| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: OIL & GAS PRODUCERS |
Hardman upbeat over Ugandan well |
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Tue 22 Aug 2006
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LONDON (SHARECAST) - Hardman Resources announced it flowed 820 barrels of oil per day from an exploration well in Uganda, which it jointly owns with Tullow Oil.
The latest test at the Mputa-1 discovery well in block 2 was at the upper zone.
"The test results prove not only that the oil at Mputa is mobile, but also that the reservoir sands are capable of producing dry oil under natural flow at potentially commercial rates," said Hardman.
Hardman's CEO Simon Potter said: "The positive test results from Mputa are particularly important given that we map more oil in place in this resource than at Waraga. Natural flow from the reservoir at these pressures and temperatures are indicative that production rates could potentially be commercial"
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