Nighthawk Energy Has Received Strong Interest For Jolly Ranch Share

LONDON (Dow Jones)--Nighthawk Energy PLC (HAWK.LN), the U.S. focused hydrocarbon development and production company, said Monday that Macquarie Tristone has received strong interest seeking for part of the working interest in the Jolly Ranch Project in Colorado, adding that revenue from Jolly Ranch continues to increase and is at an all time high. MAIN FACTS: -During the initial stages of marketing, strong interest has been received from a number of significant domestic U.S. and international firms. -To date, seven companies have signed confidentiality agreements in order to evaluate information held in the Jolly Ranch project Data Room. -Due to continuing interest, it has been agreed with Macquarie that the divestment process timetable will be extended to allow for as many companies as possible to evaluate the project as development of the Jolly Ranch project continues. -Completion activity and data evaluation is continuing on Jolly Ranch and a new drilling program is planned in parallel with the divestment process. -Whilst the initial indications of interest from industry participants are clearly encouraging, there can be no assurance that the process will result in the completion of a transaction. -Shares at 0925 GMT up 1.75 pence, or 7%, at 26.75 pence valuing the company at GBP88.18 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires July 26, 2010 05:30 ET (09:30 GMT)