HDR hardman resources limited

Woodada update, 26/4/2002

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    STOCK EXCHANGE RELEASE



    RELEASE DATE: 26 April 2002


    TO: London Stock Exchange Limited



    CONTACT: Scott Spencer (08 9321 6881)



    RE: PROGRESS REPORT FOR WOODADA #19 WELL



    PAGES: 2


    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:



    (Last 48 hours to 06:00 hours 26/4/02)

    Progress: Current depth of 1,513 metres KB. Drill out casing cement and running in hole with new bit. Preparing to drill ahead in 8 ½ inch (216 mm) hole size.


    Geology and

    Hydrocarbon Shows: Background gas shows in 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 meters 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 sincerely

    HARDMAN RESOURCES LTD









    SCOTT SPENCER

    DIRECTOR


 
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