Hardman Resources Commences Drilling Leafcutter-1 Well

Drilling has commenced at the Leafcutter-1 exploration well. The well will test the upthrown (high) block of the Beagle Ridge west of the Woodada Gas Field. The primary target is the Permian High Cliff Sandstone at a depth of approximately 1,315 meters. Secondary targets include sandstones within the Irwin River Coal Measures and a sandstone and/or limestone within the Carynginia Formation. These objectives have not previously been tested by drilling on the Beagle Ridge within the onshore Woodada license area. The well is located approximately 8 kilometers west of the Woodada-19 gas production well within the Woodada Production License (L4), approximately 260 kilometers north of Perth, Western Australia.

The well is expected to take sixteen days to complete and test and will be drilled to a total depth of 1,400 meters. Participants in the well are Hardman Resources with 75% and Bounty Oil & Gas with the remaining 75%.