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Hardman to Spud Waraga-1 Well, Uganda

Source: www.gulfoilandgas.com 2/7/2006, Location: Africa

hardman Resources Ltd Announced that the Mobilisation of the drilling rig from the Mputa-1 location has been completed with the last loads arriving at the Waraga-1 well site on 31 January. Rig up at Waraga-1 location is approximately 70% complete. The well is expected to spud within the next week. Waraga-1 has a planned total depth of approximately 1,850 metres and will test a structural prospect with identical geological targets to the oil bearing reservoirs seen at Mputa-1.

The well is located 19 kilometres to the northeast of the recently drilled Mputa-1 oil discovery well and 41 kilometres southwest of the Butiaba Waki-1 well (drilled in 1938). The Waraga prospect was defined by the 2005 onshore seismic survey and the geological risk has been significantly reduced by the success of Mputa-1.

Equities in Block 2 are:
Hardman Petroleum Africa Pty Ltd (Operator) 50.0%
Tullow Oil 50.0%

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