The company owns between 21.6% and 28.8% of the three permits being operated by Woodside offshore Mauritania, which contain the Chinguetti, Tiof and Banda oil and gas discoveries.

Up to 21 exploration, appraisal and development wells have been approved for the fields with an expected cost of around US$600 million for phase one of development.

After closing last night at $2.20 Hardman’s stock have continued their climb to $2.22 at the time of print.