Nighthawk Energy Regulatory News (HAWK)

 NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Operations Update

New Drilling Underway

Nighthawk, the US focused shale oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update on its 75% owned, operated project at Jolly Ranch in the Denver-Julesburg Basin, Colorado.

Highlights

·; New drilling program underway

·; Four new wells planned over next two months, all with 100% Nighthawk working interest

·; New leases signed for key acreage

·; Recovery in production continues with Q3 2012 to date 45% up on H1 2012 levels

New Drilling Program

The new drilling program has commenced with the John Craig 6-2 well. The drilling rig arrived on location last week and is currently drilling ahead at a depth of around 4,000 ft.

This is the first of four wells in the new well program with each location having been selected as a potential high-impact opportunity following extensive geo-scientific analysis, and assessment of the impact on the Company's lease position. All four wells are planned as simple vertical wells with drilling costs estimated at US$1 million per well. Drilling time for each well is anticipated to be 15 days including logging, running casing and drill stem testing, with the drilling rig expected to be on location at Jolly Ranch until the end of October.

A smaller work-over rig will be brought in for flow-testing and completion of the wells, which is likely to include acidisation of the formations. No hydraulic fracture stimulation is planned. The completion program is anticipated to commence on the John Craig 6-2 well in mid-September continuing through into November, and the market will be updated as the program progresses.

Nighthawk has a 100% working interest in these new wells (80% net revenue interest) as Running Foxes Petroleum, the 25% partner, has not consented to participation in the wells.

Drilling permits are in place for the first two wells in the program:-

John Craig 6-2

This well is located approximately 1,000 ft west of the existing John Craig 7-2 well, and will test a well-defined structure which has strong similarities to the highly productive Great Plains field located 4 miles to the south-east. The John Craig 6-2 has a planned target depth ("PTD") of 8,400 ft with a primary target of the Cherokee shale formations. There are also a number of secondary targets which will be evaluated.

Pike's Peak Williams 4-30

The Williams 4-30 well is located 2.5 miles north-west of existing Nighthawk producing wells and will test the up-thrown side of a large, seismically defined, basement fault. The well has a PTD of 8,000 ft and primary targets include the Cherokee shales and Marmaton formation, with a number of secondary targets.

Lease Management

The Company has now signed new leases with the Jolly family on attractive terms, securing 4,674 net mineral acres of high priority land for a further 3 years. A number of existing wells are located on this acreage and work is now underway to add potential additional production from three of these wells. 13,761 net mineral acres, which are not critical to the overall development of Jolly Ranch, have been released.

Whilst the primary determinant of the new well locations is the recently completed, detailed geo-science work, the Company has also assessed the impact of the new wells on the overall Jolly Ranch lease position. As a result, if successful, the new well program will secure substantial existing Nighthawk acreage and hold it by production.

Management of Nighthawk's land and lease position remains a priority and the Company continues to pursue opportunities to optimize its portfolio, including discussions with potential new partners.

Production

Although minor mechanical problems caused some lost time in July, the recovery in production is continuing. Gross production in August, up to the 26th has averaged 60 bbls/day, with the third quarter average to that date at 55 bbls/day, 45% higher than the average in the first half of 2012.

Stephen Gutteridge, Chairman of Nighthawk, commented:

"We have now commenced the second stage of our development plan since taking operatorship of the Jolly Ranch project, with the drilling of the first new wells for nearly three years. All four planned wells have clearly defined, highly promising, structural targets and we are very comfortable in taking on this program on a 100% basis. Production from existing wells continues to recover and our active lease management approach is helping us optimize our cash resources. We are also continuing to work with our US legal counsel in formally pursuing the ongoing claims against Running Foxes Petroleum."

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 32 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.

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