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Resource Update

22 Nov 2017 07:00

RNS Number : 1973X
Nighthawk Energy plc
22 November 2017
 

22 November 2017

 

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

 

Resource Update

 

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the Arikaree Creek water flood Pilot project (the "Pilot").

 

Pilot Project Reserves

 

The Company engaged iReservior.com, Inc, an international geoscience and reservoir engineering consulting firm, to update the Company's internal estimates for the total EUR and incremental recoverable reserves for the Pilot. Shown in the following table are the updated current estimates, which have been made in accordance with SPE standards

 

In Mbbls

Estimated Recovery

1,239

Produced to date (est.)

(542)

Estimated remaining recoverable reserves

697

PDP currently booked

(343)

Estimated incremental recoverable reserves

354

 

The estimated incremental recoverable reserves are a direct result of the Pilot implementation.

 

 

 

Enquiries:

 

Nighthawk Energy plc

Rick McCullough, Executive Chairman 

+1 303 407 9600

Kurtis Hooley, Chief Financial Officer

+44 (0) 20 3582 1350

Stockdale Securities Limited

+44 (0) 20 7601 6100

Richard Johnson

Ed Thomas

Glossary

 

Mbbls - Thousand barrels of oil

OIP-Oil in place

PDP - Proved, developing, producing reserves

SPE - The Society of Petroleum Engineeers

 

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 34 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.

 

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

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLQLLBLDFFZFBL
Date   Source Headline
30th Nov 20167:00 amRNSProduction Update
16th Nov 20164:40 pmRNSSecond Price Monitoring Extn
16th Nov 20164:35 pmRNSPrice Monitoring Extension
11th Nov 201610:15 amRNSUpdate re Water Flood Pilot Project
1st Nov 20167:00 amRNSUpdate re Water Flood Pilot Project
30th Sep 20167:00 amRNSHalf-year Report
20th Sep 20164:35 pmRNSPrice Monitoring Extension
20th Sep 20167:00 amRNSSettlement of litigation
9th Sep 20167:00 amRNSCompany Update
9th Aug 20164:35 pmRNSPrice Monitoring Extension
3rd Aug 20167:00 amRNSWater Flood Pilot Project Update
1st Aug 20167:00 amRNSWater Flood Financing and Amendment of Loan Notes
27th Jul 20164:40 pmRNSSecond Price Monitoring Extn
27th Jul 20164:35 pmRNSPrice Monitoring Extension
14th Jul 20164:40 pmRNSSecond Price Monitoring Extn
14th Jul 20164:35 pmRNSPrice Monitoring Extension
1st Jul 20164:40 pmRNSSecond Price Monitoring Extn
1st Jul 20164:35 pmRNSPrice Monitoring Extension
30th Jun 201611:01 amRNSResult of AGM
30th Jun 20167:00 amRNSBanking Agreement
28th Jun 20167:00 amRNSProduction Update
10th Jun 20167:00 amRNSBank Negotiation Update
8th Jun 20167:00 amRNSWater Flood Approval
2nd Jun 20167:00 amRNSFinal Results
20th May 20164:40 pmRNSSecond Price Monitoring Extn
20th May 20164:35 pmRNSPrice Monitoring Extension
16th May 20163:17 pmRNSBank Negotiation
11th May 20167:00 amRNSWater Flood Approval Update
4th May 20167:00 amRNSWater Flood Approval and Year End Reserves Update
29th Apr 20167:00 amRNSBank negotiation
18th Apr 20167:00 amRNSBank Negotiation
5th Apr 20162:49 pmRNSProduction Update - Correction
5th Apr 20167:00 amRNSLitigation Update
1st Apr 20167:00 amRNSBorrowing Base Redetermination & Production Update
10th Mar 20164:20 pmRNSWater Flood Approval and Year End Reserves Update
4th Mar 20164:35 pmRNSPrice Monitoring Extension
4th Mar 20163:39 pmRNSHolding(s) in Company
19th Feb 20164:35 pmRNSPrice Monitoring Extension
12th Feb 20164:40 pmRNSSecond Price Monitoring Extn
12th Feb 20164:35 pmRNSPrice Monitoring Extension
8th Feb 20164:35 pmRNSPrice Monitoring Extension
1st Feb 20167:00 amRNSProduction Update
27th Jan 20164:35 pmRNSPrice Monitoring Extension
26th Jan 20164:35 pmRNSPrice Monitoring Extension
25th Jan 20164:35 pmRNSPrice Monitoring Extension
22nd Jan 20164:40 pmRNSSecond Price Monitoring Extn
22nd Jan 20164:35 pmRNSPrice Monitoring Extension
21st Jan 20164:40 pmRNSSecond Price Monitoring Extn
21st Jan 20164:35 pmRNSPrice Monitoring Extension
20th Jan 20164:40 pmRNSSecond Price Monitoring Extn

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