HDR hardman resources limited

ARQ`s Update on Hovea Appraisal Well Timing

  1. 2,099 Posts.
    Looks like the drill rig is going to be on site,Woodada19, till the 28th may,another 7 days.
    Why hang around so long when the drilling is all but finished.

    Announcement from the ASX,21/5/2002. HDR

    Document date: Tue 21 May 2002 Published: Tue 21 May 2002 19:21:17
    Document No: 216556 Document part: A
    Market Flag: N
    Classification: Progress Report - Other
    ARC ENERGY NL 2002-05-21 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    The Hovea joint venture partners (ARC Energy NL (50%) and Origin
    Energy Developments Pty Limited (Origin) (50%)) (JV) have now
    commenced construction of the Hovea 2 well pad and are close to
    finalisation of the well plan.

    The Century drilling rig, which is to be used to drill the Hovea 2
    well, is currently drilling the Woodada 19 well for Hardman Resources
    Ltd. The Hovea JV will take the rig on the completion of this well.
    This is now expected to be early next week due to the Woodada 19 well
    taking considerably longer than programmed including the running of
    several drill stem tests (DST's). At the completion of Woodada 19 the
    rig will be moved to the Hovea 2 location.

    The anticipated timing of the spud date for Hovea 2 is therefore as
    set out below.

    Rig release from Woodada 19: 28 May 2002
    Moving/Rig up and rig inspection time at Hovea 2: 10 days
    Current most likely spud date for Hovea 2: 7 June 2002




    FURTHER INFORMATION

    It is anticipated that further information on timing, the proposed
    well plan and anticipated drilling times will be made available later
    this week.

    Further information may be obtained from the Company's website at
    www.arcenergy.com.au or by calling Eric Streitberg, the Managing
    Director on Freecall 1 800 337 330.

    E Streitberg
    MANAGING DIRECTOR

    --------------------------------------------------------------------------------


 
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