Drilling Report

23 May 2013

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Drilling Update

Significant Oil Discovery at Big Sky 4-11 Well

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update on drilling at its 100% controlled and operated Smoky Hill project in the Denver-Julesburg Basin, Colorado.

Highlights

·; Big Sky 4-11 well discovers substantial oil column in Mississippian Spergen formation

·; Discovery confirms north-east extension of the Arikaree Creek oilfield discovered by Nighthawk's Steamboat Hansen 8-10 well in October 2012

·; Test results from Big Sky 4-11 indicate production potential of 200 - 300 barrels/day (bbls/day) of high quality oil with minimal water production

·; Well has been logged and cased and is expected to commence production by the end of May 2013

·; The Taos 1-10 well, which is located on the Arikaree Creek structure midway between the Steamboat Hansen 8-10 and Big Sky 4-11 wells, spudded on 17 May 2013

·; Cumulative production from the Steamboat Hansen 8-10 well, which commenced production on 28 November 2012, has exceeded 46000 bbls of oil, with no water production

Arikaree Creek Development

Big Sky 4-11 Well

The Big Sky 4-11 well encountered 32 feet of gross pay interval at 8030 feet in the target formation of the Mississippian Spergen. The Big Sky well was drilled on the same structure as the Steamboat Hansen 8-10 discovery well, drilled in October 2012, and has confirmed a significant north-east extension of Nighthawk's Arikaree Creek oilfield.

The pay interval encountered by the Big Sky 4-11 well is similar in size and characteristics to the productive interval in the Steamboat Hansen 8-10 well. The well has been logged, cased and tested. Oil quality is good, installation of topside facilities is underway, and the Company expects production to commence by the end of May 2013 at an initial rate of 200 - 300 bbls/day, in-line with the six months of production experience from the Steamboat Hansen 8-10 well.

Logs from the Big Sky 4-11 well have also confirmed a number of stacked pay opportunities up-hole from the Mississippian.

Taos 1-10 Well

The second well in Nighthawk's current drilling program, the Taos 1-10 well spudded on 17 May 2013 and is progressing on schedule. This well is located on the Arikaree Creek structure midway between the Big Sky 4-11 and Steamboat Hansen 8-10 wells. Taos 1-10 has the same primary target as Big Sky 4-11, the Mississippian Spergen formation at a depth of around 8000 feet. As with all Nighthawk operated wells, additional stacked pay targets in the Pennsylvanian and Mississippian will be closely monitored whilst drilling and logging.

Steamboat Hansen 8-10 Well

The Steamboat Hansen 8-10 well discovered the Arikaree Creek oilfield in October 2012. The discovery is in the Mississipian age Spergen formation, the first discovery of this type in this area of Colorado. The well has been a significant producer since coming on-stream on 28 November 2012. Total production since that date now exceeds 46000 bbls of oil with no water production, and, significantly, production has been on a rising trend over the period.

A petrologic evaluation recently commissioned by Nighthawk has confirmed the existence of enhanced secondary porosity through hydrothermal alteration of the original reservoir. Nighthawk believes that this enhanced reservoir may be a contributing factor for the strong production performance of this well and that the Big Sky and Taos wells are likely to have similarly enhanced reservoir characteristics. The Company will commission an updated Competent Person Report on the Arikaree Creek oilfield at the earliest opportunity.

Stephen Gutteridge, Chairman of Nighthawk, commented:

"The successful oil discovery at the Big Sky 4-11 well is hugely significant for Nighthawk and the area in general. This well has confirmed a potentially sizeable oilfield with strong production characteristics. It has also de-risked the next well in our program, the Taos 1-10, and the potential production from three producing wells in the field should bring our next goal of 1000 bbls/day within reach. At that level of production and at current prices, Nighthawk would be generating significant free cash-flow after operating costs and overheads confirming a major transformation of the Company and a strong platform for further growth."

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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