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Exploration and production company Advance Energy Ltd (AVD) has a team with over 30 years' combined experience in acquiring and optimising international oil and gas assets.

Advance is now focussed on the Ortynytska Project in Western Ukraine, a country with significant under-developed and undiscovered gas reserves and which currently relies on costly imports from Russia.

Domestic gas prices in Ukraine are among the highest in Europe and the fiscal regime encourages the development of gas fields for domestic consumption.

Advance's re-entry of the Orthnytska-3 well gives it the opportunity to develop a prospect that is on-trend with the historic Zaluzhany gas field for a fraction of the cost of a new well.