Nighthawk updates on Jolly Ranch

Nighthawk Energy plc has provided an update on the Jolly Ranch project, located in Lincoln County, Colorado, as well as on the acquisition and initial development of land to the north of Jolly Ranch, which has been named the Middle Mist project.

Nighthawk holds 50% interests in both the Jolly Ranch and Middle Mist projects, with the operator, Running Foxes Petroleum Inc, holding the remaining 50% interests.

Following a 3-D seismic programme over key sections of the Jolly Ranch project area, stratigraphic traps in the Mississippian Spergen and Pennsylvanian Morrow Sandstone were identified, in addition to the Marmaton shoals which remain the primary target of the drilling campaign.

A re-evaluation of the project led to an expanded drilling programme being implemented. Applications for 18 wells have now been approved by the State of Colorado with six further applications pending. Plans are underway to submit an additional 15 drilling applications in the near future.

The first well of the programme, Jolly Ranch 16-1, which is testing multiple objectives, reached total depth of 8,024 feet. Hydrocarbons were encountered during drilling and casing has been set to test the well. The drilling rig has now been moved and is currently drilling the Jolly 2-1 well on Elizabeth, the first of the Four Kings targets.

Source : http://www.nighthawkenergy.net/