KIEV, July 21 - Vanco Prykerchenska Ltd. (British Virgin Islands) has started drawing up a program and budget for the realization of the first stage of exploration of the Prykerchensky field on the shelf of the Black Sea in 2010.

"Despite the financial turmoil, the arbitration hearing in Stockholm, and the unwillingness of the Ukrainian cabinet to hold a constructive dialogue, Vanco Prykerchenska plans to fulfill its commitments as foreseen in the PSA agreement, submitting a working program and budget for 2010 to the cabinet," reads a company statement issued on Tuesday.