Nighthawk Energy updates Cisco Springs

The directors of Nighthawk Energy announced that following completion of a further four commercial wells at the Cisco Springs project, located in Grand County, Utah, an additional three wells have been added to the current winter drilling program.

Nighthawk holds a 50 per cent. working interest in the project and the operator, Running Foxes Petroleum Inc. (”Running Foxes”), the Denver based private energy company, holds 50 per cent.

An overall drilling and development programme of over 60 wells is ongoing. To date, 28 new wells have been drilled resulting in 26 reported commercial discoveries. Major Drilling, a Salt Lake City based drilling company, commenced a seven well winter drilling programme in late October 2007. The first three wells from this programme, Cisco 7-8-1, Cisco 7-1-1 and Cisco 6-13-2, which were all successful, were reported on 5 December 2007.

The remaining four wells, Cisco 7-2-3, Cisco 6-14-1, Cisco 6-11-2 and Cisco 6-15-4, all encountered commercial quantities of hydrocarbons in multiple pay zones, flow tested while drilling and have been cased as future production wells. All seven wells are currently being tied-in to the recently commissioned, Nighthawk and Running Foxes jointly owned production facilities at Cisco Springs.

As a result of this continuing success, a further three wells have been added to the current drilling program. Access to the new drill sites has been completed and drilling is anticipated to resume on 7 January 2008.

The wells have been evaluated for conventional gas on 40 acre spacing and oil on 10 acre spacing. The majority of the new commercial wells are gas producers, however a notable feature of this program has been the discovery of significant oil zones.