Tiof West Oil Discovery
December 16 2003 - 2:01AM
UK Regulatory
RNS Number:2938T
Hardman Resources Limited
16 December 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: 16 December 2003
CONTACT: Ted Ellyard (08 9321 6881)
RE: TIOF WEST OIL DISCOVERY AND
MAURITANIA DRILLING UPDATE
Hardman Resources Ltd ("Hardman") provides the following weekly progress report
on the drilling and testing operations in offshore Mauritania:
Tiof West Exploration Well (PSC Area B)
Hardman is pleased to advise that a significant oil discovery has been made at
the Tiof West exploration well, located approximately 8 kilometres to the west
of the initial Tiof-1 discovery well.
Progress: The Tiof West exploration well was spudded on 8 December
by the drillship "West Navigator".
Since the last report (9 December) the well was drilled to
2,127 metres in an 18 inch hole, 133/8 inch casing was run
and cemented, Blow Out Preventers were run and installed
and a 121/4 inch hole was drilled to well total depth of
2,991 metres. Wireline logs were then run and RCI pressure
measurements and fluid samples obtained from zones of
interest.
At 0800 hours (Australian WST) on 16 December 2003,
wireline logging operations were continuing and on
completion of these operations the well will be plugged
and abandon as planned.
Hydrocarbon Shows: Preliminary evaluation of wireline logs and pressure data
acquired from the Tiof West step-out exploration well
indicates a gas column of approximately 4 metres overlying
a gross oil column of approximately 122 metres. Water
bearing sands have been confirmed below the hydrocarbon
bearing interval.
The top of the hydrocarbon bearing interval was
intersected down-dip from the top of the hydrocarbon
bearing interval in the Tiof-1 discovery well (i.e. Tiof
West has intersected a deeper oil column than Tiof-1).
Preliminary analysis of the pressure data indicates that
the oil column is likely to be in direct pressure
communication with the oil column intersected in the
Tiof-1 well.
Further appraisal drilling will be required to assess the significance of the
two wells and to verify connectivity and the net to gross of the reservoir
section.
Prospect Details: The Tiof West well was drilled to test the western
extension of the Miocene channel system which was found to
contain oil and gas bearing sandstones over a confirmed
gross hydrocarbon interval of at least 88 metres in the
Tiof-1 well. The Tiof West well is located approximately
8 kilometres from the Tiof-1 discovery well drilled near
the structural crest. Tiof West is therefore considered
to be a significant step out to evaluate the extent and
hydrocarbon bearing potential of the Tiof Miocene channel
sandstones. Water depth at the Tiof West location is
1,320 metres.
Note: All reported depths (except water depth) are referenced to the rig
rotary table.
Participants in the Tiof West exploration 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%
Pelican-1 Exploration Well (Block 7)
Progress: The Pelican-1 exploration well was spudded (commenced
drilling) on 30 November 2003. Since the last report
(9 December), the Blow Out Preventers were run and
connected to the 20 inch casing at a depth of 2,591 metres
and a 171/2 inch hole was drilled to 3,213 metres depth.
At 0800 hours (Australian WST) on 16 December 2003
drilling was continuing in 171/2 inch hole size to the
next casing depth at approximately 3,450 metres.
Well Location: The Pelican Prospect is located approximately 150
kilometres north of the Chinguetti Oil Field in PSC Block
7. The well, which is in approximately 1,700 metres water
depth, is planned to be drilled to a total depth of about
3,800 metres (includes water depth).
Prospect Details: The Pelican-1 exploration well will test a large
structural closure with multiple objectives within the
Tertiary and Upper Cretaceous sequences.
Note: All reported depths (except water depth) are referenced to the rig
rotary table.
The Pelican-1 exploration well is being drilled by the drillship "Jack Ryan"
which has remained in Mauritanian waters since completing production testing of
the Chinguetti 4-5 Early Development Well. Woodside Energy Limited is managing
the drilling of the well on behalf of the Block 7 operator, Dana Petroleum plc.
Participants in the Pelican-1 exploration well and PSC Block 7 are:
Dana Petroleum plc Ltd (Operator) 80.0%
Hardman Resources Ltd 18.0%
Roc Oil (Mauritania) Company 2.0%
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
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