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Nighthawk Regulatory News (HAWK)



Regulatory News for Nighthawk (HAWK)


Share Price: 0.30Bid: 0.25Ask: 0.35Change: 0.00 (0.00%)No Movement on Nighthawk
Spread: 0.10Spread as %: 40.00%Open: 0.30High: 0.30Low: 0.30Yesterday’s Close: 0.30





Reserves Based Loan Covenant Compliance

Tue, 3rd Oct 2017 07:00

RNS Number : 4805S
Nighthawk Energy plc
03 October 2017
 

 

 

 

3 October 2017

 

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

 

Reserves Based Loan Covenant Compliance

 

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces that it has notified Commonwealth Bank of Australia ("CBA") that the Company is not in compliance with the minimum production requirement covenant for the month of September 2017 under the Company's Reserves Based Loan with CBA ("CBA Loan").  The Company and CBA have entered into an agreement to waive this breach ("Waiver Agreement"). 

 

Given the uncertainty around the Company's ability to refinance or repay the CBA Loan principal loan balance of $21.250 million, when it falls due on 31 December 2017, the Company has pursuant to the Waiver Agreement agreed to appoint an investment bank to advise on available options for the repayment of the CBA Loan.

 

Further announcements will be made in due course.

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU  596/2014).

 

Enquiries:

 

Nighthawk Energy plc


Rick McCullough, Chairman 

+1 303 407 9600

Kurtis Hooley, Chief Financial Officer

+44 (0) 20 3582 1350



Stockdale Securities Limited

+44 (0) 20 7601 6100

Richard Johnson


Edward Thomas


 

 




 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Related Shares:
Nighthawk Energy (HAWK)




DateSourceHeadlineCategory
03-Oct-17 07:00RNSReserves Based Loan Covenant ComplianceCompany Announcement - General
26-Sep-17 07:00RNSHalf-year ReportResults and Trading Reports
14-Sep-17 07:00RNSCompany UpdateResults and Trading Reports
30-Aug-17 07:00RNSAmendment of Loan NotesCompany Announcement - General
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