West Hawk Development Corp. (TSX VENTURE:WHD)(FRANKFURT:H5N) (the "Company")
would like to provide an update on the status of its technical and commercial
meetings with Petrobras - Petroleo Brasileiro S.A ("Petrobras") to jointly
develop the Company's Figure Four Natural Gas Project in the Piceance Basin,
Colorado. WHD announced that it had signed a Memorandum of Understanding ("MOU"
or "Agreement") with Petrobras on June 12, 2008.


During the months of June and July several technical and commercial meetings
between West Hawk and Petrobras have taken place, in both Denver and in Brazil.
At this time Petrobras is going through their Due Diligence process. The terms
and conditions of the possible transaction have already been discussed by
Petrobras and West Hawk.


"It has been a pleasure to work through the Due Diligence process with
Petrobras. The relationship between the two companies has been extremely
positive," said Gonzalo Torres Macchiavello, President and CEO of the Americas,
West Hawk Development Corp.


On behalf of the Board of Directors,

Wm. Mark Hart, President and Chief Executive Officer

About the Company: West Hawk Development Corp. is focused on providing valuable,
high-demand energy products from a variety of sources. Assets include the Figure
Four natural gas property located in the Piceance Basin, Colorado, being
developed under a drilling and development agreement; the Groundhog coal
property located in northwest British Columbia; the Tulita coal property located
in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal
property.


Cautionary Note: This news release contains forward looking statements,
particularly those regarding cash flow, capital expenditures and investment
plans. Resource estimates, unless specially noted, are considered speculative.
The Company has filed a National Instrument 51-101 Report on the Figure Four
property. The Company has filed National Instrument 43-101 Reports for each of
the Groundhog coal property in British Columbia, the Tulita coal property in the
Northwest Territories, and the Nunavut coal property. Any and all other resource
or reserve estimates are historical in nature, and should not be relied upon. By
their nature, forward looking statements involve risk and uncertainties because
they relate to events and depend on factors that will or may occur in the
future. Actual results may vary depending upon exploration and development
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Cautionary note to
U.S. investors: The U.S. Securities and Exchange Commission specifically
prohibits the use of certain terms, such as "reserves" unless such figures are
based upon actual production or formation tests and can be shown to be
economically and legally producible under existing economic and operating
conditions.


West Hawk Development Corp. (TSXV:WHD)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more West Hawk Development Corp. Charts.
West Hawk Development Corp. (TSXV:WHD)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more West Hawk Development Corp. Charts.