Hawkley Oil and Gas Limited

ABN: 68 115 712 162

Suite 3 / Level 3, 1292 Hay Street

West Perth WA 6005

PO Box 1091

West Perth WA 6872

t: +61 8 9226 3211 f: +61 8 9322 4073

e: [email protected]
ASX Announcement - 26th March 2015

Update on Sorochynska Well 201

Hawkley Oil and Gas Limited ("Hawkley" or "the Company", ASX: HOG) provides the following update concerning the loss of gas production from Well 201 on the Sorochynska licence in Ukraine.
In November 2014, the Sorochynska 201 well experienced a sudden significant decrease in production. Investigations identified that the change in performance was due to water influx. Production ceased during December whilst investigations into possible remedies continued.
Earlier this month the supply and installation of additional compression equipment was completed in an effort to resume production. Testing and commissioning of the additional equipment was carried out successfully, however the gas volume and pressure at the inlet was not sufficient for the compressor to continue operation.
The well is currently closed with monitoring indicating that the gas pressure is increasing due to gas inflow. The situation will continue to be monitored with the possibility of a further attempt to restart production in the next few weeks if gas pressure increases sufficiently.

www.hawkleyoilandgas.com

Directors

Glenn Featherby
Executive Chairman
Bill Foster
Non-Executive Director
Anthony Reilly
Non-Executive Director

Share Information

ASX Code: HOG Shares on Issue: 288.2M Options on Issue: 13.0M Share Price*: 0.6¢ Market Cap*: $1.73M
*As at 25 March 2015
The Company will update investors further when new information becomes available.
The Company is also considering certain corporate transactions and other project opportunities and will advise of any developments in due course. Shareholders should be aware that there is no certainty of such discussions and negotiations leading to a transaction being concluded.

For more information, please contact:
Glenn Featherby - Executive Chairman
Hawkley Oil & Gas Limited Ph: +61 8 9226 3211 www.hawkleyoilandgas.com