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27/05/2011

Tim Heeley at Nighthawk Energy says there’s HUGE potential for the company

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Additional Information
Market: AIM
Sector: Energy
EPIC: HAWK
Latest Price: 3.45p  (-5.48% Descending)
52-week High: 6.80p
52-week Low: 2.40p
Market Cap: 25.84M
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Nighthawk Energy
www.nighthawkenergy.net

AIM quoted Nighthawk Energy plc (AIM:HAWK) is a dynamic UK registered energy company with a focus on the development of, and production from, hydrocarbon projects in the USA, a country with low political risk and a major shortfall in domestic oil and gas production.

Pdf

Nighthawk Energy raises £2 million via placing

26th Oct 2011, 12:39 pm by Jon Mainwaring Nighthawk has a 50-per cent interest in the Jolly Ranch Group project

US-focused oil firm Nighthawk Energy (LON:HAWK, OTCQX:NHEGY) announced this morning that it has raised almost £2 million through the placing of approximately 78.9 million shares at a placing price of 2.5 pence per share.

The company said that the funds raised will be used to meet ongoing costs and to push ahead with the first steps in a new work programme, which will initially involve further improvements to existing wells.

Nighthawk will have sole responsibility for the costs of the work on the existing wells, which are anticipated to be approximately US$400,000. 

Nighthawk has a 50-per cent interest in the Jolly Ranch Group project, which comprises the Jolly Ranch, Middle Mist and Mustang Creek areas. These cover approximately 410,000 gross acres on Lincolm, Elbert and Washington counties in Colorado.

Its partner Running Foxes Petroleum is the operator of the project and holds the remaining percentage interest.

19.7 million of the latest placing shares were taken up by Bronsstädet AB, a vehicle that is wholly owned by Mr Peter Gyllenhammar. 29.6 million shares have been allocated to Claesson & Anderzen, with another 29.6 million allocated to Johan Claesson. On completion of the placing, Gyllenhammar and Claesson will be interested in 9.4 per cent and 13.9 per cent of the company’s shares respectively.

“We welcome the strong support we have received from investors in this placing,” said Steve Gutteridge, Nighthawk’s chairman. “It represents an initial and welcome step towards rebuilding value for Nighthawk shareholders.”

The firm added that it would make further announcements on the work programme in due course.

Shares in Nighthawk were down 4.4 per cent at 3.3 pence each this lunchtime.

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