EnergyOil & Gas
Hawkley Oil & Gas

Hawkley Oil & Gas selling Ukraine assets to Black Star Petroleum


Hawkley Oil & Gas (ASX:HOG) has entered into a binding agreement to sell its producing Ukraine oil and gas operations to Black Star Petroleum (ASX:BSP) for 600 million BSP shares.

The Sorochynska 201 well in the Sorochynska Licence produced an average 2.2 million standard cubic feet of gas and 49 barrels of condensate during the 2014 financial year.

Hawkley will distribute the BSP shares directly to its shareholders.

The sale is subject to the standard conditions including due diligence, Black Star obtaining all regulatory approvals as well as shareholders of both companies approving the transaction.

Hawkley’s wholly owned subsidiaries Janita Global Limited, Ukraine Investments Pty Ltd, Ukraine Gas Investments Pty Ltd and Prime Gas, which are the subject of the agreement, hold the Sorochynska, Stoliarovska and Chernetska licences.

The company has been reviewing new opportunities within Ukraine, Russia and other FSU countries along with continuing efforts to secure new business opportunities in Myanmar and the wider Asian region.

It is currently considering two specific corporate transactions with the aim of providing diversification and a new direction for the company.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Hawkley Oil & Gas

Price: $0.00

Market: ASX
Market Cap: $994.23 k

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Rockfire Resources' David Price discusses Brigalow Alluvial...

Rockfire Resources PLC's (LON:ROCK) David Price tells Proactive London's Andrew Scott they've been getting a better understanding of an alluvial gold deposit next one of their main assets in Queensland. Calculations made in 1986 on an area known as Brigalow Alluvial Goldfield has suggested...

2 days, 19 hours ago

2 min read