Result of Open Offer

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Result of the Open Offer

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces the result of the Open Offer which closed for acceptance at 11.00 a.m. on 19 January 2012.

The Company is pleased to announce that valid applications have been received from Qualifying Shareholders under the Open Offer for 74,003,918 New Ordinary Shares at a price of 2.5p per share raising gross proceeds of approximately £1.85 million. The acceptances under the Open Offer represent approximately 44.5 per cent. of the New Ordinary Shares available under the Open Offer.

The Open Offer forms part of the Acquisition and Fundraising process, details of which were announced on 28 December 2011 and set out in the circular to Shareholders dated 4 January 2012 (the "Circular").

The issue of the Open Offer Shares remains conditional upon the passing of Resolutions at a General Meeting of the Company to be held today at 11.00 a.m. at the offices of FTI Consulting, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB and upon Admission.

In the event that the Resolutions are passed at the General Meeting, it is expected that Admission will become effective and that dealing in the New Ordinary Shares will commence at 8.00 a.m. on 23 January 2012. Following Admission, the Enlarged Share Capital will be 748,935,420 Ordinary Shares.

Director's Participation in the Open Offer

The Company has been notified that Stuart Eaton, a Non-Executive Director of Nighthawk, applied for 520,000 New Ordinary Shares under the Open Offer. Subject to the passing of the Resolutions at the General Meeting, Mr. Eaton's resultant shareholding in the Company will be 996,500 Ordinary Shares, representing 0.13 per cent. of the Enlarged Share Capital.

Stephen Gutteridge, Chairman of Nighthawk, said:

"Nighthawk has successfully raised over $21 million net of expenses with broad based support from institutions and both large and small existing shareholders. The funds raised exceeded our expectations and will not only fully fund the original planned work programme, but will allow us to extend and accelerate our development plan for the Jolly Ranch project. We now move on to operational implementation, with the first significant investment in production improvement for many months now scheduled for February. At that time we will update shareholders on our plans and on production over the final period prior to Nighthawk assuming operatorship."

Further Information

A copy of the Circular posted to Shareholders on 4 January 2012 is available on the Company's website (www.nighthawkenergy.com). Capitalised terms in this announcement have the meanings given to them in the Circular.

Ends

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