Cisco Springs Update
January 07 2008 - 2:01AM
UK Regulatory
RNS Number:1627L
Nighthawk Energy plc
07 January 2008
Nighthawk Energy plc
Cisco Springs Update
The directors of Nighthawk Energy plc ("Nighthawk" or "the Company") (AIM:
HAWK), the US focused hydrocarbon production and development company, are
pleased to announce that following completion of a further four commercial wells
at the Cisco Springs project, located in Grand County, Utah, an additional three
wells have been added to the current winter drilling programme.
Nighthawk holds a 50 per cent. working interest in the project and the operator,
Running Foxes Petroleum Inc. ("Running Foxes"), the Denver based private energy
company, holds 50 per cent.
An overall drilling and development programme of over 60 wells is ongoing. To
date, 28 new wells have been drilled resulting in 26 reported commercial
discoveries. Major Drilling, a Salt Lake City based drilling company, commenced
a seven well winter drilling programme in late October 2007. The first three
wells from this programme, Cisco 7-8-1, Cisco 7-1-1 and Cisco 6-13-2, which were
all successful, were reported on 5 December 2007.
The remaining four wells, Cisco 7-2-3, Cisco 6-14-1, Cisco 6-11-2 and Cisco
6-15-4, all encountered commercial quantities of hydrocarbons in multiple pay
zones, flow tested while drilling and have been cased as future production
wells. All seven wells are currently being tied-in to the recently
commissioned, Nighthawk and Running Foxes jointly owned production facilities at
Cisco Springs.
As a result of this continuing success, a further three wells have been added to
the current drilling programme. Access to the new drill sites has been
completed and drilling is anticipated to resume on 7 January 2008.
The wells have been evaluated for conventional gas on 40 acre spacing and oil on
10 acre spacing. The majority of the new commercial wells are gas producers,
however a notable feature of this programme has been the discovery of
significant oil zones.
Wireline log analysis of the final four wells of the programme, and the three
previously announced wells, using Bowler JLog petrophysical software, showing
formations, depth intervals, estimated hydrocarbons in place and total net pay
thickness are set out below:
Well Formation Depth interval Hydrocarbons in place Net pay
(feet) (feet)
Gas (MMscf) Oil
(Mbbl)
Cisco 7-2-3 Dakota - Cedar Mountain - 667 - 1,324 489 - 146
Salt Wash
Cisco 6-14-1 Dakota - Cedar Mountain - 744 - 1,414 252 - 85
Brushy Basin - Salt Wash
Cisco 6-11-2 Dakota - Cedar Mountain - 787 - 1,430 285 - 80.5
Brushy Basin - Salt Wash
Cisco 6-15-4 Dakota - Cedar Mountain - 673 - 1,359 219 - 101
Brushy Basin - Salt Wash
Cisco 7-8-1 Dakota - Cedar Mountain - 562 - 1,173 159 345 59
Brushy Basin - Salt Wash
Cisco 7-1-1 Dakota - Brushy Basin - Salt 636 - 1,291 149 183 89.5
Wash
Cisco 6-13-2 Brushy Basin - Salt Wash 1,194 - 1,312 47 218 50
MMscf = million standard cubic feet of gas
Mbbl = thousand barrels of oil
The previously drilled discovery wells are currently being tied-in to the
newly-commissioned production facilities in order to increase sales of natural
gas throughout 2008 and beyond.
David Bramhill, Managing Director of Nighthawk commented "The benefits of the
2-D seismic survey shot over much of the Cisco Springs acreage in 2007 has been
demonstrated by the results of the latest drilling programme where our success
rate is currently running at 100%.
"Strong progress is being made across all our projects, including at the
recently acquired Buchanan and Worden projects, where results from the initial
test drilling have been encouraging in respect of future development and
potential production in 2008."
David Racher B.Sc (Hons) Geology, who is a consultant to Nighthawk and has over
37 years of experience in the hydrocarbons industry and previously managed the
Lasmo plc onshore US portfolio in Kansas, Louisiana, South Dakota, Texas and
Wyoming, has 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
END
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