Hawkley Oil & Gas has been granted a five-year exploration permit by the Ukrainian State Geological Department for the Chernetska licence located in the Dnieper-Donets Basin, Ukraine.

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.