Hardman's New Seismic Data Shows Potential Offshore Guyane

Hardman Resources says that new technical evaluation and mapping of the new 2D seismic survey performed earlier this year offshore French Guiana has confirmed the presence of large prospects and a thicker sedimentary sequence than previously recognized. The 7,500 kilometer 2D survey was completed in mid-February of this year.

Hardman is the operator and holds 97.5% equity in the Exclusive Exploration License ("EEL") offshore Guyane (French Guiana), which was awarded on June 1, 2001. The license covers the major part of the offshore basin of Guyane and extends from the twelve-mile coastal limit to the 3,000-meter water depth contour with a total area of approximately 65,000 square kilometers.

The fully processed survey was delivered towards the end of June and the data is now being mapped and interpreted by Hardman's technical team. The new seismic is of excellent quality and has confirmed the existence of a thicker sedimentary section in the basin and indicated structuring in these deeper sediments which was not visible on the 1970s seismic data. The technical work has confirmed the major structural trends of the area and a number of leads have been identified.

During October, company representatives met with the relevant authorities in Paris and Cayenne (Guyane) to update them on Hardman’s progress on the seismic acquisition and interpretation work. Presentations were also made to various interest groups in Guyane. The project has also been presented to a limited number of potential farmin partners and several are now undertaking a technical evaluation.