23/11/1999 - 21:00

Hardman tackles Africa

23/11/1999 - 21:00

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A PROGRAM of seismic exploration is planned by Hardman Resources NL and its partners after the company negotiated two hydrocarbon blocks off the West African coast.

Hardman tackles Africa
A PROGRAM of seismic exploration is planned by Hardman Resources NL and its partners after the company negotiated two hydrocarbon blocks off the West African coast.

The junior explorer has acquired a 12.86 per cent stake in two production sharing contracts with the Government of Gabon for exploration blocks Iris Marin and Themis Marin, which lie in coastal waters offshore southern Gabon in water depths of less than 50 metres.

The combined area of both blocks is some 2000 square kilometres and they are located within a proven and well-established petroleum province. This includes Shell’s onshore Gamba field and the offshore Lucinia producing oil field.

Under the terms of the agreement the joint venture partners must undertake an active exploration programme including the drilling of three wells.

The equity arrangements are Hardman (12.86 per cent), Fusion Oil and Gas NL (38.57 per cent), and operator Sunburnt Downs Pastoral Co Pty Ltd (25.71 per cent), Horizon Energy Pty Ltd (12.86 per cent) and Millennium Oil Corporation (10 per cent).

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