2008-10-21-2008-01-08-2008-02-08

Acquired 18,500 net acres in AR Fayetteville shale, gaining 50 Bcfe proved, 5 MMcfge/d.

Petrohawk Energy Corp., Houston, (NYSE: HK) plans to acquire additional acreage in the Fayetteville shale trend in Arkansas from an undisclosed private seller for $222.5 million. The assets include approximately 18,500 net acres in Van Buren, Conway and Cleburne counties along with a gathering system. Production is approximately 5 million cubic feet of gas equivalent per day. Proved reserves are approximately 50 billion cubic feet equivalent. A portion of the deal will qualify as a like-kind exchange for property sold in Petrohawk's recently announced Gulf Coast divestment to privately held Milagro Exploration LLC, Houston, for $825 million. Pro forma, Petrohawk will hold approximately 150,000 net acres in the Fayetteville shale. The effective date is Jan. 1. The deal is expected to close in February.