Colin-1 Wildcat Spudded Offshore Mauritania

Hardman Resources said that the first well in its 2006/2007 Mauritanian exploration campaign, Colin-1, was spudded at 6 p.m. GMT on July 21, 2006, using the Atwood Hunter drill rig. The water depth at the location is 168m, and the planned total depth of the well is 2,300m.

At a depth of 254m a 36-inch conductor was set and cemented in place. Current operations are drilling ahead in the 18.5-inch hole section to the intermediate casing point, and at midnight on the 24th July the well was at 920m drilled depth.

Colin-1 is targeting a Miocene channel system of slightly younger age than the Chinguetti and Tiof fairways. The prospect is located approximately 60km south of the Chinguetti field. It is a stratigraphically trapped, incised canyon sand system with amplitude support.

The Colin prospect has a mean potential of some 170 million barrels of recoverable oil (gross), with follow-up potential in older canyon systems below the Colin Miocene channel and in adjacent channel fairways.

Equities in PSC A Block 3 are:

--Woodside Group (operator) 53.846%
--Hardman Group 24.300%
--BG Group 13.084%
--Fusion Mauritania A Ltd 3.000%
--Premier Oil Group 1.615%
--ROC Oil Group 4.155%

All reported depths (except water depth) are referenced to the rig rotary table (RT). Hydrocarbon shows will be only be reported after all required logs have been run and evaluated, although Hardman will release weekly updates on the exploration drilling campaign.

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