HOUSTON, Aug. 11 /PRNewswire-FirstCall/ -- Petrohawk Energy Corporation (NYSE: HK) ('Petrohawk') today announced that it has filed a preliminary prospectus supplement to its existing shelf registration statement with the U.S. Securities and Exchange Commission relating to an underwritten public offering of 25,000,000 shares of its common stock. The underwriters will also have a 30-day option to purchase up to 3,750,000 additional shares of common stock from Petrohawk.

Net proceeds from the offering are expected to be used to repay the outstanding borrowings under Petrohawk's senior revolving credit facility, fund pending and additional leasehold acquisitions, fund a portion of its increased capital budget for the year ending December 31, 2008 and for general corporate purposes.

Lehman Brothers and Merrill Lynch & Co. will act as the joint book-running managers of the offering. Copies of the preliminary prospectus supplement and related prospectus may be obtained from: Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, New York 11717 (phone: 888-603-5847; fax: 631-254-7140), or from Merrill Lynch & Co., 4 World Financial Center, Attn: Prospectus Department, New York, New York 10080, phone: 212-449-1000.

The shelf registration statement relating to the foregoing has previously been filed with the U.S. Securities and Exchange Commission and became effective upon filing. This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities, nor will there be any sale of the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Petrohawk Energy Corporation is an independent energy company engaged in the acquisition, production, exploration and development of natural gas and oil with properties concentrated in North Louisiana, Arkansas, East Texas, Oklahoma and the Permian basin.

Additional Information for Investors

This press release contains forward-looking statements within the meaning of the federal securities laws. Petrohawk cautions you that any statements contained in this press release that are not strictly historical statements constitute forward-looking statements. Such forward looking statements include, but are not limited to, Petrohawk's expectations regarding the completion, timing and size of the proposed public offering. These statements are based upon current beliefs or expectations and are subject to various risks and uncertainties, including those set forth in Petrohawk's registration statement and other filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008 (copies of which may be obtained from the SEC's website at http://www.sec.gov). Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. Petrohawk undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Petrohawk's expectations.

SOURCE Petrohawk Energy Corporation