4 Jul 2013 07:00

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4 July 2013
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
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Exercise of Option to purchase additional 25% Working Interest in Smoky Hill and Jolly Ranch Projects
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces that it has exercised its option to purchase the remaining 25% working interest in its Smoky Hill and Jolly Ranch projects in Colorado from Running Foxes Petroleum, Inc. ("RFP"). Following completion of the acquisition Nighthawk will own and operate 100% of both the Smoky Hill and Jolly Ranch projects.
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Key Points
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·; As part of the Settlement Agreement concluded with RFP in October 2012, Nighthawk was granted an option to purchase RFP's remaining 25% working interest in the Smoky Hill and Jolly Ranch projects in the Denver-Julesberg Basin, Colorado
·; Nighthawk has now formally notified RFP of its election to exercise the option
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·; The purchase price for RFP's 25% working interest is US$12 million, payable in cash
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·; Nighthawk plans to fund the acquisition from cash-flows over the next six months and is finalising the terms of a short-term bridging loan to facilitate completion of the sale and purchase agreement, which under the terms of the option is scheduled to complete within thirty days
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- Ends-
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Enquiries:
 Nighthawk Energy plc Stephen Gutteridge, Chairman Richard Swindells, Chief Financial Officer  |  020 3582 1350  | |
Westhouse Securities Limited Richard Baty Ian Napier | 020 7601 6100 richard.baty@westhousesecurities.com ian.napier@westhousesecurities.com  | |
Investec Bank plc Chris Sim George Price  | 020 7597 4000 chris.sim@investec.co.uk george.price@investec.co.uk | |
FTI Consulting Ben Brewerton Ed Westropp | 020 7831 3113 ben.brewerton@fticonsulting.com edward.westropp@fticonsulting.com | |
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