Nighthawk provided an update on the recompletion and completion operations underway on existing wells at Jolly Ranch and an upcoming drilling program.

Highlights Three completions/recompletions undertaken since January Focus remains on finishing the current series of completions and recompletions in line with the previously announced program Four new wells planned targeting the Pennsylvanian Atoka and Cherokee Shales with up to a further three shallower wells in the Middle Mist area of Jolly Ranch, targeting the younger Cretaceous aged Niobrara Shale formation and 'J' sands Interim results for the period ended December 31, 2010 are expected to be released in the week commencing March 28, 2011 Update on Completion Operations The previously announced completion and recompletion work continues with three of the six wells having been completed. Two of these wells, the Craig 8-1 and Craig 4-33, have been placed on pump for a period of test production with the third, the Williams 10-27, expected to be placed on pump in due course.

Craig 8-1 Following the review of pulsed neutron logging results, the well has been acidized, but not fracture stimulated, in the new perforations in the Lower Atoka and in existing perforations in the Cherokee. The well has been placed on pump and is currently producing in a range between 10-30 BOPD gross. The well will be assessed for fraccing at a later date.

Williams 10-27 The well was acidized and then fracced in zones in the Lower Atoka at the end of February and is currently flowing back fluid from this exercise. The first few hundred barrels of fluid returned included up to a 50% oil cut. A new fracture stimulation combination of various sand sizes and 4,000 bbls of fluid were used to stimulate Lower Atoka shales and sandstones through new perforations.

The well will be placed on pump in due course and production rates monitored.

Craig 4-33 The well was acidized in zones in the Cherokee, Upper and Lower Atoka and placed on pump and is currently producing between 20-30 BOPD gross.

Further activities intended to enhance production from the following wells are now planned.

Tags: Nighthawk Energy plc