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Hardman Provides Aigrette-1 Exploration Well Drilling Update

Source: www.gulfoilandgas.com 12/5/2006, Location: Africa

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Since the company’s last report, the Atwood Hunter has drilled the Aigrette-1 exploration well to a total depth of 5,152 metres in a water depth of approximately 1,358 metres. A comprehensive programme of wireline logging, pressure measurement, fluid sampling and sidewall coring was undertaken to maximise the information from the well.

Aigrette-1 discovered oil in the targeted Cretaceous sandstones, and downhole pressure measurements and fluid samples confirmed a 20 metre oil column was present in good quality Cretaceous age reservoir sands. The discovery of an oil bearing reservoir horizon led to the decision to deepen the well beyond its original planned total depth of around 4,900 metres. Although further sands were encountered in this deepened section, these were not found to be oil bearing at this location. As of midnight 4 December, preparations were underway to plug and abandon the well.

Simon Potter, CEO and Managing Director, commented: “The discovery of oil in the Cretaceous zone in Block 7 extends the oil fairway within the northern region of Mauritania, and while not likely to be commercially significant at this location, it offers encouragement for future exploration within this still relatively new oil province.”

Equities in Block 7 are:
Dana Petroleum (Operator) 36.00%
Gaz de France 27.85%
Hardman Resources Ltd 16.20%

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