Hawkley spuds Ukrainian well

The Sorochynska–202 well is the company’s second on the licence, and was spudded on 15 February, the company told the Australian Securities Exchange.

Hawkley had originally planned to spud the well in January, but this was delayed by the need to secure replacement diesel engines and then by bad weather delaying movement of equipment to the site.

The well will be drilled by the Chernigov NGG drilling company and is expected to reach its total depth of 4250 metres in August, company chief executive Michael Earle said.

Earle said moving equipment and rigging up under frost was a “hazardous and incredibly difficult task, and the crew is to be commended for completing the job under such challenging personal circumstances.”

Shares in the company closed down A1 cent or 6.45% to A14.5 cents on the Australian Securities Exchange following the news.

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