RNS Number:8767T
Hardman Resources Limited
06 January 2004

HARDMAN RESOURCES LTD

Ground Floor, 5 Ord Street, West Perth

PO Box 869, West Perth

Western Australia 6872

Tel: +61 8 9321 6881 Fax: +61 8 9321 2375

ABN 98 009 210 235





STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 6 January 2004

CONTACT:           Ted Ellyard (08 9321 6881)

RE:                DECLARATION OF COMMERCIALITY FOR CHINGUETTI OIL FIELD,                                
                   MAURITANIA





Hardman Resources Ltd ("Hardman") is pleased to advise that the PSC Area B joint
venture has voted unanimously in favour of a "Declaration of Commerciality" for
the Chinguetti Oil Field, offshore Mauritania.  The joint venture's decision on
commerciality was in line with the project schedule and was a key milestone
towards the venture making by mid-2004, a final investment decision and awarding
major contracts for the development.  The operator Woodside has stated that "Our
assessment of recent appraisal and development drilling, reservoir
characteristics and technical data gives us greater confidence that Chinguetti
can be developed with first oil in late 2005-early 2006".



The Chinguetti-1 discovery well was the first of two farmin wells drilled by
Woodside and Agip/ENI in 2001.  Two appraisal wells were drilled on the field in
2002 and the Chinguetti 4-5 Early Development Well was drilled and completed for
production in September/October 2003.  During production testing of the well,
oil flow rates of over 15,000 barrels per day were achieved.



Prior to the Chinguetti 4-5 well, Hardman's internal estimate of the size of
Chinguetti Field had indicated a P50 estimate of 125 million barrels and a mean
estimated recoverable reserve of 142 million barrels.  The Chinguetti Field
reserves and development plan are currently being reviewed by the US based
independent consulting firm Netherland Sewell and Associates, as a requirement
for the project financing by ANZ Investment Bank for Hardman's share of the
Chinguetti development cost.  This reserve certification is expected to be
completed in late January 2004.



In addition to the Chinguetti oil discovery in 2001, Hardman has made further
discoveries in Mauritania; the Banda oil and gas discovery in 2002 and the Tiof
and Tiof West oil discoveries in 2003, plus the recently announced Pelican-1 gas
discovery in Block 7.



In December 2003, Hardman entered into an agreement to purchase a pro-rata
entitlement share of Agip Mauritania BV's 35% interest in PSC Areas A and B,
offshore Mauritania.  Hardman's equity in Areas A and B will increase to 37.38%
and 33.23% respectively and is a result of the non-Agip joint venture partners
pre-empting a proposed sale of the Agip stake to a major international oil
company.  The acquisition of the additional interest is expected to be closed in
Q1, 2004 with the following joint venture equity distribution:


Company                              PSC A                    PSC B
                             Pre-sale    Post-sale    Pre-sale    Post-sale

                                 %           %            %           %
Woodside                        35         53.846        35         53.846
Agip Mauritania BV              35           -           35           -
Hardman Resources              24.3        37.384       21.6        33.23
Fusion Mauritania A              3         4.615          -           -
Fusion Mauritania B              -           -            6         9.231
Roc Oil                         2.7        4.155         2.4        3.693







TED ELLYARD

MANAGING DIRECTOR



Note:  In accordance with Australian Stock Exchange Limited listing
requirements, the geological information supplied in this report has been based
on information provided by geologists who have had in excess of five years
experience in their field of activity.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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