re: Ann: Hawkley Drilling and Production Oper... Sydney -...

re: Ann: Hawkley Drilling and Production Oper... Sydney - Thursday - June 30: (RWE Australian Business News) -
Hawkley Oil & Gas Ltd (ASX:HOG) today released its monthly update on
drilling and production in Ukraine, with sales during the month from the
Sorochynska field amounting to 200MMscf of gas and 7,000bbls of
condensate and generating $2.7m of gross revenue and an operating cash
flow margin of 52pc.
Hawkley holds $13m cash-at-bank at June 30.
Not a bad position to be in. Exciting 11/12 ahead.

Preparation continues for the next Sorochynska well, scheduled
for Q4 2011.
Hawkley has received expressions of interest from four drilling
contractors and expects to conclude contract negotiations during July.
Chernetska-1 is drilling ahead in a 16-inch hole. During the
month of June, to the 29th, the well was drilled from 568m to 1,969m, a
total of 1,401m drilled.
Progress to date has been better than expected and enabled the
schedule to recover from a delay of several days experienced in May
waiting on delivery of new casing.