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Nighthawk Energy enters into a farm-out agreement


Published Oct 30, 2013
Nighthawk Energy provides Cisco Springs update

Nighthawk has entered into a farm-out agreement with an undisclosed private, Denver-based oil and gas company (Farmee) covering 4,572 acres of its 100% owned and operated Jolly Ranch project in the Denver-Julesburg Basin, Colorado.

Highlights of the Agreement

◾ Farm-out area covers 4,572 acres (the "Farm-out Acreage"), currently 100% Nighthawk working interest, in the immediate vicinity of Limon, approximately fifteen miles south of Nighthawk's Arikaree Creek oil-field ◾ Farmee to earn a 50% working interest (40% net revenue interest) by drilling as operator three vertical wells on the Farm-out Acreage ◾ Farmee to carry all costs for Nighthawk's 50% working interest through to the tanks ◾ Wells will be drilled with primary targets in the unconventional Pennsylvanian Cherokee and Marmaton horizons ◾ Drilling to commence no later than 30 April 2014 ◾ Farmee is producing from the unconventional Pennsylvanian Cherokee and Marmaton horizons on adjacent acreage ◾ Well locations will be mutually agreed and will benefit from Farmee's recent 3D seismic survey covering the Farm-out Acreage and adjacent Farmee licences ◾ Nighthawk and the Farmee will exchange 3D seismic information

Tags: Nighthawk Energy plc




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