Nighthawk Energy Buys 50% Hammond Project Kansas

LONDON (Dow Jones)--Nighthawk Energy PLC (HAWK.LN), a U.S. focused hydrocarbon development and production company Monday announces the acquisition of a 50% interest in the Hammond project located in Bourbon County, Kansas. MAIN FACTS: -Running Foxes Petroleum Inc. has acquired the remaining 50% interest and is the operator. -4,773 gross acres acquired -42 production wells present within the acreage -Re-evaluation and redevelopment program underway -12 mile pipeline network connects to Nighthawk's 50% owned Bourbon County Pipeline -In addition to the land base described above, significant infrastructure including a combination of gas and oil production wells, oil tank storage batteries and pipelines form part of the acquisition. -42 wells (29 gas / 13 oil) are situated within the Hammond acreage and are classified by the previous operator as production wells, having produced from coal and shale formations. -Running Foxes intends to fracture stimulate the Riverton coals, the AW coals and the Tebo 'B' shale, which are the main formations present in the gas wells. -The current oil wells, following recompletion, will be brought online, together with additional production and water injection wells. -The reservoir is the Bartlesville sandstone and is continuous within the Revere project which is undergoing waterflooding at several sites. -Running Foxes and Nighthawk now control 51 miles of main pipeline and gathering systems in the region, transporting gas from their Kansas and Missouri production to the main interstate line. -Shares closed Friday at 23.5 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 28, 2010 02:45 ET (06:45 GMT)