(HAWK.L) Nighthawk Energy PLC Buy/Sell

RNS Number : 4234C Nighthawk Energy plc 12 November 2009

Nighthawk Energy plc

("Nighthawk" or the "Company")

Result of Annual General Meeting

The Board of Nighthawk (Tickers: AIM: HAWK and OTCQX: NHEGY), the US focused hydrocarbon production and development company, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed.

Enquiries:

Nighthawk Energy plc
David Bramhill, Managing 01271 882160
Director 020 7887 1454
Tim Heeley, Commercial 07956 525433

Director

Hanson Westhouse Limited 020 7601 6100
Tim Feather tim.feather@hansonwesthouse.com
Matthew Johnson matthew.johnson@hansonwesthouse.com
Bishopsgate Communications 020 7562 3395
Limited nick@bishopsgatecommunications.com

Nick Rome

Financial Dynamics 020 7831 3113
Ben Brewerton ben.brewerton@fd.com
Ed Westropp edward.westropp@fd.com

This information is provided by RNS The company news service from the London Stock Exchange

RAGFFAFDESUSEDF

RNS Number : 3814C Nighthawk Energy plc 12 November 2009

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

JOLLY RANCH UPDATE

The directors of Nighthawk Energy plc, the US focused hydrocarbon development and production company (Tickers: AIM: HAWK and OTCQX: NHEGY), are pleased to announce an operational update in respect of the ongoing drilling, well completion and other development activities at the Jolly Ranch project.

Highlights

RNS Number : 0230C Nighthawk Energy plc 05 November 2009

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Nighthawk Energy plc

2. Reason for the notification

An acquisition or disposal of voting rights

Disclosure of holdings follows the sale of Insight Investment Management Limited on 2 November 2009. This notification supersedes any notifications previously issued by Lloyds Banking Group plc.

3. Full name of person(s) subject to the notification obligation:

Lloyds Banking Group plc

4. Full name of shareholder(s) (if different from 3):

See section 9

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

2 November 2009

6. Date on which issuer notified:

4 November 2009

7. Threshold(s) that is/are crossed or reached:

Direct/Indirect decrease to below 8%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares if Situation of previous to the Triggering Resulting Situation after the triggering transaction
possible using ISIN code transaction
Number of shares Number of voting Number of shares Number of voting % of voting rights
rights rights
Direct Direct Indirect Direct Indirect
GB00B156TD53 27,908,795 27,908,795 11,501,756 11,501,756 13,945,075 3.489% 4.230%

B: Financial Instruments

Resulting Situation after the triggering transaction
Type of Financial Instrument Expiration Date Exercise / Number of Voting % of voting rights
Conversion Period rights that may be
/Date acquired if the
instrument is
exercised /
converted

Total (A + B)

Number of Voting Rights % of voting rights
25,446,831 7.720%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable

23,619,599 shares (7.165%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct/Indirect Interests).

Within these holdings 8,469,190 shares (2.569%) are managed on behalf of Clerical Medical Managed Funds Limited a wholly owned subsidiary of Clerical Medical Investment Group Limited, and a further 2,103,653 shares (0.638%) are managed on behalf of Clerical Medical Investment Group Limited, a wholly owned subsidiary of HBOS Financial Services Limited, a wholly owned subsidiary of HBOS Insurance & Investment Group Limited a wholly owned subsidiary of HBOS plc, a wholly owned subsidiary of Lloyds Banking Group plc. These holdings are therefore disclosed as an overall Direct Interest.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Notification using the total voting rights figure of 329,639,480

14. Contact name:

Matthew Wilson

15. Contact telephone number:

0113 235 7729

Nighthawk Energy plc 01271 882160

David Bramhill

Hanson Westhouse Limited 0113 246 2610

Tim Feather / Matthew Johnson

This information is provided by RNS The company news service from the London Stock Exchange

HOLUVARRKBRARAA

RNS Number : 8187B Nighthawk Energy plc 03 November 2009

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

COMMENCEMENT OF GAS PRODUCTION AT XENIA

ACQUISITION OF 50% OF BOURBON COUNTY PIPELINE

OPC INTERIM FIGURES ON XENIA

The directors of Nighthawk Energy plc, the US focused hydrocarbon and production company (Tickers: AIM: HAWK and OTCQX: NHEGY), are pleased to announce an update in respect of the Xenia acreage within the Revere project.

Summary

RNS Number : 3564A
  Nighthawk Energy plc
  07 October 2009
   

Nighthawk Energy plc ('Nighthawk' or 'the Company')

Final Results

Nighthawk, the US focused development and production company, today announces its final results for the year ended 30 June 2009.

Highlights

* Financial highlights for year ended 30 June 2009:

*     * Non-current assets increased by 60% from US$47.00 million to US$75.18 million

* Administrative costs reduced by 23%

* Operating loss reduced by 42%

*     Gross P50/most likely oil in place of 1.462 billion barrels of oil calculated by Schlumberger Data & Consulting Services, in July 2009 covering 246,000 of the 370,000 gross acre Jolly Ranch project

*     Jolly Ranch shale formations likely to be laterally continuous across total area of 370,000 acres

*     Gross P50/most likely oil in place of 210.51 million barrels calculated by Oilfield Production Consultants on Devon and Buchanan sections of the Revere Project

*     Successful fund raising in July 2009 of US$37 million

2010 Objectives

* Increase P50 reserves through the drill bit    * Increase production and revenue base

* Continue to delineate and develop unconventional and conventional resources at Jolly Ranch, including the drilling of a number of horizontal wells

* Continue development work at Revere
 
 

David Bramhill, Managing Director of Nighthawk commented: "Whilst no reminder is needed of the volatility and tough operating conditions all have seen during the last year, Nighthawk has emerged with a strong balance sheet and a portfolio of assets which the Board is confident will continue to add tremendous value into 2010 and beyond. The independent reviews of our core assets, Jolly Ranch and Revere, have reinforced our long held belief we have two "company making" projects in development. We look forward to updating the market on their progress over the next 12 months."

Enquiries:

 Nighthawk Energy plc
 David Bramhill, Managing                                            01271 882160
 Director                                                           020 7887 1454
 Tim Heeley, Commercial                                              07956 525433
 Director

 Hanson Westhouse Limited                                           020 7601 6100
 Tim Feather                                      tim.feather@hansonwesthouse.com
 Matthew Johnson                              matthew.johnson@hansonwesthouse.com

 Bishopsgate Communications                                         020 7562 3395
 Limited (Media Representation)                nick@bishopsgatecommunications.com
 Nick Rome

 Financial Dynamics                                                 020 7831 3113
 Ben Brewerton                                               ben.brewerton@fd.com
 Ed Westropp                                               edward.westropp@fd.com

Managing Director's Statement

I am pleased to report to the shareholders of Nighthawk on continuing growth and progress, particularly in respect of our two cornerstone projects, Jolly Ranch and Revere.  Both projects have seen substantial development during the last 12 months and have continued to add value to the Company.  I am confident that this expansion will increase as we move into the next pivotal phase of project advancement.

Moving forward our strategy for growth remains to:

* Expand the resource and reserve base and increase the production profile through a focused appraisal and development programme

*     Create excellent returns for shareholders by building a scalable oil and gas company focused on low risk but high reward assets in a politically and fiscally stable environment

We need no reminding of the tough economic environment during the year under review.  With most direct relevance to Nighthawk, we saw the oil price hit a low not seen for many years and an unfavourable £/US$ exchange rate.  Despite these adversities, the Board decided to continue with an aggressive development and drilling programme as planned.  Approximately US$30 million net was invested during the year in our hydrocarbon projects across the US mid-west in partnership with Running Foxes Petroleum Inc. ("Running Foxes") which is the operator of all of the projects and retains in most cases a 50% interest.  For the sake of clarity, Running Foxes contributes dollar for dollar on a "heads up" basis on each project.  Unlike many European deals there is no promote added and all costs are divided on a pro rata basis.

The result of our decision to continue drilling and development as planned has enabled the Company to add value and report to shareholders on our two major hydrocarbon projects.  In addition, the oil price has regained lost ground and as at 6 October 2009 was trading around US$70 per barrel and the pound has performed positively against the dollar, lowering our development costs. 

Jolly Ranch

Nighthawk initially invested in Jolly Ranch, located a two-hour drive from Denver, Colorado, in August 2007 with a land purchase of approximately 50,000 acres.  Even at that time we had high expectations of the project.  Since then, through patient and careful negotiation with local landowners, our land base has grown to approximately 370,000 gross acres, a scale more typically associated with oil majors.

The Jolly Ranch project comprises three areas, Jolly Ranch, Middle Mist and Mustang Creek, situated in Lincoln, Elbert and Washington Counties, Colorado.  Nighthawk holds a 50% interest in the project and Running Foxes holds the remaining percentage interest.

To date, 10 vertical wells of 7,500-9,000 feet have been drilled on the project, all of which have encountered multiple pay horizons.  Nine of these wells have been completed as production wells and one is being utilised as a water disposal well, lowering the costs associated with water transportation.  A further two shallower wells of 3,000-4,000 feet, to test the Codell formation, have been drilled and cased for production.

The last six months have seen the testing of various productive formations to determine the optimum production plan and also gain a greater understanding of this new combined conventional / non-conventional play.

Production, although important, has not been a priority.  As stated in the Half Yearly Report for the period ended 31 December 2008, we believe that our efforts are best focused on proving up the extent of the asset to establish the project as a world-class non-conventional shale play, rather than concentrating on generating maximum production at this stage.

We have continued this approach and the results to date have confirmed our belief that we have a major interest in a world-class project in the making.  In July 2009, Schlumberger Data & Consulting Services completed an independent evaluation of the oil in place at the Jolly and Craig Ranch fields covering 246,000 gross acres of the 370,000 held within the project.  The study was undertaken to assess resources in place under Nighthawk's acreage in the Pennsylvanian (Upper Carboniferous) Marmaton, Cherokee and Atoka formations.  The P50, or most likely, oil in place was calculated to be 1.462 billion barrels.  In addition, a further model encompassing an area of 885,988 acres was generated and evaluated, the results of which concluded that the regional continuity of the formations was such that the resources in place are likely to be laterally continuous across the total acreage.

A full analysis of the production history of the area was outside the scope of the study, however results to date were reviewed in order to validate the petrophysical and geological interpretations.  Actual production results provided evidence for successful play concepts and cross-validated oil in place calculations.  Production histories from previously drilled wells in the immediate study area were reviewed to make general observations on Atoka and Cherokee production.  Results from offset current activity in Lincoln County, from the Marmaton, Cherokee and Atoka were also reviewed.

Shallow production from the Cretaceous D and J sands at the Bluebird field, contained within the project acreage, were also reviewed as these sands are present within the study area and could represent additional upside if identified in an appropriate trap.

Nighthawk and Running Foxes have been producing and selling oil for the last nine months from various conventional and non-conventional formations during both test and continuous production from numerous wells.

The Marmaton, a conventional oil formation, has been a proven producer for decades and companies such as BHP America, Norske Hydro, SOHIO, Anschultz, Wepking-Fullerton and Newfield have all achieved viable production from this formation and other conventional zones.  The historic recoverability factors have been in the region of the low twenties percentile.

There remains much work to be completed such as further delineating the oil in place.  Recovery factors need to be established using modern completion practices and techniques.

Nighthawk has commenced a major development programme which is planned to continue for the next twelve months.  At least a further 20 wells have been permitted, some of which will be lateral.  In late September 2009 our first lateral well, the Craig 15-32-L reached Total Depth of 8,554 feet of which 2,006 feet was the horizontal leg through the Cherokee formation.  This well has been cased and the horizontal leg will be fracced ahead of production.

The natural progression is to continue the pace of development, eliminating the normal uncertainties of a project of this magnitude, such that firm economics can be established.  An extensive programme, as indicated above, comprising vertical and lateral wells and selected 3D seismic acquisition over key areas is currently underway. 

Revere

Revere, a major waterflood project covering in excess of 40,000 acres, is the product of the consolidation of the Devon Oilfield, Buchanan and Worden and Xenia projects, all located on and around the State border between Kansas and Missouri.

The reservoir is underpressured, therefore there is little natural energy to bring the oil to the surface.  In this type of project, water injection is commonly used to displace oil to the production wells.  This is a straightforward process which has been applied successfully for decades on similar oilfields in the US and elsewhere in the world.  Typical recovery factors in this type of waterflood project would be expected to range between 15-25% with careful design and implementation of the waterflood.

Activity on the project has been intense.  There are currently 140 wells on primary production, 65 wells awaiting completion, 38 water injection wells at various stages of injection, one salt water disposal well active and a further 99 wells permitted.

Gross primary production from Revere is currently in excess of 150 barrels of oil equivalent per day and as the waterflood injection takes effect and new production wells are completed and put onstream this figure is expected to increase dramatically.  A 12 kilometre gas pipeline at Xenia, part of the Revere project, in which Nighthawk holds a 50% interest, is under construction and will be linked to the Bourbon County pipeline.  Initial gas production from Xenia is expected to be approximately+ 500,000 cubic feet per day, plus associated oil.  Oilfield Production Consultants Limited ("OPC") is currently conducting a study of the Xenia section of the project.

Pipelines, surface facilities and other production infrastructure are being installed throughout the project area and a drilling programme is ongoing targeting the shallow Bartlesville and McClouth formations at depths of less than 800 feet.  Wells are being drilled and completed at an average of two per week.  A further 200 wells have been budgeted for as part of the ongoing development programme.  The shallow reservoir depth results in a very low drilling cost per well of approximately US$50,000 including completion.  In addition, the low reservoir pressure allows for the use of relatively inexpensive surface and production facilities.  No high cost pressure equipment or pipelines are required.  Following scoping simulation runs by OPC which has completed an independent review of certain sections of Revere, oil production rates ranging from 5-20 barrels a day are possible from each individual production well. 

OPC has also recently completed a study of the Devon and Buchanan and Worden sections of Revere including a Monte Carlo probabilistic calculation of Stock Tank Oil Originally in Place.  The P50, or most likely figure, was calculated to be 210.51 million barrels (gross), a figure likely to increase significantly on further development of outlying acreage. 

Revere is a low cost, high upside development project and expectations remain for the project to become a significant contributor in respect of both production and the addition of further oil and gas reserves/resources, particularly following the planned major expansion during the remainder of 2009 and beyond.

Project Prioritisation

Nighthawk, together with its partner Running Foxes, has drilled over 250 commercial wells during the past two years spread over the whole portfolio of projects.  As reported to shareholders in my statement last year, ongoing evaluation of the results obtained from these projects both in-house and, more importantly from a validation point of view, independently from external consultants, Schlumberger and OPC, demonstrate the difference in scalability and the range of resource and potential future production.

The directors' belief in Jolly Ranch and Revere has been confirmed independently and in the case of Jolly Ranch we are of the opinion following the findings of the Schlumberger report, that we have the makings of a future world-class project.

The potential returns from these two ventures are in multiples of our other projects and therefore cash resources have been focused in the past year on their development.  This trend will continue.

In June 2009 the Company sold its 50% interest in the Centurion project for US$5 million to Osceola Hydrocarbons Limited.  This sale price represented full expenditure on the project since its acquisition and a profit of approximately 10% on the transaction.

Cisco Springs, located in Utah, although a non-core project, has 2P reserves of some 24 million barrels of oil equivalent and has in place considerable production facilities making this project a valuable asset, even more so when gas prices begin to firm up in the future.

Nighthawk also holds an 80% interest in Cliffs, a project located within Illinois Basin. The potential disposal of this interest is under review. 

Corporate and Financial

During the period under review Nighthawk conducted two institutional share placings raising an aggregate of approximately US$18 million, strengthening the Company's capital base and ensuring the timely and continued development of its core projects.

In August 2009 Nighthawk raised approximately US$37 million via an institutional placing.  The Consolidated Balance Sheet at 30 June 2009 does not reflect the proceeds from this placing.

As a result of this funding, Nighthawk is in a better financial position than at any time in its history and funds are in place for the development of its core projects for at least the next 12 months.  In addition, the Company remains debt free.

The funds raised will be/have been used to:

* Drill a further 20 wells at Jolly Ranch, some of which will be lateral, construct production and oil storage facilities and the acquisition of 3D seismic over selected key areas

*     Drill up to 200 oil production and water injection wells at Revere and construct production facilities

* Construct gas gathering facilities and Xenia pipeline at Revere

The financial results for the period continue to reflect the operations of an active hydrocarbon development company.

In comparison to the financials of 2008 on a like-for-like basis:

* Non-current assets increased by 60% from US$47.00 million to US$75.18 million

* Total equity increased by 19%

* Revenue increased by 258%

* Administrative costs reduced by 23%

*     Operating loss reduced by 42%

During the period under review Nighthawk strengthened its senior management team and board with the appointment of Tim Heeley as Commercial Director and Michael Thomsen as Executive Chairman.

Due to the location of its assets, Nighthawk has recently established an American Depositary Receipt facility ("ADR") programme, fully sponsored by The Bank of New York Mellon, which is acting as our depositary bank. 

In addition, Nighthawk now has a quotation on the OTCQX International platform in New York.  The quotation is complementary to the Company's AIM quotation, which continues to serve as its principal listing.

Nighthawk has engaged SMH Capital Inc., the broker dealer subsidiary of Sanders Morris Harris Group (NASDAQ: SMHG), to serve as the Principal American Liaison ("PAL") in connection with the Company's OTCQX quotation, to provide capital markets advisory, strategic investor communication, in-depth company research and analysis plus trading monitoring and services in the US.

Financial Dynamics has also been appointed, to work alongside our financial public relations consultants, Bishopsgate Communications, to enhance our communication with analysts and institutional investors as the Company expands.

I would like to take this opportunity to thank our shareholders, my fellow directors and management, advisers in the UK and US and Steve Tedesco and his team from Running Foxes - responsible for introducing and operating our projects.

The next 12 months have the potential to be transformational for Nighthawk as we continue the development of our core projects and I look forward to reporting further progress.

David Bramhill

Managing Director

6 October 2009

This announcement was approved by the Board of Directors on 6 October 2009.

Consolidated Income Statement 

for the year ended 30 June 2009

                                               Notes         2009         2008
                                                              US$          US$
                       Continuing operations:

 Revenue                                                  497,876      138,998
 Unsuccessful exploration costs                            -         (316,370)

 Gross profit / (loss)                                    497,876    (177,372)

 Administrative expenses                              (2,511,055)  (3,272,928)

 Operating loss                                       (2,013,179)  (3,450,300)

 Finance income                                           338,121      985,243

 Loss on sale of available-for-sale
 investments                                             (19,587)     (26,421)

 Loss before taxation                                 (1,694,645)  (2,491,478)

 Taxation                                                       -            -

 Loss for the financial year from continuing
 operations                                           (1,694,645)  (2,491,478)

 Discontinued operations:

 Profit for the financial year from
 discontinued operations                                  396,557            -

 Loss for the financial year                          (1,298,088)  (2,491,478)

 Attributable to:
 Equity shareholders of the Company                   (1,298,088)  (2,491,478)

 Loss per share from continuing and
 discontinued operations
 Basic and diluted loss per share (US cents)               (0.55)       (1.34)

 Loss per share from continuing operations
 Basic and diluted loss per share (US cents)      2        (0.72)       (1.34)

Consolidated Balance Sheet 

as at 30 June 2009

                                               Notes         2009         2008
                                                              US$          US$
 Assets
 Non-current assets
 Property, plant and equipment                         11,769,386    2,196,494
 Intangible assets                                     61,911,429   41,499,037
 Available-for-sale financial assets                    1,497,941    3,305,756
                                                       75,178,756   47,001,287

 Current assets
 Trade and other receivables                              179,824      134,539
 Cash and cash equivalents                              5,932,315   21,067,305
                                                        6,112,139   21,201,844

 Total assets                                          81,290,895   68,203,131

 Equity and liabilities
 Capital and reserves attributable to the
 Company's equity shareholders
 Share capital                                          1,219,415      998,622
 Share premium account                                 84,546,504   67,977,242
 Foreign exchange translation reserve                 (2,698,549)    (290,050)
 Retained earnings                                    (5,638,419)  (3,707,281)
 Share-based payment reserve                              815,639      748,584
 Merger reserve                                           180,533      180,533

 Total equity                                          78,425,123   65,907,650

 Current liabilities
 Trade and other payables                               2,865,772   2,295,481 

 Total liabilities                                      2,865,772    2,295,481

 Total equity and liabilities                          81,290,895   68,203,131

Consolidated Cash Flow Statement 

for the year ended 30 June 2009

                                             Notes          2009          2008
                                                             US$           US$
 Cash outflow from operating activities        3
                                                     (1,990,684)     (608,593)

 Cash flow from investing activities
 Purchase of intangible assets                      (23,749,531)  (27,111,791)
 Proceeds on disposal of intangible assets                     -         6,402
 Purchase of property, plant and equipment          (10,457,763)   (1,094,380)
 Proceeds on disposal of property, plant                       -         6,208
 and equipment
 Purchase of financial assets                          (185,557)   (1,755,506)
 Proceeds on disposal of financial assets                747,153       305,974
 Dividends received                                      138,051        98,580
 Proceeds on disposal of project                       5,000,000             -
 Interest received                                       200,070       886,663

 Net cash used in investing activities              (28,307,557)  (28,657,850)

 Cash flow from financing activities
 Proceeds on issue of new shares                      17,663,460    29,207,213
 Expenses of new share issue                           (873,405)   (1,396,094)

 Net cash generated from financing                    16,790,055    27,811,119
 activities

 Net decrease in cash and cash equivalents          (13,508,186)   (1,455,324)

 Cash and cash equivalents at beginning of            21,067,305    22,611,746
 financial year

 Effects of exchange rate changes                    (1,626,804)      (89,117)

 Cash and cash equivalents at end of                   5,932,315    21,067,305
 financial year

Notes

1.    Basis of Preparation

This announcement has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("EU") ("IFRS") applied in accordance with the provisions of the Companies Act 2006.

IFRS is subject to amendment and interpretation by the International Accounting Standards Board ("IASB") and the International Financial Reporting Interpretations Committee ("IFRIC") and there is an ongoing process of review and endorsement by the European Commission. These accounting policies comply with each IFRS that is mandatory for accounting periods ending on 30 June 2009.

The accounting policies applied for the year ended 30 June 2009 are consistent with the year ended 30 June 2008.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of available-for-sale investments which are carried at fair value. The principal accounting policies have been consistently applied to all periods presented.

2.    Loss per share

Basic loss per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. 

Given the Group's reported loss for the year, share options are not taken into account when determining the weighted average number of ordinary shares in issue during the year and therefore the basic and diluted earnings per share are the same.

                                                            2009         2008 
 Basic loss per share                                    US cents     US cents

 Loss per share from continuing operations                 (0.72)            -
 Earnings per share from discontinued operations             0.17            -
 Total basic loss per share (US cents)                     (0.55)       (1.34)

                                                             2009         2008
                                                              US$          US$

 The earnings and weighted average number of
 ordinary 
 shares used in the calculation of basic earnings
 per share are as follows:

 Earnings used in the calculation of total basic and  (1,298,088)  (2,491,478)
 diluted earnings per share

 Profit for the year from discontinued operations         396,557            -
 used in the calculation of basic and diluted
 earnings per share from discontinued operations

 Earnings used in the calculation of basic earnings   (1,694,645)  (2,491,478)
 per share from continuing operations

                                                             2009         2008

 Number of shares

 Weighted average number of ordinary shares for the   234,475,130  185,983,238
 purposes of basic loss per share

 If the Company's share options were taken into
 consideration in respect of the Company's weighted
 average number of ordinary shares for the purposes 
 of diluted earnings per share, it would be as
 follows:

 Number of shares
 Weighted average number of ordinary shares for the   241,100,472  194,743,581
 purposes of diluted earnings per share

3.    Cash outflow from operating activities

                                                            2009         2008
                                                             US$          US$

 Loss for the financial year                         (1,298,088)  (2,491,478)
 Investment income                                     (338,121)    (985,243)
 Transfer to share option reserve                         67,055      665,516
 Loss on disposal of available-for-sale investments       19,587       26,421
 Profit on disposal of property plant and equipment            -      (1,311)
 Gain on disposal of business                          (370,321)            -
 Depreciation                                             11,892       78,100
 Amortisation                                              4,353        4,730
 Impairment of exploration costs                               -      316,370
 Net foreign exchange (gain) / loss                    (181,000)      144,677
                                                     (2,084,643)  (2,242,218)
 Changes in working capital
 (Increase)/decrease in trade and other receivables     (45,285)      263,096
 Increase in trade and other payables                    139,244    1,370,529

 Net cash outflow from operating activities          (1,990,684)    (608,593)

4.    Publication of non-statutory accounts

The financial information set out in this announcement does not comprise the Group`s statutory accounts for the years ended 30 June 2009 or 30 June 2008.

The financial information has been extracted from the statutory accounts of the Company for the years ended 30 June 2009 or 30 June 2008. The auditors reported on those accounts; their reports were unqualified and did not contain a statement under either section 498(2) or section 498(3) of the Companies Act 2006 or section 237(2) or section 237(3) of the Companies Act 1985 respectively and did not include references to any matters to which the auditor drew attention to by way of emphasis.

The statutory accounts for the year ended 30 June 2008 have been delivered to the Registrar of Companies, whereas those for the year ended 30 June 2009 will be delivered to the Registrar of Companies following the Company`s Annual General Meeting.

5.    Annual Report and AGM

The Annual Report will be available from the Company`s website, www.nighthawkenergy.com, from 7 October 2009 and will be posted to shareholders by 15 October 2009. The Annual Report contains notice of the Annual General Meeting of the Company which will be held at 11.00 a.m. on 12 November 2009 at the offices of Osborne Clarke, One London Wall, London  EC2Y 5EB.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
FR FSUFUMSUSELS

LONDON, Oct 5 (Reuters) - Nighthawk Energy Plc:

RNS Number : 1963A Nighthawk Energy plc 05 October 2009

Nighthawk Energy plc

Revere Project Operational Update

The directors of Nighthawk Energy plc ("Nighthawk"), the US focused hydrocarbon production and development company, are pleased to announce an operational update in respect of the Revere project.

Revere is a waterflood project covering in excess of 40,000 acres and is the product of the consolidation of the Devon Oilfield (Nighthawk 80%), Buchanan and Worden (Nighthawk 50%) and Xenia (Nighthawk 50%) projects, all located on or around the State border of Kansas and Missouri. Running Foxes Petroleum Inc., the operator, holds the remaining interests.

Revere is a relatively low cost, high upside development project. The shallow reservoir depths range from 350 to 800 feet and the Bartlesville and McClouth are the primary production formations. Nighthawk expects this core project to become a significant contributor in terms of reserves, production and cash flow.

In June 2009, Oilfield Production Consultants Limited ("OPC"), independent consultants, completed technical studies and an evaluation of the STOOIP ("Stock Tank Oil Originally in Place") at the Devon and Buchanan and Worden sections of Revere. An evaluation by OPC of Xenia is ongoing.

OPC reported that the P50, or most likely, STOOIP figure was 210.51 million barrels (gross) and commented within the study that this figure is expected to rise significantly on further development of the outlying acreage.

Recent activity on the project has been intense. There are currently 140 wells on primary production, 65 wells awaiting completion, 38 water injection wells at various stages of injection and one active salt water disposal well. Up to 200 new wells are planned to be drilled, including 99 currently permitted, all of which will be funded from existing cash resources. With a 40,000 acre project area, there are potentially 4,000 well sites on 10 acre spacing.

A new reservoir has been discovered within the Devon area of the project. Three new wells on primary production (without the impact of waterflooding) have been producing at an aggregate rate of 25-30 barrels of oil per day and seven additional wells will be drilled and added to production within this area.

Construction of a 12 kilometre gas pipeline extension at Xenia, with a capacity of 5 million cubic feet of gas per day is nearing completion and production and gas sales are expected to commence during Q4 2009. Initial production is anticipated to be approximately 500,000 cubic feet per day, plus associated oil.

Significant infrastructure is already in place throughout the current Revere development area and is being expanded as the drilling programme continues. Water injection plants have been installed at numerous locations, several oil storage sites constructed and surface flowlines put in place to transport product.

Current gross primary production from Revere is averaging 150 barrels of oil equivalent per day ("BOEPD") (gross). Oil is being trucked to a nearby processing facility and gas is being sold via the third party owned Bourbon County pipeline.

Production is expected to rise to approximately 250 BOEPD (gross) when Xenia commences production and will increase significantly as the waterflood injection, now being applied at numerous locations on the project, takes effect and further wells are drilled and put on stream.

The economics of Revere are robust. OPC reported that oil production rates of 5-20 barrels per day could be expected from each production well following the impact of waterflooding. With a low drilling cost to completion of approximately US$50,000 and assuming a US$50 oil price, a well producing even at the lower end of the expected range would cover the capital cost in approximately seven months.

Primary production of oil before the full impact of water injection is a positive sign for the reservoir potential for producing hydrocarbons. OPC reported that typical recovery rates in this type of waterflood project would be expected to be in the range of 15-25%, using a straightforward water injection process that has been used for decades on similar oilfields in the US and elsewhere in the world.

Managing Director, David Bramhill, commented: "Revere remains a high potential and high reward core project for Nighthawk. Development activity is intense. We have a major expansion programme planned for at least the next 12 months and look forward to reporting further progress."

Tim Heeley B.Eng (Hons) a member of the Society of Petroleum Engineers, Fellow of the Geological Society of London and Chartered Energy Engineer, who is Commercial Director of Nighthawk and has over 12 years of experience in the hydrocarbons industry has approved the technical information contained in this announcement.

Enquiries:

Nighthawk Energy plc
David Bramhill, Managing 01271 882160
Director 020 7887 1454
Tim Heeley, Commercial 07956 525433

Director

Hanson Westhouse Limited 020 7601 6100
Tim Feather tim.feather@hansonwesthouse.com
Matthew Johnson matthew.johnson@hansonwesthouse.com
Bishopsgate Communications 020 7562 3395
Limited nick@bishopsgatecommunications.com

Nick Rome

Financial Dynamics 020 7831 3113
Ben Brewerton ben.brewerton@fd.com
Ed Westropp edward.westropp@fd.com

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 0147A Nighthawk Energy plc 01 October 2009

Nighthawk Energy plc

Jolly Ranch Craig 15-32-L Lateral Well

The directors of Nighthawk Energy plc ("Nighthawk") (AIM: HAWK), the US focused hydrocarbon production and development company, are pleased to announce that the Craig 15-32-L well, the first lateral well to be drilled at the Jolly Ranch Group project, has reached Total Depth of 8,554 feet of which 2,006 feet was the horizontal leg through the Cherokee formation. The well is currently being cased and the horizontal leg will be fracced ahead of production.

The Jolly Ranch project is located in Lincoln, Elbert and Washington Counties, Colorado. Nighthawk holds a 50 per cent. working interest in the project and the operator, Running Foxes Petroleum Inc. holds the remaining interest.

Tim Heeley B.Eng (Hons) a member of the Society of Petroleum Engineers, Fellow of the Geological Society of London and Chartered Energy Engineer, who is Commercial Director of Nighthawk and has over 12 years of experience in the hydrocarbons industry has approved the technical information contained in this announcement.

Enquiries:

Nighthawk Energy plc
David Bramhill, Managing 01271 882160
Director 020 7887 1454
Tim Heeley, Commercial 07956 525433

Director

Hanson Westhouse Limited 020 7601 6100
Tim Feather tim.feather@hansonwesthouse.com
Matthew Johnson matthew.johnson@hansonwesthouse.com
Bishopsgate Communications 020 7562 3395
Limited nick@bishopsgatecommunications.com

Nick Rome

Financial Dynamics 020 7831 3113
Ben Brewerton ben.brewerton@fd.com
Ed Westropp edward.westropp@fd.com

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 9464Y Nighthawk Energy plc 14 September 2009

14 September 2009

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

OTCQX Quotation Obtained in United States

Fully Sponsored American Depository Receipt Programme Established

Nighthawk Energy plc (AIM: HAWK), the US focused hydrocarbon development and production company, is pleased to announce a number of corporate initiatives given the increasing interest in the Company within the United States.

Nighthawk has obtained a quotation (OTCQX: NHEGY) on the OTCQX International platform. The OTCQX quotation, which will take effect today the 14 September 2009, is complementary to Nighthawk's London Stock Exchange AIM quotation, which will continue to serve as the principal trading platform for the Company's ordinary shares.

In addition, under a separate agreement, Nighthawk has engaged SMH Capital Inc., the broker-dealer subsidiary of Sanders Morris Harris Group (NASDAQ: SMHG), to serve as the Principal American Liaison ("PAL") in connection with Nighthawk's OTCQX quotation, providing capital markets advisory, strategic investor communication, in-depth company research, analysis and trading monitoring services.

The Company has also undertaken a Level 1 American Depository Receipt ("ADR") programme (20 ordinary shares to 1 ADR) fully sponsored by The Bank of New York Mellon. The ADR's will be created using the existing issued share capital of the Company.

Nighthawk has appointed Financial Dynamics Limited to enhance the Company's communication with analysts and institutional investors, both in the US and UK, as the Company expands.

David Bramhill, CEO of Nighthawk, stated:

"Quotation on the OTCQX International market and the establishment of the ADR programme will facilitate ownership for a broader range of investors.

"We are pleased to be working with The Bank of New York Mellon, SMH Capital and Financial Dynamics and we are confident that their expertise and capabilities will assist in driving our strategy forwards with our existing advisers on both sides of the Atlantic."

Enquiries:

Nighthawk Energy plcDavid 01271 882160020 7887
Bramhill, Managing DirectorTim 145407956 525433

Heeley, Commercial Director
Hanson Westhouse Limited Tim 020 7601
FeatherMatthew Johnson 6100tim.feather@
hansonwesthouse.
commatthew.johnson@
hansonwesthouse.com

BishopsgateCommunicationsLimit 020 7562
edNick Rome 3395nick@
bishopsgatecommunicat
ions.com

Financial DynamicsBen 020 7831
Brewerton / Ed Westropp 3113Ben.brewerton@fd.
comEdward.westropp@
fd.com

Notes

1 Background on Nighthawk

Nighthawk's operations are US based and focus on two major projects, namely Jolly Ranch and Revere, located in Colorado and Kansas/Missouri respectively.

The Company announced in July 2009 that it had raised £22.4 million in the London Capital markets providing the Company the funding for its development programme which will include the drilling of up to 20 wells, including a number of horizontal wells, and the building of production facilities at Jolly Ranch and the drilling of approximately 200 wells and the building of production facilities at Revere.

Nighthawk also recently announced details of an independent evaluation by Schlumberger Data & Consulting Services, of the hydrocarbons in place at the Jolly and Craig Ranch fields, Lincoln County, Colorado, part of the Jolly Ranch project. The P50, or most likely, oil in place ("OIP") estimate for the 246,000 acres evaluated, out of the total approximate 370,000 gross acres held within the project, using probabilistic methods, was calculated to be 1.462 billion barrels of oil gross.

Similar independent technical reports were undertaken by Oilfield Production Consultants Limited ("OPC") on the Revere project. The OPC reports determine that the most likely case stock tank oil originally in place ("STOOIP") is 210.5 million barrels gross which is expected to increase as additional wells are drilled on the offsetting acreage.

2 Background on The Bank of New York Mellon.

The Bank of New York Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day.

Additional information is available at www.bnymellon.com.

3 Background on SMH Capital

SMH Capital Investment Banking Group is a division of SMH Capital Inc. (member FINRA/SIPC) the broker-dealer and largest subsidiary of Sanders Morris Harris Group (NASDAQ:SMHG). SMH Capital Investment Banking Group is a full-service investment bank providing middle-market companies with public offerings of equity and debt securities, as well as financial-advisory services in connection with mergers and acquisitions, restructuring and recapitalizations. SMH Capital Investment Banking Group provides a full spectrum of investment banking services, including raising capital, research coverage, creating liquidity, trading and market making, merger and acquisition advisory services, sales support, and investor conferences. Additional information is available at www.smhib.com.

4 Background on Financial Dynamics

Founded in 1986, Financial Dynamics is one of the UK's leading financial and corporate communications consultancies. It has a global network of 42 offices as well as affiliates.

Working in industry sector teams and specialist practice groups, Financial Dynamics provides its clients with a full service in financial public relations and investor relations, business-to-business and business-to-consumer communications, crisis and issues management and media and presentation training.

In 2006, Financial Dynamics was acquired by FTI Consulting Inc, a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment.

This information is provided by RNS The company news service from the London Stock Exchange

MSCUARSRKARKAAR

RNS Number : 2315Y Nighthawk Energy plc 28 August 2009

Nighthawk Energy plc ("Nighthawk" or the "Company")

Total Voting Rights and Share Capital

For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 0.25p of Nighthawk in issue as at the date of this notice is 329,639,480 with each share carrying the right to one vote.

There are no shares held in treasury.

The total number of voting rights in the Company is therefore 329,639,480.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Nighthawk, under the Disclosure and Transparency Rules.

Enquiries:

Nighthawk Energy plc 01271 882160

David Bramhill
Hanson Westhouse Limited 0113 246 2610

Tim Feather / Matthew Johnson

This information is provided by RNS The company news service from the London Stock Exchange

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