Nighthawk Energy plc Operational Update (5924F)

TIDMHAWK

RNS Number : 5924F

Nighthawk Energy plc

13 November 2015

13, November 2015

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Operational Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the Company's current year drilling program.

Drilling Update

The Happy Jack 7-10 well was spudded in late October and was drilled to a total depth of 8,400 feet. The well was drilled on an independent structure within the Monarch Joint Development Area. During the drilling of the well, oil shows were encountered in the Marmaton and Cherokee zones within the Pennsylvanian section. The Spergen formation was present in the Mississippian section of the well and had no oil shows. Open hole logs were run to evaluate the potential of the shows and it was determined that there were no zones in the well that would warrant the running of production casing and initiating a completion. Accordingly, the well is being plugged and abandoned.

The last commitment well under the Company's 2015 program, the North Star 1-14, commenced drilling on Thursday, 11 November. The well is permitted to a total depth of 8,900 feet and is designed to test a structure which appears to be consistent to the Company's Keystone 3-7 well which is located to the Northeast of the North Star well and is located in the Broken Spear field.

As a result of drilling results in the Monarch Joint Development Area, the Company's average gross daily production levels for the year are likely to be in the range of 1,700-1,800 barrels per day, lower than market expectations. However, the Company expects revenues to be in line with market expectations.

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

Enquiries:

 
 Nighthawk Energy plc 
 Rick McCullough, Chairman         +1 303 407 9600 
 Kurtis Hooley, Chief 
  Financial Officer           +44 (0) 20 3582 1350 
 
 Westhouse Securities 
  Limited                     +44 (0) 20 7601 6100 
 Alastair Stratton 
 Robert Finlay

This information is provided by RNS

The company news service from the London Stock Exchange

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November 13, 2015 02:00 ET (07:00 GMT)

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