The index comprises companies selected jointly by international ratings agency Standard & Poor's and the ASX. It includes the S&P/ASX 100, which consists of Australia's premier large capitalisation equity index, plus an additional 100 companies.
Hardman's managing director, Mr Ted Ellyard said he was very pleased with the re-rating of Hardman, which he considers represents both recognition of recent performance and the company's future growth prospects.
"We all look forward to a busy and successful year ahead with even greater exploration and drilling activity in offshore Mauritania and in our other projects during 2002 than in the previous year," Mr Ellyard said.
In drilling news, the company has decided to drill two vertical wells on the Woodada gas field after encountering mechanical difficulties in drilling Woodada-17. The well was planned as a deviated well, however became stuck at 1,364 metres. Two verticals wells, Woodada-18 and Woodada-19, are now planned for re-drilling.
