Aleator Energy Limited (AWD) is an ASX listed company with headquarters in Perth, Western Australia.
Floated in 1996, the Company is an active participant in oil and gas assets in the Ukraine. The Company also retains mineral royalties in Australia and interests in oil and gas in the Paradox Basin of Utah, USA.
The Povorotnoye gas field in Ukraine was drilled by the Russians in the second half of the 1980s. Seven wells were drilled at that time. Three of the wells tested gas and condensate at rates varying from 2.5 mmcfd* to an estimated 17 mmcfd. Three of the other four wells found gas but were not tested. Although the field has been discovered and fully appraised, it has never been put into production due to Ukraine getting all its gas from Russia at very low prices until recently. Aleator Energy has a 62.1% interest in the field. A new well is planned for the field by Aleator in September 2012. A successful test of the main reservoirs will lead to production of the gas into a nearby gas plant commencing in 2013.
*mmcfd : million cubic feet of gas per day