Hardman Issues Update on Aigrette-1 in Mauritania


Mauritania, Block 7
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Hardman Resources Limited said that the Aigrette-1 exploration well in Block 7 offshore Mauritania was drilled in the 8 1/2 inch hole section to a depth of 4,803 meters.

Preliminary interpretation of the drilling data and an intermediate wireline logging program indicated the presence of hydrocarbon-bearing sandstones within the Cretaceous target zone. From pressure testing and fluid sampling, a hydrocarbon column of approximately 20 meters gross has been confirmed. A sample recovered from this interval indicates the presence of oil. The composition of the samples will not be finally determined until they have been fully analyzed.

Given this technically encouraging result, and in order to continue exploration of the Cretaceous section, the well is therefore being deepened to a revised total depth of 5,154 meters. The current operation as of midnight local time on 27 November was continuing to drill 81/2 inch hole section at a depth of 5,006 meters. Aigrette-1 is located in a water depth of 1,380 meters approximately 43 km north, northwest of the 2003 Pelican-1 gas discovery.

Equities in Block 7 are:

--Dana Petroleum (Operator), 36%
--Gaz de France, 27.85%
--Hardman Resources Ltd, 16.2%
--Woodside, 15%
--Roc Oil Company, 4.95%

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