Nighthawk 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.

Tags: Nighthawk Energy plc