26 Jan 2017 07:00
The following correction has been made to the Production Update announcement released at 7.00 a.m. on 24 January 2017 under RNS 9027U. The 2016 YTD Daily Averages should have been calculated as 1,317 (gross) and 1,075 (net), and not 1,439 and 1,174 respectively, as previously stated. All other data, including total production figures, remain unchanged. The full text of the corrected announcement is shown below:
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Company Update
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to current and annual production levels.
Production Update
Gross and net* production, in barrels, for the twelve months of 2016 is summarised below.
| Monthly |
| Daily Average | ||||||||
| Gross |
| Net |
| Gross |
| Net | ||||
| 2016 | 2015 |
| 2016 | 2015 |
| 2016 | 2015 |
| 2016 | 2015 |
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January | 43,961 | 63,606 |
| 36,017 | 52,183 |
| 1,417 | 2,052 |
| 1,162 | 1,683 |
February | 40,378 | 55,976 |
| 33,053 | 45,843 |
| 1,407 | 1,999 |
| 1,153 | 1,637 |
March | 42,720 | 59,382 |
| 34,942 | 48,688 |
| 1,314 | 1,915 |
| 1,078 | 1,570 |
April | 40,704 | 59,919 |
| 33,319 | 49,136 |
| 1,357 | 1,997 |
| 1,113 | 1,638 |
May | 40,780 | 59,406 |
| 33,410 | 48,710 |
| 1,302 | 1,916 |
| 1,068 | 1,571 |
June | 40,248 | 54,556 |
| 32,916 | 44,646 |
| 1,356 | 1,815 |
| 1,112 | 1,488 |
July | 43,045 | 56,116 |
| 35,162 | 46,018 |
| 1,382 | 1,810 |
| 1,133 | 1,484 |
August | 42,759 | 53,863 |
| 34,885 | 44,171 |
| 1,379 | 1,738 |
| 1,125 | 1,425 |
September | 38,551 | 48,982 |
| 31,459 | 40,161 |
| 1,285 | 1,633 |
| 1,049 | 1,339 |
October | 39,671 | 49,724 |
| 32,246 | 40,769 |
| 1,280 | 1,604 |
| 1,040 | 1,315 |
November | 33,317 | 46,581 |
| 26,990 | 38,108 |
| 1,111 | 1,553 |
| 900 | 1,270 |
December | 35,985 | 46,068 |
| 28,885 | 37,727 |
| 1,161 | 1,486 |
| 932 | 1,217 |
YTD | 482,119 | 654,179 |
| 393,284 | 536,160 |
| 1,317 | 1,953 |
| 1,075 | 1,600 |
During November 2016, certain wells were not in production as they were being worked over in conjunction with the Arikaree Creek Pilot water flood project. As shown in the table above, production had resumed on those wells in the second half of December.
*Net production is based upon Nighthawk's Net Revenue Interest of approximately 82%
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.
Enquiries:
Nighthawk Energy plc |
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Rick McCullough, Executive Chairman | +1 303 407 9600 |
Kurtis Hooley, Chief Financial Officer | +44 (0) 20 3582 1350 |
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Stockdale Securities Limited | +44 (0) 20 7601 6100 |
Richard Johnson |
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David Coaten |
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