Petrohawk Offers of 15 Million Shares of Common Stock

Petrohawk Energy Corporation has filed a preliminary prospectus supplement to its existing shelf registration statement with the U.S. Securities and Exchange Commission relating to an underwritten public offering of 15,000,000 shares of its common stock. The underwriters will also have a 30-day option to purchase up to 2,250,000 additional shares of common stock from Petrohawk.

Net proceeds from the offering are expected to be used to pay down a portion of the outstanding borrowings on Petrohawk's senior revolving credit facility, which will provide financial flexibility to fund its 2008 capital budget and acquisitions.

Lehman Brothers and Merrill Lynch & Co. will act as the joint book-running managers of the offering, and JPMorgan, BMO Capital Markets, RBC Capital Markets, Jefferies & Company, BNP Paribas and Tristone Capital will act as co- managers of the offering. Copies of the preliminary prospectus supplement and related prospectus may be obtained from: Lehman Brothers, c/o Broadridge, 1155 Long Island Avenue, Edgewood, New York 11717 (fax: (634) 254-7140 or email: giana.smith@broadridge.com), or from Merrill Lynch & Co., 4 World Financial Center, Attn: Prospectus Department, New York, New York 10080, phone: 212-449- 1000.

The shelf registration statement relating to the foregoing has previously been filed with the U.S. Securities and Exchange Commission and became effective upon filing. This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities, nor will there be any sale of the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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