[July 15, 2011]

Robbins Umeda LLP Announces an Investigation of Petrohawk Energy Corporation

Robbins Umeda LLP, a shareholder rights litigation firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Petrohawk Energy Corporation (NYSE:HK) in connection with their efforts to sell the company to BHP Billiton Limited (NYSE:BHP).

If you own stock in Petrohawk and would like more information about your shareholder rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on the firm's website.

On July 14, 211, BHP Billiton announced that it would purchase Petrohawk for approximately $12.1 billion. Under the terms of the agreement, Petrohawk shareholders will receive $38.75 for each share of the company they own through a tender offer that will begin by July 25, 2011. The transaction is expected to close in the third quarter 2011.

Robbins Umeda LLP's investigation focuses on whether Petrohawk's board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results. Petrohawk recently reported first quarter results for fiscal year 2011 that exceeded analyst expectations. On May 5, 2011, the company reported revenue of $491.72 million, a 22% increase over fourth quarter 2010 and a 12% increase compared to the same quarter in the prior year, and above analyst expectations of only $458.17 million. Additionally, the company reported fully diluted EPS of $0.15, compared to $0.13 from the same period of the prior year, and above analyst estimates of $0.14. Finally, and perhaps most demonstratively, analysts have recently released target prices for Petrohawk that value the company's stock at $39.00 per share, higher than the offer price that forms the basis of the merger agreement.

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/petrohawk-energy-corporation/

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