28 June 2016

NIGHTHAWK ENERGY PLC

Production Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces the Company’s latest current production level update.

The Company’s production continues to remain strong.  As shown in the below table, the month on month decline in 2016 is less than Nighthawk experienced in 2015.  The Company believes this is due to continued enhanced recovery projects implemented in the field and better than expected recoveries due to a natural water drive in the Arikaree Creek Field. 

Gross and net* production, in barrels, for the first five months of 2016 is summarised below.

 

Monthly

Daily Average

Gross

Net

Gross

Net

2016

2015

2016

2015

2016

2015

2016

2015

January

43,915

63,605

36,031

52,183

1,417

2,052

1,162

1,683

February

40,809

55,979

33,444

45,843

1,407

1,999

1,153

1,637

March

40,720

59,382

33,392

48,688

1,314

1,915

1,078

1,570

April

40,704

59,919

33,374

49,136

1,357

1,997

1,113

1,638

May

40,358

59,406

33,093

48,710

1,302

1,916

1,068

1,571

 

*Net production is based upon Nighthawk’s Net Revenue Interest of approximately 82%

Bank Negotiation Update

The Company continues in its discussions on new banking arrangements and expects to make a further announcement shortly.

 


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