KIEV, Feb. 29 - Vanco Prykerchenska Ltd is planning to invest up to $400 million in exploring the Prykerchenska oil and gas block of Ukrainian Black Sea shelf over three years, Vanco Prykerchenska President Jim Bown told reporters in Kiev on Wednesday.

"We're planning to start exploration of the Prykerchenska block in the second half of 2012… Over the first three years we plan to spend almost $400 million, according to our assessments," he said.