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Hawkley Oil & Gas

Hawkley Oil & Gas to receive Ukraine seismic data earlier than expected, development planning begins

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Hawkley Oil & Gas (ASX: HOG) has said processing of its Sorochynska 3D seismic over its Ukraine assets has proceeded faster than previously anticipated and is now expected to be completed by the middle of this month.

Interpretation and depth conversion of the processed data set should be complete by late July, allowing the company the company to more quickly optimise the position of future wells and identify other appraisal and exploration opportunities.

Meanwhile, planning of Sorochinska-203, Hawkley’s third development well has started.

Its exact location will be determined once the results of Sorochinska-202, which is being drilled, and the 3D data are integrated.

Front End Engineering Design work for the gas plant is also close to completion with final vendor proposals currently being reviewed.

Hawkley is also evaluating data from the disappointing Chernetska-1 well.

While the primary target gas reservoir had disappointing quality at the target location and testing of the oil bearing B26 sands were terminated following a mechanical failure, some light oil was recovered to surface before the test ended.

The company is now deciding whether its worth pursuing testing operations with a workover rig.

 

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