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Hardman Provides Aigrette-1 Exploration Well Drilling Update

Source: www.gulfoilandgas.com 11/28/2006, Location: Africa

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Further to our last drilling report, the Aigrette-1 exploration well in Block 7 was drilled in the 8 inch hole section to a depth of 4,803 metres. Preliminary interpretation of the drilling data and an intermediate wireline logging programme indicated the presence of hydrocarbon bearing sandstones within the Cretaceous target zone. From pressure testing and fluid sampling, a hydrocarbon column of approximately 20 metres gross has been confirmed. A sample recovered from this interval indicates the presence of oil. The composition of the samples will not be finally determined until they have been fully analysed.

Given this technically encouraging result, and in order to continue exploration of the Cretaceous section, the well is therefore being deepened to a revised Total Depth of 5,154 metres. The current operation as of midnight on 27 November was continuing to drill 8 inch hole section at a depth of 5,006 metres.

Aigrette-1 is located in a water depth of 1,380 metres approximately 43 km north, northwest of the 2003 Pelican-1 gas discovery.

Equities in Block 7 are:
Dana Petroleum (Operator) 36.00%
Gaz de France 27.85%
Hardman Resources Ltd 16.20%
Woodside 15.00%
Roc Oil Company 4.95%

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