7 June 2010 – possible divestment

Nighthawk Energy has announced that Macquarie Tristone (Houston) have been engaged to seek a purchaser for part of the working interest in the Jolly Ranch Project in Colorado.  Nighthawk Energy owns a 50% working interest in the Jolly Ranch Project, alongside Running Foxes.

The level of working interest to be divested by each of the partners is yet to be determined. Macquarie Tristone has had some “encouraging” initial feedback from the early stages of its marketing programme and further announcements are likely.  The share price has reacted very well to the news, trading as high as 27p just after the announcement, which represents an increase of over 20% on Friday’s closing price.  The shares remain a BUY.