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.

This is even better.........

Australia's Woodside finds indications of more oil off Mauritania coast
AFX


SYDNEY (AFX) - Woodside Petroleum Ltd said drilling at its Tevet-1 exploration well off the coast of Mauritania in West Africa have shown signs of oil and gas.

The company, about 34 pct owned by Shell, said wireline logs run from the Stena Tay rig drilling Tevet-1 indicated the presence of oil and gas bearing zones.

It said logging and evaluation, including pressure and sample collection, is continuing and results will be reported once that program is completed and evaluated.

Located about 10 kms northeast of the Woodside operated Chinguetti oil project now being developed, Tevit is the first exploration well in a current 100 usd exploration program off the Mauritanian coast which is targeting 1.3 mln barrels of oil in six new prospects.

Woodside owns 53.846 pct of Tevet-1 and is the operator. Australian listed Hardman Resources Ltd has 21.6 pct, Roc Oil, also listed in Australia, has 3.693 pct, BG Group Plc of the UK has 11.63 pct and the UK's Premier group of companies have 9.231 pct.

Woodside also reported the drill ship West Navigator, has run wireline logs indicating the presence of oil at the Tiof-3 appraisal well within the target zone.

The exploration and production company has said the Tiof field has the potential to be as big as the Chinguetti oil project which has gross reserves of 120 mln barrels of oil.

Blue skies, shining on me.
Nothing but Blue Skies...........

The diary shows a trading statement was due for release today.Have I missed something? I've only seen drilling reports.Will we have more good news tomorrow?

sandrew64,

I was only expecting a rilling report, haven't seen a mention of a trading statement.

The drilling is where the excitment is, with a high oil price I would expect any trading statement to be positive personally.

Looks like it's up today so I will still hold.

;-)

Looks like it's up today so I will still hold.

;-)

New highs today. Looks like the rocketing Brent Crude is pushing the price up.

Share Whisper: HARDMAN RESOURCES rose yesterday as speculators bet on more good news from its offshore Mauritanian sites in West Africa)

That'll be why!

Anyone know a reason for the large sells today? Not doing the sp any favours.

Look to buy, I am around 90p or less!

The volumes are low, maybe MM antics. me thinks

Morning all.

SWW,

well not a good one, that's for sure!

Price down 3p already, does anyone wknow if there's any bad news out there, or is this just being walked down on no news?

Interestingly, most oil related stocks are having down days, even the FOGL float hasn't soared like many of us thought.

Rumour was yesterday that dorade was dry.

That was expected, but when PRE had a dry one at High Island A68 the price dropped by 5% then came back to previous levels.

Doarde was expected to be dry, and was identified as high risk before the drilling started so why the market should be surprised if that is so defeats me.

Never mind, 16 more drills to go and this is the only one so far.

Corner turned here in my opinion.

SWW,

Hope so!

It would probably have been better to drill one of the better prospects first, before the high risk one, but I guess their plan doesn't take into account short temr fluctuations on the LSE or ASX!

Andy - I was concered when I saw the drilling schedule as I thought it may dip the prices at the wrong end of the campaign, but then brigther and better minds worked on this before I ever saw it.

I suppose we must accept the judgement to do the risky one first as being the better deal.

'Course if you are holding till either the end of the campaign, or the evalutiuon period or the production phase, little things like this don't really matter.

I must admit to profit sweeping when it hit 97p, and buying back in on the cheap this morning, but I really do not anticipate doing that too often with this stock.

Should have said what appears on the cheap this morning!

;-)

Do you know on my watch list, these and SEY are the only blues today!

Amazing.