Hardman to Spud Waraga-1 Soon

Mobilization of the drilling rig from the Mputa-1 location in Uganda has been completed with the last loads arriving at the Waraga-1 well site on January 31st. Rig up at Waraga-1 location is approximately 70% complete. The well is expected to spud within the next week.

Waraga-1 has a planned total depth of approximately 1,850 meters and will test a structural prospect with identical geological targets to the oil bearing reservoirs seen at Mputa-1. The well is located 19 kilometers to the northeast of the recently drilled Mputa-1 oil discovery well and 41 kilometers southwest of the Butiaba Waki-1 well (drilled in 1938). The Waraga prospect was defined by the 2005 onshore seismic survey and the geological risk has been significantly reduced by the success of Mputa-1.

Equities in Block 2 are Hardman Petroleum Africa Pty Ltd as operator with 50% and Tullow Oil with the remaining 50%.