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Jolly Ranch Q3 2011 Production Update

17 Nov 2011 07:00

RNS Number : 2433S
Nighthawk Energy plc
17 November 2011
 



Thursday 17 November 2011

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Jolly Ranch Q3 2011 Production Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces its quarterly production update, covering the quarter ended 30 September 2011.

Highlights

·; Q3 production of 2,592 barrels net to Nighthawk (net of tax and royalty) (Q2: 3,079 barrels net to Nighthawk)

Update on Production

Q3 production is below the level of Q2 due to a mechanical breakdown of the Craig 4-4, the longest producing well at Jolly Ranch. Once this well is placed back on pump, production levels are expected to rise.

The production figures below are presented net of applicable Colorado State Taxes and Royalty payments to the landowners. The figures for the quarter ended 30 June 2011 are presented for comparison.

Q2 2011

Q3 2011

Month

Bbls net to Nighthawk

Month

Bbls net to Nighthawk

April

831

July

902

May

1,225

August

863

June

1,023

September

827

Total

3,079

Total

2,592

 

These figures should not be used to calculate a bopd figure as the wells, which are predominantly on test, are intermittently taken offline for routine maintenance, modifications to pumping equipment, weather related conditions, workovers, recompletions or completion in new zones. With more wells on production, the effect of individual wells being taken offline would have less impact on the overall production figures.

Tim Heeley B.Eng (Hons) a member of the Society of Petroleum Engineers, Fellow of the Geological Society of London and a Chartered Energy Engineer, who is CEO of Nighthawk and has over 16 years of experience in the hydrocarbons industry, has approved the technical information contained in this announcement.

Enquiries:

Nighthawk Energy plc

Tim Heeley, Chief Executive

Richard Swindells, Chief Financial Officer

 

020 3582 1350

 

 

Westhouse Securities Limited

Tim Feather

Matthew Johnson

020 7601 6100

tim.feather@westhousesecurities.com

matthew.johnson@westhousesecurities.com

 

FTI Consulting

Ben Brewerton

Ed Westropp

020 7831 3113

 

nighthawk@fticonsulting.com

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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