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HOG - Hawkley Oil and Gas

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I agree that there doesn't seem much scope for immediate ongoing announcements with regard to drilling progress. However I remember that last Novemeber when HOG reported the quite spectacular flow rates from their first well (4-5 times more than expected) they said they were going to have a review of the reserves in the fields. I thought this was supposed to come out in January and it would reflect the capacity to immediately spud a second well in the current field as well as indicating the final total value of the asset.

That would be be a very big driver of overall value if/when it is released.

Have to say though that it would be good to see a healthier SP instead of this rather an insipid up and down at what seem to be very low values.
 
The Sorochynska well started production on the 17th of Feb, should we therefore expect the 2 month production figures early next week? if we see minimal declines like the production that occurred back in the 80s could we see a re-rating of the stock?
 
Wombus said:
The Sorochynska well started production on the 17th of Feb, should we therefore expect the 2 month production figures early next week? if we see minimal declines like the production that occurred back in the 80s could we see a re-rating of the stock?
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I think we should be expecting them soon and the Quarterly, so hopefully we will see some serious cash flowing in. This thin imo will begin to rise when Initial production rates are expexted on Chets.
 
stockjunkie said:
trading halt in place requested by the company due to possible announcement on capital raising.
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Hang on. Weren't holders told a few weeks back that they had no need to raise capital?

I dont like when management go back on their word, aren't they making enough from the 1st well? :confused:
 
Not the kind of news I was hoping for if thats the case and was under the impression they werent going to need CR.
 
I can't imagine what it could be other than to accelerate the drilling program or a deal with Shell.
 
I think cooler heads are required on this one, the CR could easily be to accelerate the drilling program or fund an acquisition. If it's for either I'm hoping I can free up the cash to take up maximum entitlement!
 
I too think this CR could be of the positive nature, as the flows from the 1st well were doing great and the 2nd well should have been funded quite easily through the revenues.

It could be my optomistic side, however I think this CR could be more positive and of the acquisition nature as I doubt they would state 'No CR needed' then come out with one unless it was a real timely opportunity.

I've had a few of my holdings raise capital recently, and this is one that i'm not concerned about.
 
Great, now they can get things moving faster which is great.
Management seem careful so I'm confident they will put the money to good use and add value for all of us :)
 
I am a bit disillusioned with this announcement, especially with the share price down in the dumps.. have a lot of cash invested here, not sure how to play it.. loosing a bit of faith.
 
This is exciting stuff, the Share purchase plan will no doubt be over subscribed, I'll be taking it up in full that's for sure :)
Lets hope that they pull off an acquisition as well as ramping things up with development of their acreages.
My guess is that there will be an acquisition announcement that will come in the next month or two, but this is pure speculation so don't take it in any other manor.
 
Benny, Why will it be oversubscribed? trading on this stock has been appalling lately. dont get me wrong i hope it is, but not sure which way its gonna go.
 
bennywizard said:
This is exciting stuff, the Share purchase plan will no doubt be over subscribed, I'll be taking it up in full that's for sure :)
Lets hope that they pull off an acquisition as well as ramping things up with development of their acreages.
My guess is that there will be an acquisition announcement that will come in the next month or two, but this is pure speculation so don't take it in any other manor.
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Benny you are a supreme optimist but I must admit your post is more encouraging than Magicmans previous post. I'm inclined to agree with magicmans sentiment and others who are surprised at this CR given recent comments by management that they wouldn't have to go down this path. However, as others have mentioned it may be be something quite positive for the companies future and our pocket.

We'll know soon enough.

I hold quite a few
 
It will be a small institutional placement not a SPP. Question is what amount will it be placed at and what will the funds be used for.
 
Id say patience. They may be raising for an accelleration / acqusition etc. Just wait see imo.

I didnt foresee it, although im not that surprised either, given the nature of this game.
 
condog said:
TRANSCRIPT OF THE RADIO INTERVIEW WITH RICHARD REAVLEY, MANAGING DIRECTOR, HAWKLEY OIL AND GAS LIMITED, an ASX listed exploration and production company with 100 per cent owned assets in the Dnieper-Donets Basin.

http://ukrainian-energy.com/articles/gas_oil/206/


Your main asset, the 201 well, can you please provide some details around this?

Sure.? I mean, obviously, that?s been a success for us and people are starting to ? you know, we?re starting to get people?s attention because of what we?ve done.? Really, what that does is it makes us a production company.? It puts us into the top 10 oil and gas companies ? in listed oil and gas companies in Australia in terms of revenue, which is obviously a good achievement.? But, really, what that well has done is, apart from its sort of de-risk to the stock to quite a large extent, it allows us to go and drill two wells and start a third well this year and, also, it really allows us now to go and start to really seriously build the team that is really going to take this Company forward and, you know, attract good-quality people, which we?re very much in the process of doing, and bringing those people into the Company.? And we can do all of this without going out and doing a big capital raising.? You know, that?s obviously a very, very important thing.? You know, it has given us that stability and taken a lot of the risk out of it and, as I said, you know, people are starting to see the Ukraine as a good place to operate.? You know, we?ve been paid for our gas.? As I said, we?ve got that revenue.?


We expect to start another production well in the middle of the year and, again, towards the end of the year, we?d like to start a third well, and that?s all funded with cash flow. http://ukrainian-energy.com/articles/gas_oil/206/
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He was pretty clear in that interview about the need for no capital raising, and funding things from Revenue. So i expect a few people will be upset if this CR is not for something pretty good.

Lets just wait see for the announcment about the use of CR funds.
 

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