Nighthawk Energy Regulatory News (HAWK)

16 Jun 2008 07:00



Nighthawk Energy plc

Jolly Ranch and Middle Mist Project Updates

The directors of Nighthawk Energy plc ("Nighthawk" or "the Company") (AIM: HAWK), the US focused hydrocarbon production and development company, are pleased to provide an operational update in respect of the Jolly Ranch and adjoining Middle Mist projects, located in Lincoln County, Colorado.

Nighthawk holds 50 per cent. interests in both projects. The operator, Running Foxes Petroleum Inc., holds the remaining 50 per cent. interests.

As announced on 30 April and 5 May 2008, the Jolly Ranch 16-1 and Jolly Ranch 2-1 wells which were designed to test multiple objectives, encountered hydrocarbons during drilling and were subsequently cased for testing.

The next well, the Craig Ranch 8-1, also testing multiple objectives, has now been drilled to target depth. Hydrocarbons were encountered during drilling and casing has been set for testing.

All three wells will test the primary target, the Marmaton, as well as other zones. Initial production testing on the three wells, which is expected to take approximately 45 days to complete, will commence in July 2008.

The drilling rig has been released and the drill programme will resume in Q3 2008 following the testing of the three wells. To date, drilling permits for a further 21 wells have been approved in the Jolly Ranch area by the State of Colorado.

In addition, Nighthawk and Running Foxes have acquired further acreage bringing the combined land held at Jolly Ranch and Middle Mist to in excess of 225,000 acres.

David Racher B.Sc (Hons) Geology, who is a consultant to Nighthawk and has over 37 years of experience in the hydrocarbons industry and previously managed the Lasmo plc onshore US portfolio in Kansas, Louisiana, South Dakota, Texas and Wyoming, has approved the technical information contained in this announcement.

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