Hardman Announces First Cargo from Chinguetti

Hardman Resources reports that the first cargo of its share of production from the Chinguetti field offshore Mauritania has been loaded. The event represents a milestone for the company's operations in that region.

According to the company, the Suezmax tanker M/T Gandhar completed loading of just under 1 million barrels of Chinguetti crude oil (API approximately 28 degrees) on Tuesday for the pooled marketing group comprising Hardman (29.7 percent share), the Mauritanian Government entitlements, and other co-venturers. The cargo has been sold to Vitol at a price that is related to prevailing dated Brent prices.

Hardman says that the milestone represents the second cargo lifted from the field since first oil on February 25.