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Hawkley Oil & Gas firms up upside gas condensate potential in Ukraine field

Published: 03:30 26 Apr 2012 BST

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Hawkley Oil & Gas (ASX: HOG) has the plenty of resource upside to access at the Sorochynska gas condensate field in Ukraine.
   
Independent expert Moyes & Co said mean contingent resources of 248 billion cubic feet (Bcf) of gas and 7.2 million barrels (MMbbl) of condensate were present in the Visean Sandstones.

Another 168Bcf of gas and 3.5MMbbl of condensates are believed to be present in the carbonate reservoir.

This is in addition to the company’s proved and probable reserves of 40.5Bcf of gas and 0.97MMbbl of condensate assigned to the B18 horizon, where it is currently producing from.

Hawkley said it would have to drill a well to confirm adequate permeability in the B-17, B-18, B-19 and B-22 Sand intervals to upgrade the Visean resources into reserves.

It added the gas in the B-24/25 carbonate interval was considered prospective as it had not produced commercially in the licence nor was there production from a similar reservoir with similar log responses within the licence.

Hawkley currently produces 6 million cubic feet of gas and 196 barrels of condensate per day from the B18b reservoir in the Sorochynska-201 well, which is located in the eastern part of the licence. This generated A$2.8 million in revenue last month before state royalties.

Further production is expected from the Sorochynska-202 development well that was spudded in February and expected to reach target depth in August.

 

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