POST FALLS, Idaho-–March 8, 2010 - JayHawk Energy, Inc. (OTCBB: JYHW) announced it has commenced drilling the first well of the Company’s initial two well vertical oil development program located at its Crosby Field in Divide County, North Dakota. JayHawk is the operator of the well on its own behalf, and that of its joint venture partners, and expects that each well will take approximately 10 days to drill to total depth. This project begins the development drilling program, previously announced by the Company, to fully exploit the oil pool JayHawk believes exists within the Company’s Crosby, North Dakota holdings.
JayHawk’s President, Marshall Diamond-Goldberg commented, “We are very excited about the potential which we believe exists at Crosby and which has several highly productive analogue fields to the northwest across the Canada/U.S. border. Should our wells be commercially successful, the opportunity exists for the drilling of a substantial number of additional development locations on Company controlled lands.”
JayHawk intends to follow the drilling of its first well with the development of a second location utilizing the same drilling rig. It is expected that both wells will be drilled and evaluated by early April.
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Investor Relations Contact
Barry Gross of Gross Capital, Inc.
www.grosscapital.com
E-Mail: jayhawk@grosscapital.com
Telephone: 1-361-949-4999
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About JayHawk Energy
JayHawk Energy, Inc. is a managed risk, oil and gas exploration/exploitation, development and production company with activities focused on two major projects in the Cherokee Basin, Kansas and the Williston Basin, North Dakota. For more information please visit www.jayhawkenergy.com.
Cautionary Note to U.S. Investors --
The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Examples of such disclosures would be statements regarding “probable,” “possible,” or “recoverable” reserves among others.
Management hopes these transactions will bring additional value to the shareholders of JayHawk Energy. There is no guarantee that the projects that JayHawk has recently acquired will increase the value of its shares of common stock, or that JayHawk will acquire rights to explore and operate any other such projects, or that in the event that it acquires rights to explore and operate other such projects, that these actions will be successful or increase the value of JayHawk’s common stock.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to acquire additional exploration or production properties, our plans to drill or our drilling results to fail to materialize: competition for new acquisitions, availability of capital, unfavorable geologic conditions, the complexity of coal bed methane exploration and production, and prevailing prices for natural gas and general regional economic conditions. JayHawk assumes no obligation to update the information contained in this press release.
