Mauritania Drilling Report
November 04 2003 - 2:01AM
UK Regulatory
RNS Number:6325R
Hardman Resources Limited
04 November 2003
HARDMAN RESOURCES LTD
Ground Floor, 5 Ord Street, West Perth
PO Box 869, West Perth
Western Australia 6872
Tel: +61 8 9321 6881 Fax: +61 8 9321 2375
ABN 98 009 210 235
STOCK EXCHANGE / MEDIA RELEASE
RELEASE DATE: 4 November 2003
CONTACT: Ted Ellyard (08 9321 6881)
RE: OFFSHORE MAURITANIA WEEKLY DRILLING UPDATE
Hardman Resources Ltd ("Hardman") provides the following weekly progress report
on the drilling and testing operations in offshore Mauritania:
Tiof Exploration Well
The Tiof exploration well (Chinguetti 4-6 Tiof) located in PSC Area B was
spudded (commenced drilling) on 28 October 2003.
Progress: Since spudding the well, an 18 inch hole was drilled to 1,933
metres, the 13-3/8 inch casing was run and cemented and the
blowout preventers were installed. At 0800 hours (Aust WST) on
4 November, a 121/4 inch hole had been drilled to 2,237 metres
depth.
Geology &
Hydrocarbon
Shows: Hydrocarbon shows will only be reported after wireline logs have
been run and evaluated at total depth of the well.
Well Location: The Tiof exploration well is being drilled with the drillship
"West Navigator" which arrived in Mauritanian waters in late
October. The well is located approximately 25 kilometres north
of the Chinguetti Oil Field, 90 kilometres west of Nouakchott,
the capital of Mauritania. Water depth at the Tiof well
location is approximately 1,080 metres and the planned total
depth is 2,900 metres.
Prospect
Details: The Tiof exploration well is testing an independent structural
closure within a Miocene channel sandstone system, believed to
be of similar age to the oil and gas reservoir at Chinguetti and
Banda. The Tiof Prospect is adjacent to and associated with a
salt diaper. The Tiof Prospect has an Estimated Mean Reserve
Volume of 150 million barrels recoverable.
Chinguetti 4-5 Appraisal and Early Development Well
At 0800 hours (Australian WST) on 4 November 2003, production testing operations
were continuing in the Chinguetti 4-5 combined appraisal and early development
well.
Since the last report (28 October 2003) the production string was being
recovered to surface. The well testing operations consisted of a main flow
period of approximately six days, a sampling flow period and a pressure build up
test. During the main flow period the well produced at a steady production rate
of approximately 11,500 bopd on a 72/64 inch choke size but was produced at
higher rates of up to 15,680 bopd on larger choke sizes. Approximately 77,000
barrels of oil were produced during testing operations.
The well will be suspended as a potential future oil production well subject to
completion of the well test analysis and subsequent decision on the field
commerciality by the joint venture partners.
Participants in the Chinguetti 4-5 well and PSC Area B are:
Woodside Mauritania Pty Ltd (Operator) 35.0%
AGIP Mauritania BV 35.0%
Hardman Resources Ltd 21.6%
Fusion Mauritania B Limited 6.0%
Roc Oil (Mauritania) Company 2.4%
TED ELLYARD
MANAGING DIRECTOR
Note: In accordance with Australian Stock Exchange Limited listing
requirements, the geological information supplied in this report has been based
on information provided by geologists who have had in excess of five years
experience in their field of activity.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLGDBDBRXGGGXS