Hardman bids for Caribbean blocks

EVEN though shareholders must soon decide whether Hardman Resources will close its doors for good, it has not stopped the frontier explorer from putting up its hand up for two exploration blocks in Trinidad.
Hardman bids for Caribbean blocks Hardman bids for Caribbean blocks Hardman bids for Caribbean blocks Hardman bids for Caribbean blocks Hardman bids for Caribbean blocks

Under the Caribbean island nation’s sixth exploration licensing round, Hardman teamed up with UK-based multinational oil giant Centrica to bid for offshore Block 2a/b, while on its own it submitted a bid for the onshore/offshore Block Guayaguayare.

Both of these blocks are adjacent to significant producing areas, according to Hardman, adding that Trinidad has a prolific history of both oil and gas production.

Production sharing contract terms include the carried participation of state-owned oil company, Petrotrin, through the initial exploration phase.

The forward process includes a series of technical presentations to the Ministry of Energy, after which shortlisted parties are expected to be notified during the first quarter of next year.

Hardman is no stranger to the South American region, where it holds offshore permits surrounding Guyane (also known as French Guinea), the Falklands and Suriname (formerly known as Dutch Guiana).

The company’s shareholders will vote on the $1.47 billion friendly takeover offer by Tullow Oil in two weeks’ time on Monday, December 18.

If successful, Hardman will stop trading on the Australian Stock Exchange two days later.

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