Woodside sells its Hardman Resources shares

Woodside Petroleum Ltd. said its subsidiary, Woodside Mauritania Investments Pty. Ltd., sold its 67.4 million shares of Hardman Resources Ltd. for $118.3 million (Aus.) to Deutsche Securities Australia Ltd. for placement in the market. The shareholding represents a 10% interest in Hardman Resources.

Dec. 5, 2005

By OGJ editors
HOUSTON, Dec. 5 -- Woodside Petroleum Ltd. said its subsidiary, Woodside Mauritania Investments Pty. Ltd., sold its 67.4 million shares of Hardman Resources Ltd. for $118.3 million (Aus.) to Deutsche Securities Australia Ltd. for placement in the market. The shareholding represents a 10% interest in Hardman Resources.

Woodside bought shares in Hardman Resources during 2001-04. The companies are partners in numerous projects off Mauritania, including Chinguetti oil field, which is to start production in February 2006 (OGJ Online, Sept. 21, 2005).