The Company made its debut on the ASX on 29 June 2010 following completion of a reverse takeover of the former biotechnology company Incitive Limited (ASX: ICV) and a successful $5.5 million capital raising.
In 2010, the Company drilled its first well in the Sorochynska licence. Sorochynska-201 was a successful well and was put into production in February 2011. The Company completed its second well Sorochynska-202 in September 2012 and work is on-going to establish production from that well.
By operating its own gas plant, Hawkley benefits from significant cost savings from its already low cost production environment. The gas plant currently has the capacity to process 11 million cubic feet per day and is a scalable plant with scope to handle incremental production which could come from additional development wells on the Sorochynska Field as well as new reserves related to exploration and appraisal drilling.