Hardman Appoints New Chief Executive

Hardman Resources Limited has appointed Mr. Simon Potter as its new Chief Executive Officer (CEO) and Managing Director, with immediate effect.

Mr. Potter joins Hardman Resources from BP, and most recently, the joint venture (JV) operation between BP and Alfa Group in Russia, TNK-BP. As Chairman or CEO of a group of Russian subsidiary companies, Mr. Potter had overall charge of the Orenburg/Saratov division of the JV, a group of 150 fields between the Volga and the Russian border with Kazakhstan, which collectively produce 330,000 barrels per day. These companies refine 150,000 barrels per day and operate some 65 oil drilling rigs.

Alan Burns, Chairman and founder of Hardman Resources, commented:

"The Board is pleased to have secured Simon as CEO and Managing Director to lead our next growth phase. His appointment follows the Board's decision to conduct an extensive search and interview process among candidates of international calibre across the oil and gas industry. Simon's skills and contacts make a strong fit with Hardman's broad growth and expansion ambitions.

"On behalf of the Board, I should like to give our full thanks to Scott Spencer, Executive Director, for his thorough and effective stewardship of the company's affairs for a considerable period."

Simon Potter, CEO and Managing Director, Hardman Resources, commented:

"I am very pleased to be joining Hardman Resources. The company has strong core operating assets, an entrepreneurial spirit and a track record of delivering value growth for shareholders. I look forward to working with my new colleagues to build on this record and to enhance the company's growth profile in the coming years."