The licence is 100% owned and operated by Hawkley has significant upside with prospective resources of 379 Bcf, according to a resource evaluation by Moyes & Co.
Hydrocarbons in the B20, B24/25 and B26 horizons were encountered at its first operated well (Chernetska-1) on the licence.
The B26 sands recovered oil while gas shows were seen in the B24/25 carbonate; the company is evaluating the data from the well to begin testing operations.
