Nighthawk Energy plc Production update (3170D)

TIDMHAWK

RNS Number : 3170D

Nighthawk Energy plc

26 April 2017

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Company Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to production levels.

Production Update

Gross and net* oil production (unaudited), in barrels, for the first three months of 2017 is summarised below.

 
                           Monthly                         Daily Average 
            -------------------------------------  ----------------------------- 
                   Gross               Net              Gross           Net 
              2017      2016      2017     2016     2017    2016    2017   2016 
            --------  --------  -------  --------  ------  ------  -----  ------ 
 
 January     43,599    43,961    30,543   36,017    1,406   1,417   985    1,162 
 February    36,051    40,378    24,786   33,053    1,288   1,407   885    1,153 
 March       38,794    42,720    28,381   34,942    1,251   1,314   916    1,078 
 YTD         118,444   127,059   83,710   104,012   1,316   1,396   930    1,143 
            ========  ========  =======  ========  ======  ======  =====  ======

*Net production is based upon Nighthawk's Net Revenue Interest of approximately 82% save for the Monarch 10-15 well where HAWK has a 16% working interest.

The net production previously disclosed for January 2017 has been adjusted from 35,544 barrels to 30,543 barrels, reflecting the terms of the settlement agreement with Cascade Petroleum LLC (including the Monarch 10-15 well) and sales adjustments. During February 2017, certain wells were not in production as they were being worked over, both as part of routine maintenance and in conjunction with the Arikaree Creek water flood pilot project. These wells have returned to production during March 2017, as reflected in the net daily average production rates

The Company currently expects augmented volumes from its Pilot water flood project to be realized in Q2 of 2017.

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, Executive 
  Chairman                          +1 303 407 9600 
 Kurtis Hooley, Chief 
  Financial Officer            +44 (0) 20 3582 1350 
 
 Stockdale Securities 
  Limited                      +44 (0) 20 7601 6100 
 Richard Johnson 
 David Coaten

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 26, 2017 02:00 ET (06:00 GMT)

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