Jolly Ranch Operations Update (9882Y)
January 06 2011 - 2:00AM
UK Regulatory
TIDMHAWK
RNS Number : 9882Y
Nighthawk Energy plc
06 January 2011
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Jolly Ranch Operations Update
Nighthawk, the US focused oil development and production company
(AIM: HAWK and OTCQX: NHEGY), announces an update on the
recompletion and completion operations underway at Jolly Ranch.
Highlights
-- Nighthawk is currently focusing on a series of completions
and recompletions on six previously drilled wells
-- The objective of the current exercise is to assess new and
existing horizons to build value and prove up the Jolly Ranch
acreage
Update on Completion Operations
As previously announced, following a period of technical review,
including the undertaking and analysis of Pulsed Neutron Logs, the
current activity on the Jolly Ranch project is the completion and
recompletion of a number of intervals in selected wells, as per the
table below. Pulsed Neutron Logging bombards formations with
neutrons and detects gamma rays from the resulting interactions. It
is rapidly becoming a complete stand-alone, cased-hole evaluation
logging method. These measurements assist in the evaluation of
porosity and the location of bypassed oil zones.
This work reflects the ongoing development of test production
and completion exercises to help establish the optimum horizons and
completion techniques to unlock value across the Jolly Ranch
project.
The current operations will see the following wells either
re-perforated and treated in previously completed zones or
perforated and treated in new horizons.
Well Completion Activity
Craig 4-33 Lower Atoka - acidise existing perforations
Upper Atoka - acidise existing perforations
Cherokee A - perforate and acidise
Williams 10-27 Lower Atoka - multiple new perforations and
acidisations
John Craig 7-2 Upper Atoka - multiple new perforations and
acidisations
Cherokee C - reperforation and acidisation
Cherokee A - new perforation and acidisation
Fort Scott - multiple new perforations and
acidisations
Craig 12-33 Lower Atoka - acidise existing perforations
Cherokee A - new perforation and acidisation
Craig 15-34 Keyes - multiple new perforations and acidisations
Cherokee A - new perforation and acidisation
Craig 8-1 Awaiting interpretation and review of Pulsed
Neutron Log
The results of these operations will be evaluated and used to
plan further completion exercises involving the use of artificial
fracturing and completion consultants with experience of working on
shale oil projects.
In addition, an internal technical assessment is currently being
undertaken to assess the potential to drill in the Northern section
of the acreage held at Jolly Ranch, the Middle Mist area, with a
coiled tubing unit to target the shallower Niobrara formation.
Whilst there is as yet no firm plan to drill this well, it could
form part of the previously announced drilling campaign which is
anticipated to commence in the next few months. The use of a coiled
tubing unit would permit a quick and cost effective method of
testing the Cretaceous aged Niobrara shale formation, which is
currently the target of numerous wells in the Northern part of the
Denver-Julesburg Basin.
Jolly Ranch Well Status
The status of the wells on Jolly Ranch is as follows
Well Previously Reported Status Current Status
John Craig 7-2 Testing In current completion
programme
Craig 4-4 Test production Test production
Craig 4-33 Test production In current completion
programme
Craig 6-4 Testing Test production
Craig 6-4 SWD Waiting on completion Salt water disposal
Craig 7-34 Awaiting recompletion Awaiting recompletion
Craig 8-1 Awaiting recompletion In current completion
programme
Craig 10-28 Testing Test production
Craig 12-28 Testing Test production
Craig 12-33 Test production In current completion
programme
Craig 15-32H Test production Test production
Craig 15-34 Awaiting recompletion In current completion
programme
Craig 16-32 Test production Test production
Jolly Ranch 2-1 Awaiting recompletion Awaiting recompletion
Jolly Ranch 4-13 Awaiting recompletion Awaiting recompletion
Jolly Ranch 10-1 Salt water disposal Salt water disposal
SWD
Jolly Ranch 10-5 Test production Test production
Jolly Ranch 16-1 Awaiting recompletion Awaiting recompletion
Williams 10-27 Awaiting recompletion In current completion
programme
Production Updates
The Company intends to provide end of quarter updates on
production volumes on an ongoing basis. These figures will
represent production net to Nighthawk, including deductions for
Royalty and State Production Taxes. Production figures for the
quarter ended December 2010 will be issued once they have been
fully compiled by the Company's accounts team which is expected to
be in approximately six weeks time.
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 14
years of experience in the hydrocarbons industry, has approved the
technical information contained in this announcement.
Enquiries:
Nighthawk Energy plc 020 3405 1982
Tim Heeley, Chief Executive +1 720 344 5154
Mike Thomsen, Executive Chairman
--------------------------------- ----------------------------------------
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
--------------------------------- ----------------------------------------
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
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