York Energy (UK) Holdings Limited, an Alpha Energy group company, is the 100% owner and the operator of the Ichnyanska area in Ukraine under a Production Sharing Agreement (“PSA”) with the Government of Ukraine.

Alpha has signed a MOU with Halliburton for full field development, which will be the first field development in Ukraine using current best international technology and practices.

Property Overview:

• Total area: 2,086 sq. km. (515.5 thousand acres)
• Location: Chernihiv region, Dnipro-Donets Basin, Ukraine
• Governance structure: 50-year PSA with the Government of Ukraine with defined and stable fiscal and commercial terms
• Alpha has digitized and processed extensive legacy data to build a proprietary volumetric model and field development plan. Data set includes 400 2D seismic lines, 70 well logs, and multiple analog fields in the area 

An energy-friendly investment destination, Ukraine:

• Has the largest reserves in Europe, and is only the 4th largest energy producer, implying the largest under-developed reserve opportunity in Europe
• Is a key oil and gas transit country, well positioned to become an important energy supplier to W. Europe as countries continue to limit hydrocarbon development and look to imports for traditional energy
• Recently introduced positive fiscal and legislative changes, including reducing royalties and increasing transparency in licensing processes
• Welcomed world-class service providers, who offer a full suite of modern capabilities that will aide in exploiting the potential for technology arbitrage
• Enjoys import parity pricing. Brent+ and (euro gas hub)+ realizations for oil and gas are common in Ukraine