>>We continue to rate Hawkley Oiland Gas as a Buy with a price...

>>We continue to rate Hawkley Oil
and Gas as a Buy with a price target of 66cps."<<

Well Hawkley only have another month for this 3 month target to become a reality. Yet no one could pick the seriousness of the correction.

We can give a good 45-50c on Well 1 current revenue then some pricing for Development Well 2 to get over 60c quite easily when sentiment better. More on Well 1 when have own gas plant next year. Plus all and any future revenue with own Gas Plant. The ROI of this Gas Plant is amazing and a great play. 17% added to bottom line instantly. When we talking about 30, 40+ Million pa you can see this 3 mil Gas Plant investment is a great deal. But it will never ever fairly priced current revenue and development opportunity prospects in the current market. IMO.

The Development Well 2 is very different with a 'probable' rating than Well 3 being a higher risk spec. So surely most most must add something for the development well and coming Gas Plant that will gain an instant 17% profit when built on all revenues. Of course the logistics of red tape 'politics payments' will need to be made to get this done quickly in the Ukraine IMO.

They done before with Well 1 and know the deal in Ukraine... it probable, not simply possible they will do all they say with Well 2 and Gas Plant. IMO. As the runs are on the board...

Runs on the board with good cashflow is always a good look on sovereign risk assets. Management must need to know the political system inside out- these guys prove they do. IMO.

Good deal value wise and risk reward wise....cheers