FAQ’s

General questions:

1. What is Nighthawk Energy?

Nighthawk Energy is an AIM listed oil company focused on developing a shale oil project in Colorado, United States.

2. What is Nighthawk Energy strategy?

To deliver shareholder value by proving up and derisking the petroluem projects.

3. What are Nighthawk Energy’s competitive strengths?

Nighthawk is a small, dynamic company that is able to react quickly to market changes and trends.

4. What are Nighthawk Energy’s recent acquisitions and divestitures?

Nighthawk has recently undertaken a strategic review to ensure that the projects it is involved with are able to deliver shareholder value. Projects were reiewed on a spend/revenue return basis.

5. How can I get a copy of Nighthawk Energy’s annual report?

Nighthawk are adopting an environmentally aware approach to its business and Annual Reports can be downloaded from its website.  Shareholders have to opt in to receive annual reports.

6. How can I contact the Investor Relations (IR) Service?

Ben Brewerton/Edward Westropp
Financial Dynamics
Holborn Gate,
26 Southampton Buildings
London WC2A 1PB
England

+44 (0)20 7831 3113
www.fd.com

7. Who is Nighthawk Energy’s primary Investor Relations (IR) contact?

Ben Brewerton/Edward Westropp
Financial Dynamics
Holborn Gate,
26 Southampton Buildings
London WC2A 1PB
England

+44 (0)20 7831 3113
www.fd.com

Shares and dividends questions:

1. On which stock exchanges are Nighthawk Energy’s shares traded?

LSE AIM and OTCQX (ADR's)

2. When did Nighthawk Energy list on the Alternative Investment Market (AIM)?

March 2007

3. What is Nighthawk Energy’s ticker symbol?

HAWK

4. What is the free float of Nighthawk Energy?

In excess of 85%

5. What is the Nighthawk Energy’s shareholding structure?

Predominantly retail but a growing institutional focus representing around 10%

6. What is Nighthawk Energy’s dividend policy?

Dividends are the way the company makes distributions from the company’s profits to shareholders. Nighthawk's current growth structure is such that investing cashflow is greater than generated operational cash flow and as such any free cash is invested back into the assets. Once the development of the portfolio is such that free cash flow is available Nighthawk will develop a dividend policy in keeping with the growth strategy at that time.