22 Nov 2017 07:00
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
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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).