Nighthawk Energy Finds Organic Rich Shales At Atoka, Cherokee

LONDON (Dow Jones)--Nighthawk Energy Plc (HAWK.LN), a U.S. focused hydrocarbon development and production company, announced Wednesday for the Jolly Ranch project acreage, that the organic rich shales in the Atoka and Cherokee are laterally continuous, specifically between the Craig 6-4 SWD well and the recently drilled John Craig 7-2 well which are 30 miles apart. MAIN FACTS: -These results were found by in a report completed by Schlumberger Data & Consulting Services -Two north-south cross sections were constructed over the project acreage in the Jolly and Craig Ranch areas. -The stratigraphic tops were extended from the Jolly Ranch area 30 miles to the north through the location of the recently drilled John Craig 7-2 well. -The report concluded that in both the Atoka and Cherokee formations, the individual shales can be readily correlated through the area covered by the cross sections. -In addition, it was concluded that the result provides confidence that shales are present under most, if not all of Nighthawk's acreage. -Shares closed Tuesday at 26 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com (END) Dow Jones Newswires July 07, 2010 02:50 ET (06:50 GMT)