The result has scaled the oil reserves estimate upwards from the initial 110 million barrels. A development decision is expected in 2003.

"Evaluation of the wireline logs, pressure measurements and wireline fluid samples confirms that the Chinguetti 4-4 well has intersected gross oil pay of 114m in the A sand reservoir," said Hardman Resources in a stock exchange release.

Hardman added that the combined results of the two wells have confirmed a total vertical relief from highest known oil to lowest known oil in the southern part of the field of 280m oil bearing sandstone.

"We are very encouraged by the results of the drilling program, especially the confirmation of a deeper oil water contact in the Chinguetti 4-4 well as this gives us the opportunity for a commercially robust project without further testing or appraisal drilling," said Hardman's managing director, Ted Ellyard.

The partners (Woodside, Agip, Roc, Fusion and Hardman) will now drill the Thon wildcat exploration well.