low
risk prospects near to the new discovery. For example there are some large
prospects in the vicinity of the Merou and Capitaine Prospects that would be
high graded by a discovery in one of these wells and could be considered for
drilling in 2005. Similarly there are several prospects in Area A and Block 2
which would be considered to be low risk follow-up prospects if the 2004 wells
are successful.

Therefore, the exploration programme in 2005 and beyond will be very much
dependent on the outcomes from the current drilling campaign. However, it is
fair to say that we have many prospects defined in the basin from the extensive
3D seismic including additional Miocene and older Cretaceous sand prospects and
I therefore expect that the Joint Venture partners will have a large ongoing
exploration drilling programme for the next few years.

corporatefile.com.au
Tiof-1 and Tiof West (Hardman 21.6%) were drilled 8 kilometres apart and
therefore a wide range of reserves is possible. However, you consider that the
Tiof system has the potential to hold over 300 million barrels recoverable. The
Tiof appraisal drilling programme will include three firm wells and a contingent
fourth well. Can you describe the Tiof structure, as you currently understand
it, and the objectives of each of the appraisal wells?

MD Ted Ellyard
The Tiof field is located within an elongated Miocene channel sand system within
a buried canyon through which a large salt dome has penetrated. The oil field is
contained, by the boundaries of the sand canyon and by the salt dome structure.
The appraisal wells will confirm the extent of the field by drilling in a number
of locations to test the structural mapping and to calibrate the responses we
see on the 3D seismic. We believe those responses give us information about the
quality of the reservoir and the presence of oil and gas. The production test
will provide critical information about the potential production rates and the
size of the reservoir.

corporatefile.com.au
The Chinguetti development drilling programme comprises five production wells,
four water injector wells, a gas disposal well at the Banda gas discovery and
completion of the Chinguetti early development well drilled in 2003. Can you
explain the purpose of the gas disposal well at Banda?

MD Ted Ellyard
As is normal for a field of this type, oil production at Chinguetti will result
in the production of 'associated gas' - either from gas coming out of solution
or the field gas caps. In the past the accepted method for disposing of
associated gas was burning (or 'flaring'). This is no longer a practice accepted
by the industry in general or Woodside and Hardman because it results in
greenhouse gas emissions (CO2) and is a waste of potentially useful energy in
the future. In many cases this gas can be re-injected into the producing field,
but for Chinguetti the best option is to inject the gas into the Banda
reservoir. This relatively small addition to the Banda volume poses no risk to
the reservoir and could eventually be produced in the future.

corporatefile.com.au
What is the process, and valuation parameters, if the Mauritanian Government is
to exercise its option to back into any developments? What is the current
political and social climate after the Mauritanian Government arrested several
military personnel in August?

MD Ted Ellyard
The Mauritanian government has the right to back into the Chinguetti development
(and any subsequent field development, such as Tiof) at a level initially up to
12% and if the field achieves very high production rates the government can
eventually increase their interest up to 16%. There is a limited period of time
for them to make this decision and it obviously has serious financial and
manpower implications for them which they are working through at the moment.

As for the political and social climate, the situation in Mauritania has been
and remains calm with business as usual.

corporatefile.com.au
Thank you Ted.

For further information on Hardman Resources visit
www.hdr.com.au
or call Ted
Ellyard on 08 9321 6881.

For previous Open Briefings by Hardman Resources visit
www.corporatefile.com.au

Seawallwalker

Great posting. Why can't we get info like this from the rest of the oils like DES

MS

Wish I knew.

Hardman have always been very good at this.

Fortune favours all involved in the Mauritannia venture, i.e. PMO, SEY, TLW, ROC, BG. to name but a few as Hardman will keep them all updated.

This way we can track our good fortune or but out withjout losing the lot.

Still creeping up daily.

Back to it's high this week, I souldn't wonder

Hardman Resources Limited
28 September 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 28 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:

Tevet-1 Exploration Well

Progress and Current Status:
Since the last report (21 September 2004) the tophole section was drilled from
633 metres to 1,380 metres and the 13 3/8 inch casing was run and cemented. The
well was temporarily suspended, as planned, on 22 September. The drilling rig
West Navigator was used to drill the tophole section of the well.

Note: The bottom hole, comprising the target interval, will be drilled by the
Stena Tay, the second rig working on the Mauritania programme, and is expected
to commence following the suspension of Chinguetti-8 (see below).

Well Location:
The Tevet Prospect is located approximately 80 kilometres southwest of
Nouakchott, the Mauritanian capital, 10 kilometres northeast of the Chinguetti
Field and 10 kilometres west of the Banda oil and gas discovery. Water depth is
489 metres and the planned total depth of the well is approximately 2,690
meters.

Well Details:
The Tevet-1 exploration well is testing a structural/stratigraphic trap in sands
of the same Miocene channel fairway that comprise the reservoir at Chinguetti
and Banda. This main target is at approximately 2,515 metres depth.


Tiof-4 Appraisal Well

Progress and Current Status:
The Tiof-4 appraisal well was spudded on 23 September 2004 and the tophole
section was drilled and the 13 3/8 inch casing was run and cemented at 2,108
metres. The well was temporarily suspended, as planned, on 26 September.
The drilling rig West Navigator was used to drill the tophole 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.

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-4 well is located approximately 2.5 kilometres southwest of the discovery
well, Tiof-1. Water depth is 1,119 metres and the planned total depth of the
well is approximately 2,960 meters.

Well Details:
The Tiof-4 well is intended to appraise the Tiof oil discovery. The well will
further evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic. The primary oil reservoir target is prognosed at
approximately 2,680 metres depth.


Tiof-3 Appraisal Well

Progress and Current Status:
The Tiof-3 appraisal well was spudded by the West Navigator on 26 September 2004
and the tophole section was drilled to 2,150 metres. Current operation is
preparing to run casing. The West Navigator will drill this well to total depth.

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-3 well is located approximately 4 kilometres west of the Tiof-1 discovery
well. Water depth is 1,198 metres and the planned total depth of the well is
approximately 2,900 meters.

Well Details:
The Tiof-3 well is intended to appraise the Tiof oil discovery. The well will
further evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic. The primary oil reservoir target is prognosed at
approximately 2,720 metres depth.


Chinguetti-8 Development Well (Water Injector)

Progress and Current Status:
Since the last report the well was drilled to total depth of 3,100 metres
(measured depth) and wireline logs were run. After review of the logs it was
decided to suspend the well for future use in the field development. Current
operation is setting plugs prior to suspension. The Stena Tay rig is drilling
the Chinguetti-8 well.

Well Location:
The Chinguetti Oil Field is located approximately 90 kilometres southwest of
Nouakchott, the Mauritanian capital. Water depth at the well is 820 metres and
the planned total depth of the well is approximately 3,238 meters.

Well Details:
The Chinguetti-8 development well was drilled in a location downdip and west of
the Chinguetti-4-5 well and is intended as a water injector for pressure support
during production. This well is the first deviated well to be drilled on the
Chinguetti Field and successfully confirmed the drilling technique for the
future development wells.

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 well.

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

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 2
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

http://moneyam.uk-wire.com/cgi-bin/articles/200409281143134181D.html

refers to the financial staement.

too long for this thread.

http://www.gtp.com.au/hardman/inewsfiles/2004_Mauritania_drilling_locations_27_Sept_04.JPG

Hardman Resources Limited
05 October 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 5 October 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:

Tevet-1 Exploration Well - PSC B

Progress and Current Status:
Since the last report (28 September 2004) the Stena Tay rig arrived on location
on 30 September and the well was drilled from the 13 3/8 inch casing
(1,377 metres) to total depth of 2,715 metres. The current operation is running
wireline logs.

MWD (Measurement While Drilling) logs (see below) and initial wireline logs
indicate the presence of oil and gas bearing zones. Logging and evaluation,
including pressure and sample collection, is continuing and results will be
reported once that programme is completed and evaluated.

After completion of wireline logs, the well will be plugged and abandoned as
planned, and the Stena Tay will move to drill the bottom hole of the Dorade-1
well (PSC 2), containing the target interval.

Well Location:
The Tevet Prospect is located approximately 80 kilometres southwest of
Nouakchott, the Mauritanian capital, 10 kilometres northeast of the Chinguetti
Field and 10 kilometres west of the Banda oil and gas discovery. Water depth is
489 metres.

Well Details:
The Tevet-1 exploration well is testing a structural/stratigraphic trap in sands
of the same Miocene channel fairway that comprise the reservoir at Chinguetti
and Banda. This main target is at approximately 2,515 metres depth.

Tiof-3 Appraisal Well - PSC B

Progress and Current Status:
Since the last report (28 September 2004) operations continued with the West
Navigator rig and the 13 3/8 inch casing was run and cemented at 2,145 metres
depth. The well was then drilled to a total depth of 2,960 metres.

A preliminary assessment of the MWD logs (see below) indicates the presence of
oil in the target interval. The current operation is preparing to run logs after
which a sidetrack hole will be drilled to obtain core samples and test the
reservoir as planned. The results of the wireline logging will be reported once
that programme is completed and evaluated.

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-3 well is located approximately 4 kilometres west of the Tiof-1 discovery
well. Water depth is 1,198 metres.

Well Details:
The Tiof-3 well is intended to appraise the Tiof oil discovery. The well will
further evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic. The primary oil reservoir target is prognosed at
approximately 2,720 metres depth.

Other information:

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

MWD logs are recorded while drilling and, for various operational and technical
reasons, a full wireline logging suite may be required before reservoir quality
and hydrocarbon content can be confirmed.

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

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 2
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

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.