Running Foxes Unlocks Gas Reservoir at Devon Waterflood Project

Nighthawk Energy has announced a significant gas discovery and a new reservoir at the Devon Oilfield waterflood project, located in Bourbon County, Kansas. Nighthawk holds an 80% interest in the project, which covers an area of 1,764 acres. Running Foxes Petroleum Inc. is the operator and holds the remaining 20%

The Graham 6-36D-3 well was tested from the Lower Bartlesville formation at a depth of 430 to 438 feet resulting in a stabilized open flow test of 627 MCFGPD (thousand cubic feet of gas per day) through a one inch choke.

The well has been hooked up to a local pipeline and gathering system and natural gas is now producing at a choked off rate of 160 MCFGPD and being sold into the market.

This producing sandstone represents a separate reservoir from the main Bartlesville channel system presently being waterflooded and seeing increasing production at the Devon project.

Eight additional locations have been staked and these wells will be drilled to define the extent of this new reservoir.

A full update of operations in respect of the Devon Oilfield will be issued in early March 2009.