Nighthawk Expands Position at Jolly Ranch

Nighthawk Energy has acquired significant additional acreage at the Jolly Ranch project. Nighthawk and its partner Running Foxes Petroleum Inc, the operator, each hold a 50%. working interest in the project.

Jolly Ranch is located in Lincoln County, within the Denver Basin in eastern Colorado where production is drawn from the Mississippian, Pennsylvanian, Permian and Cretaceous reservoirs.

As announced on 1 November 2007, two 3-D seismic surveys were shot over key sections of the Jolly Ranch acreage covering 40,000 acres containing two abandoned oilfields, Bolero and Craig Ranch.

Following further interpretation of the results from these 3-D seismic surveys, expanded targets with significant upside potential have been identified and subsequently, a further 44,000 acres has been acquired bringing the current project area to 84,000 acres. Further expansion is planned within the region by Running Foxes and Nighthawk.