Nighthawk Energy Regulatory News (HAWK)

3 August 2017

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Company Presentation and Operational Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces and update to production levels, hedging volumes and also is pleased to advise that a new Company presentation will shortly be available to view on the Company's website www.nighthawkenergy.com.

 Highlights of the presentation include:

· Company and asset overview

o As at 1 June 2017*, 1.1 Mmbbls of proved reserves and 1.4 Mmbbls of 2P resources

o Production to date reaches the 2.5 million barrels mark

· Details of the Arikaree Creek water flood Pilot Project including discussion of positive indicators of response

o June monthly oil production from three water flood producing wells of 9,300 barrels (gross), 7,778 barrels (net), up approximately 15% from non-waterflood decline levels

o Company estimates incremental PV10 reserve potential in excess of $20 million from water flood pilot project

· Introduction to the development potential at Broken Spear Field

o 28 identified potential drilling locations

o Estimated drilling and completion costs of $1.2 million per vertical well

o Locations which contain similar reservoir characteristics to the Arikaree Creek development area

o Company estimated potential at P50 probabilities of 11.3 Mmbbls OOIP (PV10 value of $25.3 million)

o Potential for significant reserves upside

· Update of the Monarch development area in the Pennsylvania aged formation

* Interim updated audited report from the Company's independent reserve engineering firm, Ryder Scott Company LP under SPE standards

Hedging

The Company has entered into an additional swap agreement covering 8,000 barrels per month for the production period from 1 August 2017 to 31 December 2017. The contract price is $49.45 per barrel. With the addition of this contract, the Company has a total of 86,340 barrels of oil under hedging contracts for 2017 with prices ranging from $47.00 to $75.30.

 Production Update

Gross and net* oil production (unaudited), in barrels, for the first six months of 2017 is summarised below.

 *Net production is based upon Nighthawk's Net Revenue Interest of approximately 82% save for the Monarch 10-15 well where HAWK has a 16% working interest.

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

- Ends-

Enquiries:

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).

Definitions

2P- the sum of proved and probable reserves 

MMBLS - Million barrels of oil

OOIP - Original oil in place

P50--The confidence level for the probability existing and primarily refers to 'proved + probable' reserves

Probable Reserves-- an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engineering data demonstrate a 50% chance of being present

Proved reserves - an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions

PV10 -  the current value of approximated oil and gas revenues in the future, minus anticipated expenses, discounted using a yearly discount rate of 10%. 

SPE - The Society of Petroleum Engineers