Nighthawk Energy plc (NHEGY: OTC Link) | Drilling Program Update

Drilling Program Update

Oct 09, 2012

OTC Disclosure News Service

London, United Kingdom –

NIGHTHAWK ENERGY PLC

(“Nighthawk” or “the Company”)

 

 

Drilling Program Update

 

Nighthawk, the US focused shale oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update on its drilling program at its 75% owned, operated project at Jolly Ranch in the Denver-Julesburg Basin, Colorado.

 

 

Highlights

 

·    Installation of facilities to bring the John Craig 6-2 well into permanent production completed and the well is on production

 

·    Pike’s Peak Williams 4-30 well, the second well in the new drilling program, to be flow-tested in next few days

 

·    Drilling of the Knoss 6-21 well, the third well in the program is approaching planned target depth of 8,400 feet

 

·    Steamboat Hansen 8-10 well, the fourth well in the program planned to spud within the next 10 days

 

John Craig 6-2

 

Installation work to bring the John Craig 6-2 well onto permanent production has been completed. A large pump has been installed together with additional storage tank capacity. The well was brought back on-line over the weekend and there will be an update on production levels once the well has settled down. Prior to being taken off-line for the installation work, the well performed strongly under natural flow conditions, producing 1,349 barrels of oil over a continuous period of three days.

 

Pike’s Peak Williams 4-30

 

The Pike’s Peak Williams 4-30 well has been successfully drilled on schedule to a target depth of 7,900 feet. The well has been logged and cased and a section of the Cherokee formation perforated in preparation for production-testing, which will commence in the next few days.

 

Knoss 6-21

 

Drilling of the Knoss 6-21 well commenced on 1 October 2012, has progressed on schedule, and is currently approaching the planned target depth of 8,400 feet. This is the third well in the drilling program and is being drilled on a well-defined horst structure with the primary objectives of the Cherokee and Marmaton formations. As with the other wells in the program, there are attractive secondary targets in the well. Logging and casing of the well is expected to take place this week.

 

Steamboat Hansen 8-10

 

The Steamboat Hansen 8-10 is the fourth well in the drilling program. It is located in the most northerly acreage operated by Nighthawk and in an area where there has been minimal drilling activity. The well is planned to evaluate the Cherokee and other formations in this area and, if successful, would open up significant new drilling opportunities in an area over 35 miles to the north of the current Jolly Ranch core area.       

 

 

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 32 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.

 

– Ends-

 

Enquiries:

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NHEGY/news?id=53545

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