Press Release

Petrohawk Announces Three New Haynesville Shale Wells Placed on Production at a Combined Rate of 73 Mmcfe/d

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Posted 09 December 2008 @ 07:00 am ET

HOUSTON, Dec. 9 /PRNewswire-FirstCall/ -- Petrohawk Energy Corporation("Petrohawk" or the "Company") (NYSE: HK) has placed three additionalHaynesville Shale wells on production at a combined rate of 73 Mmcfe/d, onewith the highest reported initial production rate of any well in Petrohawk'shistory, as follows:

The Brown 17 #4 (69% W.I.), located in Section 17-T16N-R11W, Bossier Parish, Louisiana, was completed on November 18 and produced at a rate of 23.4 Mmcfe/d on a 26/64" choke with 7,700# flowing casing pressure. The Goodwin 9 #5 (97% W.I.), located in Section 9-T16N-R11W, Bossier Parish, Louisiana, was completed on November 25 and produced at a rate of 21.1 Mmcfe/d on a 26/64" choke with 6,750# flowing casing pressure. The Sample 9 #1 (100% W.I.) is located in Section 9-T14N-R11W, Red River Parish, Louisiana, approximately 12 miles south of Elm Grove Field. It was completed on November 27 and produced at a rate of 28.2 Mmcfe/d on a 30/64" choke with 7,100# flowing casing pressure. The Company expects to complete five additional Haynesville Shale wells bythe end of the year.

Petrohawk Energy Corporation is an independent energy company engaged inthe acquisition, production, exploration and development of natural gas andoil with properties concentrated in Northwest Louisiana and East Texas(Haynesville / Bossier Shale and Cotton Valley), Arkansas (FayettevilleShale), South Texas (Eagle Ford Shale), Oklahoma and the Permian basin.

For more information contact Joan Dunlap, Vice President - InvestorRelations, at 832-204-2737 or jdunlap@petrohawk.com. For additionalinformation about Petrohawk, please visit our website athttp://www.petrohawk.com.

Additional Information for Investors

This press release contains forward-looking information regardingPetrohawk that is intended to be covered by the safe harbor "forward-lookingstatements" provided by the Private Securities Litigation Reform Act of 1995,based on Petrohawk's current expectations and includes statements regardingacquisitions and divestitures, estimates of future production, future resultsof operations, quality and nature of the asset base, the assumptions uponwhich estimates are based and other expectations, beliefs, plans, objectives,assumptions, strategies or statements about future events or performance(often, but not always, using words such as "expects", "anticipates", "plans","estimates", "potential", "possible", "probable", or "intends", or statingthat certain actions, events or results "may", "will", "should", or "could" betaken, occur or be achieved). Statements concerning oil and gas reserves alsomay be deemed to be forward-looking statements in that they reflect estimatesbased on certain assumptions that the resources involved can be economicallyexploited. Forward-looking statements are based on current expectations,estimates and projections that involve a number of risks and uncertainties,which could cause actual results to differ materially from those reflected inthese statements. These risks include, but are not limited to: the risks ofthe oil and gas industry (for example, operational risks in exploring for,developing and producing crude oil and natural gas; risks and uncertaintiesinvolving geology of oil and gas deposits; the uncertainty of reserveestimates; the uncertainty of estimates and projections relating to futureproduction, costs and expenses; potential delays or changes in plans withrespect to exploration or development projects or capital expenditures;health, safety and environmental risks and risks related to weather such ashurricanes and other natural disasters); uncertainties as to the availabilityand cost of financing; fluctuations in oil and gas prices; risks associatedwith derivative positions; inability to realize expected value fromacquisitions, inability of our management team to execute its plans to meetits goals, shortages of drilling equipment, oil field personnel and services,unavailability of gathering systems, pipelines and processing facilities andthe possibility that government policies may change or governmental approvalsmay be delayed or withheld. Additional information on these and other factorswhich could affect Petrohawk's operations or financial results are included inPetrohawk's reports on file with the SEC. Investors are cautioned that anyforward-looking statements are not guarantees of future performance and actualresults or developments may differ materially from the projections in theforward-looking statements. Forward-looking statements are based on theestimates and opinions of management at the time the statements are made.Petrohawk does not assume any obligation to update forward-looking statementsshould circumstances or management's estimates or opinions change.

SOURCE Petrohawk Energy Corporation


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