Nighthawk (AIM: HAWK) (OTCQX: NHEGY) announces an update on drilling at its 75% owned, operated project at Jolly Ranch in the Denver-Julesburg Basin, Colo.

The John Craig 6-2 well was successfully drilled to a depth of 8,250 feet. Drilling was completed on time and on budget, and the well was logged and cased ready for testing.

Data collected from the well includes mud-logs, samples and wireline gamma ray and pulse neutron logs. This data has clearly identified significant oil shows, with good porosity, in the primary target Cherokee formation. Three additional potential oil-bearing formations have also been identified, all of which are at shallower depths than the Cherokee.

The well was perforated and acidized over a twelve-foot section of the Cherokee formation with immediate results. The initial flow has been closely monitored and measured. The well has flowed under natural pressure, through a 1-in choke, and has produced over 600 bbl of high-quality oil over a continuous twenty-four hour period.

Work is now underway to bring the John Craig 6-2 onto permanent production and two loads of oil from the well have already been lifted.

Nighthawk has a 100% working interest in the 6-2 well.