Hammond Project Acquisition
June 28 2010 - 2:00AM
UK Regulatory
TIDMHAWK
RNS Number : 3063O
Nighthawk Energy plc
28 June 2010
Nighthawk Energy plc
("Nighthawk" or the "Company")
Hammond Project Acquisition
Nighthawk, the US focused hydrocarbon development and production company (AIM:
HAWK and OTCQX: NHEGY), is pleased to announce the acquisition of a 50% interest
in the Hammond project ("Hammond") located in Bourbon County, Kansas. Running
Foxes Petroleum Inc. ("Running Foxes") has acquired the remaining 50% interest
and is the operator.
Highlights:
· 4,773 gross acres acquired
· 42 production wells present within the acreage
· Re-evaluation and redevelopment programme underway
· 12 mile pipeline network connects to Nighthawk's 50% owned Bourbon County
Pipeline
Hammond, covering an area of 4,773 gross acres (4,773 net) and held by
production (an indefinite licence term whilst production is maintained), has
been consolidated into the Revere project ("Revere") and is strategically
located adjacent to the Buchanan and Worden leases in Missouri. The Revere
project now covers a total area of approximately 60,000 gross acres.
In addition to the land base described above, significant infrastructure
including a combination of gas and oil production wells, oil tank storage
batteries and pipelines form part of the acquisition.
42 wells (29 gas / 13 oil) are situated within the Hammond acreage and are
classified by the previous operator as production wells, having produced from
coal and shale formations. Whilst some gas wells are in production, a programme
of re-evaluation and redevelopment of these wells is underway. Running Foxes
intends to fracture stimulate the Riverton coals, the AW coals and the Tebo 'B'
shale, which are the main formations present in the gas wells.
The current oil wells, following recompletion, will be brought online, together
with additional production and water injection wells. The reservoir is the
Bartlesville sandstone and is continuous within the Revere project which is
undergoing waterflooding at several sites.
Within the Hammond acreage there is an existing 12 mile pipeline and gas
gathering network. The pipeline is located adjacent to the Buchanan and Worden
leases situated in the Missouri section of Revere, allowing westward
transportation of gas from that project area into the Bourbon County Pipeline of
which Nighthawk holds a 50% interest.
Running Foxes and Nighthawk now control 51 miles of main pipeline and gathering
systems in the region, transporting gas from their Kansas and Missouri
production to the main interstate line.
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
Commercial Director of Nighthawk and has over 13 years of experience in the
hydrocarbons industry, has approved the technical information contained in this
announcement.
Enquiries:
+------------------------------+-----------------------------------------+
| Nighthawk Energy plc | |
| David Bramhill, Managing | 01271 882160 |
| Director | 07956 525433 |
| Tim Heeley, Commercial | 020 7887 1454 |
| Director | |
+------------------------------+-----------------------------------------+
| | |
+------------------------------+-----------------------------------------+
| Westhouse Securities Limited | 020 7601 6100 |
| Tim Feather | tim.feather@westhousesecurities.com |
| Matthew Johnson | matthew.johnson@westhousesecurities.com |
+------------------------------+-----------------------------------------+
| | |
+------------------------------+-----------------------------------------+
| Matrix Corporate Capital LLP | 020 3206 7000 |
| Louis Castro | louis.castro@matrixgroup.co.uk |
| James Pope | james.pope@matrixgroup.co.uk |
+------------------------------+-----------------------------------------+
| | |
+------------------------------+-----------------------------------------+
| Bishopsgate Communications | 020 7562 3395 |
| Limited | nick@bishopsgatecommunications.com |
| Nick Rome | |
+------------------------------+-----------------------------------------+
| | |
+------------------------------+-----------------------------------------+
| Financial Dynamics | 020 7831 3113 |
| Ben Brewerton | ben.brewerton@fd.com |
| Ed Westropp | edward.westropp@fd.com |
| | |
+------------------------------+-----------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQFMGZVGNNGGZZ
Nighthawk Energy (LSE:HAWK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nighthawk Energy (LSE:HAWK)
Historical Stock Chart
From Jul 2023 to Jul 2024
