HAWK Nighthawk

RNS Number:0137K
Nighthawk Energy plc
17 December 2007


                              Nighthawk Energy plc

                               Jolly Ranch Update

Highlights:

*     Land base increased from 84,000 acres to in excess of 139,000 acres

*     Refinement of 3-D seismic identifies additional drill targets

*     Expansion of 2008 development drilling programme

The directors of Nighthawk Energy plc ("Nighthawk" or the "Company") are pleased
to announce an update on the Jolly Ranch project.  Nighthawk and its partner
Running Foxes Petroleum Inc ("Running Foxes"), the operator, each hold a 50 per
cent. working interest in the project.

Jolly Ranch is located in Lincoln County, Colorado within the Denver Basin where
production is drawn from Mississippian, Pennsylvanian, Permian and Cretaceous
reservoirs.

As reported on 12 November 2007 a successful 3-D seismic programme covering 21
square miles was shot over key sections of the Jolly Ranch project area
including the Bolero and Craig Ranch oilfields which were abandoned in the 1990s
due to low oil prices.  In addition, a detailed soil gas and iodine geochemical
survey was completed and numerous anomalies correlating with targets identified
by the 3-D surveys were identified.

The land base of the Jolly Ranch project was initially 40,000 acres.  A further
44,000 acres was acquired in November 2007 bringing the project area to 84,000
acres.

Nighthawk and Running Foxes have continued their land acquisition programme.
These efforts have resulted in the purchase of a further 55,557 acres, bringing
the total project area up to 139,577 acres.

With the ongoing interpretation of the 3-D seismic data and other technical
studies, additional drilling targets have been identified.  As a result, the
drilling programme has been re-evaluated and an expanded programme for 2008 is
now planned.

A refinement of targets has been undertaken and four new high priority drill
locations have been selected.  These initial wells, termed the Four Kings,
namely Elizabeth, Henri, Phillip and Sixtus, will test multiple stacked targets
in the Marmaton, Morrow, Atoka, Cherokee and Mississippian.  Well permit
applications have been submitted to the State of Colorado for approval.  The
first well to be drilled will be the Elizabeth which is scheduled to spud in the
first quarter of 2008.

While it is very early in the evaluation process of Jolly Ranch, Running Foxes
estimates that the aggregate potential of the targets is in excess of 100
million barrels of oil in place with significant potential to increase that
estimate based on the extent of the current seismic features seen.

David Bramhill, Managing Director of Nighthawk commented "Since the original
acquisition of the Jolly Ranch project in August 2007 our expectations of
successful future development have increased.  Independent technical evaluations
and studies of historical production wells located on the Bolero and Craig
oilfields drilled in the 1980s by BHP and Anshultz have indicated significant
oil in place and identified additional by-passed oil zones.  Whilst the project
is still at an early stage of development and the usual risk factors apply, the
results of the 3-D seismic programme and the substantial land acquisitions have
greatly increased the upside potential of Jolly Ranch."

David Racher B.Sc (Hons) Geology, who is a consultant to Nighthawk and has over
37 years of experience in the hydrocarbon industry and previously managed the
Lasmo plc onshore US portfolio in Kansas, Louisiana, South Dakota, Texas and
Wyoming, has reviewed and approved the technical information contained in this
announcement.


Enquiries:

 Nighthawk Energy plc                                               01271 882160
 David Bramhill, Managing Director                    office@nighthawkenergy.net 
 www.nighthawkenergy.net

 Hanson Westhouse Limited                                          0113 246 2610
 Tim Feather                                     tim.feather@hansonwesthouse.com
 Matthew Johnson                             matthew.johnson@hansonwesthouse.com

 Bishopsgate Communications Limited                                020 7562 3350
 Dominic Barretto                          dominic@bishopsgatecommunications.com



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