RNS Number : 8381I
  Nighthawk Energy plc
  25 November 2008
   

    NIGHTHAWK ENERGY PLC

    PLACING OF �5 MILLION


    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 the Company has conditionally raised �5 million (before expenses) through an institutional placing of
new ordinary shares at a price of 20p per share (the "Placing") by its broker, Hanson Westhouse Limited ("HansonWesthouse").

    The net proceeds of the Placing will primarily be applied to the continuing development of the Company's flagship project, the Jolly
Ranch Group in Colorado.

    The Placing

    The Company is proposing to raise �5 million (before expenses) through a conditional placing by HansonWesthouse of 25,000,000 new
ordinary shares (the "Placing Shares") at 20p per share.

    The existing power granted by shareholders to the directors of the Company to allot shares for cash is insufficient to allow the issue
of all of the Placing Shares. Therefore the Placing is conditional, inter alia, on the passing of the necessary resolutions at the annual
general meeting of the Company to be held at the offices of Grant Thornton UK LLP, 30 Finsbury Square, London EC2P 2YU at 11.00 a.m. on 26
November 2008 and is expected to be completed at 8.00 a.m. on 27 November 2008 on admission of the Placing Shares to trading on AIM.

    Following the Placing, there will be 230,543,623 ordinary shares of 0.25p each in issue.

    David Bramhill, Managing Director, commented:

    "Our continuing institutional support led to the Placing being oversubscribed even in current market conditions, demonstrating the
robust nature of our projects.

    "The funds raised through the Placing will principally be applied to continue the aggressive development of the Jolly Ranch Group
project where we have enjoyed 100% drilling success to date. Together with our operator, Running Foxes, we intend to grow production levels
substantially over the next few months.

    "We now have interests in six development and production projects, including the Jolly Ranch Group where results have demonstrated the
potential to transform the value of Nighthawk.  We intend to manage our development portfolio proactively in order to maintain the pace of
the development of our key projects."


    Enquiries:

    
 Nighthawk Energy plcDavid                        01271 882160
 Bramhill, Managing                 office@nighthawkenergy.net
 Directorwww.nighthawkenergy.
 net
                                                              
 Hanson Westhouse                                     0113 246
 LimitedTimFeatherMatthew                     2610tim.feather@
 Johnson                           hansonwesthouse.commatthew.
                                   johnson@hansonwesthouse.com
                                                              
 Bishopsgate Communications                           020 7562
 LimitedMichael Kinirons                          3395michael@
                                 bishopsgatecommunications.com




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