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hardman shares jump

  1. angers

    3,559 Posts.

    Oil and gas producer Hardman Resources jumped 6.6 percent to two-week highs of A$1.30 as investors cheered news that Britain's Dana Petroleum has made a natural gas find off the Mauritania cost, an area that Hardman is active in.

    The find could almost double the Dana's reserves and open up new opportunity in Mauritanian gas.

    Hardman recently launch a share placement and entitlement issue to raise a total of about A$167 million ($129 million) for exploration and appraisal programmes in Mauritania, among other projects.

    Hardman said industry analysts are increasingly viewing offshore Mauritania as a new West African petroleum province, with boundaries not yet established.

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