"ASX Announcement – December 4, 2012 Hawkley Oil & Gas: Sorochynska-202 Completion Process Update Hawkley Oil & Gas provides the following update on the completion process of Sorochynska-202 well in Ukraine. Further to the announcement on 28 November, the well continues to flow at a commercial rate. However the flow rate is currently fluctuating on a daily basis and we are unable to establish a rate that we consider to be representative of a final stabilised flow rate. Additional testing and technical analysis is being carried out. Further updates will be released in due course."..........
Further uncertainty re number 2 well??? Do they have experienced personnel running these tests as the limited update information being relayed to us shareholders is becoming extremely frustrating? The only positive re this mornings announcement is that the well is currently flowing at commercial rates. Remember that the CEO stated that this well would be expected to "DOUBLE" our production and cash flow by December 2012. His statement appears to be a tad premature at the current snails pace of progress???
HOG Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held