Email Facebook Twitter

RNS EXCLUSIVE: Cabot praise 3D seismic mapping after successful winter programme

Nighthawk Regulatory News (HAWK)

Regulatory News for Nighthawk (HAWK)

Share Price: 0.45Bid: 0.40Ask: 0.50Change: 0.025 (+5.88%)Riser - Nighthawk
Spread: 0.10Spread as %: 25.00%Open: 0.45High: 0.45Low: 0.425Yesterday’s Close: 0.425

Reserves Based Loan Covenant Compliance

Tue, 3rd Oct 2017 07:00

RNS Number : 4805S
Nighthawk Energy plc
03 October 2017




3 October 2017



("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).




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

Related Shares:
Nighthawk Energy (HAWK)

28-Feb-18 10:22RNSSenior management appointmentExecutive Changes
20-Feb-18 07:00RNSProduction UpdateCompany Announcement - General
14-Feb-18 07:00RNSSenior management changeExecutive Changes
25-Jan-18 07:00RNSAppointment of US Investment BankCompany Announcement - General
12-Jan-18 07:00RNSProduction UpdateCompany Announcement - General
05-Jan-18 17:19RNSHolding(s) in CompanyHolding(s) in Company
28-Dec-17 07:00RNSAmendment to Existing Bank AgreementCompany Announcement - General
28-Nov-17 08:30RNSProduction updateCompany Announcement - General
22-Nov-17 07:00RNSResource UpdateResults and Trading Reports
07-Nov-17 07:00RNSDirectorate ChangeExecutive Changes
01-Nov-17 07:00RNSFarmout Option AgreementCompany Announcement - General
25-Oct-17 07:00RNSCompany UpdateCompany Announcement - General
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
03-Aug-17 07:00RNSCompany Presentation and Operational UpdateCompany Announcement - General
03-Jul-17 07:00RNSBanking AgreementCompany Announcement - General
23-Jun-17 10:36RNSProduction Update and Result of AGMCompany Announcement - General
31-May-17 09:36RNSReserves Based Loan Covenant ComplianceCompany Announcement - General
26-May-17 16:03RNSFinal ResultsResults and Trading Reports
02-May-17 07:00RNSReserves Based Loan Covenant ComplianceCompany Announcement - General
26-Apr-17 07:00RNSProduction updateCompany Announcement - General
05-Apr-17 16:16RNSResults of General MeetingResults and Trading Reports
15-Mar-17 07:00RNSNotice of GM - Rule 9 WaiverResults and Trading Reports
15-Feb-17 07:00RNSUpdate re Operations and Year-end ReservesResults and Trading Reports
26-Jan-17 07:00RNSCorrection - Production UpdateCompany Announcement - General
24-Jan-17 07:00RNSProduction UpdateResults and Trading Reports
18-Jan-17 16:35RNSPrice Monitoring ExtensionCompany Announcement - General
12-Jan-17 07:00RNSOperations UpdateCompany Announcement - General

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.