HDR hardman resources limited

HDR/BUY ANNOUNCEMENT

  1. 321 Posts.
    BOUNTY OIL & GAS NL 2002-05-15 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Bounty Oil & Gas NL provides the following progress report on the
    drilling of the Woodada #19 gas well.

    Please note that all Bounty ASX releases are now also available at
    www.bountyoil.com

    Period: 24 hours to 6am on 15/5/02.

    Current Depth: 2,819 mKB (depths are in metres below the Kelly
    Bushing on the rig floor).

    Progress: Drill ahead in 8(1/2) inch (216 mm) hole in Irwin River
    Coal Measures and into possible High Cliff Sandstone. Complete minor
    repairs. Presently preparing to drill ahead.

    Hydrocarbon indications: High background gas readings with occasional
    gas shows (up to 2.3% gas in drilling mud) in Irwin River Coal
    Measures. Increased background gas readings and occasional gas shows
    in High Cliff Sandstone. Shows comprise predominantly of C1 and trace
    C2, which are associated with coal beds.

    Previous Hydrocarbon Indications: Background gas in Carynginia Shale
    Formation

    Significant gas shows in Carynginia Limestone

    Background gas in Irwin River Coal Measures (up to 23% gas in
    drilling mud)

    Primary and Secondary Targets: Please refer to previous
 
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