Small Australian Company Strikes Big in Ukraine

abarrelfullabarrelfull wrote on 25 Nov 2010 14:12
Tags: asx hawkley ukraine

rating: 0+x

Hawkley Oil & Gas is a small company that has only recently become a tradable commodity. They are active in gas exploration in Ukraine.

They have announced the results of a test drilling and they say they are pleasantly surprised.

The Company originally anticipated flow rates of 4 million standard cubic feet per day (mmscfpd) and 120 barrels of condensate per day (bblspd).

What they got was better however

With an 8 mm choke size the test shows 10 million standard cubic feet per day (mmscfpd) and 300 barrels of condensate per day (bblspd).

I guess they and their investors will be happy.


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