New Drilling Report (from StockMarketWire.com)

Nighthawk new drilling programme under way

19 April 2013

StockMarketWire.com – Nighthawk Energy has begun a two well drilling programme at Smoky Hill with the Big Sky 4-11 well spudded on 17 April.

It says the Taos 1-10 well, also at Smoky Hill, will be drilled immediately after Big Sky 4-11.

Both are planned as development wells to increase production and reserves at the newly-named Arikaree Creek oil field, discovered by Nighthawk’s Steamboat Hansen 8-10 well in October.

Nighthawk says further geoscience analysis of 2012 drilling and logging results have confirmed the stacked pay potential across its acreage with at least 10 stratigraphic targets covering both shale/carbonate resource and conventional opportunities.

And it says increased third party drilling activity across south-east Colorado continues to demonstrate the widespread nature of the stacked pay opportunity.

Chairman Stephen Gutteridge said: “Our current two well drilling program is aimed at increasing our production and reserve base and pushing our existing positive cash generation to a higher level.

“Beyond that however, the emerging picture is that we are centrally positioned in a large-scale, stacked formation play that is now undergoing a significant amount of drilling and development by a wide range of companies.

“On our acreage, which is one of the largest land positions in the area, we see a major opportunity for multiple drilling of multiple stratigraphic targets and we will be planning for extensive additional development activity in the second half of the year.”