Hawkley Oil and Gas (ASX:HOG) has revealed it is undertaking several expansion strategies to leverage revenue from oil produced at its Sorochynska field in Ukraine.
The company is partnering with Azimuth Ltd to bid for three shallow water blocks in Myanmar, with allocations due early next year.
Azimuth is an offshore focused exploration company active through 37 offshore exploration licenses containing 85 blocks offshore Norway, Ireland, UK, and Namibia, where it is the largest single offshore exploration area holder with 70,000 square kilometres.
Hawkley is also negotiating the acquisition of near-term producing assets in Ukraine and the Former Soviet Union.
Hawkley is presently capitalised at around $6 million.
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