HDR hardman resources limited

fridays report

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    RELEASE DATE: 3 May 2002




    TO: Manager, Company Announcements
    Australian Stock Exchange Limited



    CONTACT: Kathryn Davies (08 9321 6881)



    RE: PROGRESS REPORT FOR WOODADA #19 WELL

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

    Dear Sir/Madam

    Hardman Resources Ltd provides the following progress report on the drilling of the Woodada #19 gas well. The well is being drilled within the Woodada Production Licence (PL 5) located approximately 260 kilometres north of Perth, Western Australia. Further details are:

    Progress: (Last 24 hours to 06:00 hours 3/5/02)

    Current depth of 2,144 metres KB. Drill 8 1/2 inch (216mm) hole size from 2,064 metres to 2,144 metres. Pulling out of hole for bit change.

    Geology and Hydrocarbon Shows:

    Background gas shows in Basal Kockatea Formation.

    Well Location:

    Located to intersect primary reservoir target approximately 700 metres west of the Woodada #8 gas production well.

    Primary Target:

    Gas producing zones within Carynginia Limestone at approximately 2,200 metres depth.

    Secondary Targets:


    Sandstone within basal Carynginia Formation (between 2,400 metres to 2,500 metres depth), below the Carynginia Limestone Gas Reservoir.

    Sandstones within the Irwin River Coal Measures, between 2,530 metres to 2,800 metres depth.

    High Cliff Sandstone (if present) at about 2,820 metres depth.
    Note: These secondary objectives below the producing gas reservoir of the Woodada Gas Field have not previously been tested.

    Drilling of Woodada #19 commenced on 11 April 2002. A period of 25 days has been estimated for the completion of drilling and testing operations at Woodada #19 to an approximate total depth of 2,900 metres.

    Participants:

    Hardman Resources Ltd 75%
    Bounty Oil & Gas NL 25%

    Yours faithfully
    HARDMAN RESOURCES LTD

    KATHRYN DAVIES
    COMPANY SECRETARY AND
    CHIEF FINANCIAL OFFICER

    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
 
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