Latest Share Chat

Nighthawk Energy Share News (HAWK)

Nighthawk Energy Information

There is currently no data for HAWK

Broker snap: Nighthawk shareholders need patience

Wed, 20th Oct 2010 13:01

The admission by oil explorer Nighthawk Energy that it will not meet its previously announced target of 1,000 barrels of oil equivalent per day this year is a clear disappointment, broker Daniel Stewart concedes, but it has not dampened the broker's enthusiasm for the stock.The company explained that the shortfall in production this year is due to the limited number of wells on test. Daniel Stewart investment analyst Richard Nolan notes that there are currently 19 wells on the Jolly Ranch prospect, of which only six are currently producing."As we have said in the past, this is not so much as an exploration play as it is an engineering play. The John Craig 7-2 well was drilled 30 miles NW [north-west] of the core area and confirms the extension of the shales. However, sand ingress is restricting production. Solving sand problems, fraccing [fracturing], completion techniques and discovering sweet spots should produce value for shareholders," suggests Nolan.The major area of doubt, however, is whether the company has sufficient funds to solve those problems.It's a view echoed by Nighthawk's broker and nominated advisor (nomad), Westhouse Securities."There is no question that as a shale oil play, Jolly Ranch presents challenges in the early development stages that conventional plays do not. However, with exceptional estimates of oil in place, the patience this requires at the start can lead to substantial rewards, as understanding of completion techniques is optimised. Recent transactions involving other shale plays in North America, albeit predominantly gas, have shown the potential value that can be created once these techniques are established," Westhouse says. "Nighthawk's decision to pursue well recompletions and testing, rather than additional new drilling, will help achieve both better understanding of the play and improve cash flow, which we believe demonstrates the management's focus on value-creating opportunities," the broker concludes.Like Daniel Stewart, Westhouse rates the shares a buy. Its target price of 88p, however, is far more optimistic than Daniel Stewart's 45p,

More News

19 Jul 2018 11:41

Nighthawk Energy Sells All Operating Assets In US For USD18 Million

LONDON (Alliance News) - US-focused, UK-listed oil company Nighthawk Energy PLC said on Thursday it has closed the sale of all assets belonging to its US operating subsidiary Nighthawk Production

29 Jun 2018 12:24

US Court Approves Nighthawk Energy Asset Sale Ahead Of Wind-Up

LONDON (Alliance News) - Nighthawk Energy PLC on Friday said a court in the US has approved the sale of all of its assets, following which the company will be wound up.On Thursday, the US a

11 Jun 2018 13:52

Nighthawk Energy Cancels General Meeting For Reconstruction Focus

LONDON (Alliance News) - US-focused oil company Nighthawk Energy PLC said on Monday it has cancelled its general meeting scheduled for June 28, after shareholders Fasighets AB Korpralen and Johan

16 May 2018 14:33

NightHawk Energy US Subsidiary Files For Chapter 11 Bankruptcy

LONDON (Alliance News) - US focused oil development and production company Nighthawk Energy PLC said Wednesday that its US subsidiary Nighthawk Production LLC has filed a voluntary petition for 11

14 May 2018 18:09

UK High Court Notes Nighthawk Energy's Bankruptcy Proceedings In US

LONDON (Alliance News) - US-focused oil and gas company Nighthawk Energy PLC said on Monday it has obtained orders from the UK High Court recognising the Chapter 11 proceedings between the company

10 May 2018 14:07

Shareholders Call Meeting To Remove Nighthawk Energy Leadership

LONDON (Alliance News) - Nighthawk Energy PLC on Thursday said it has received a requisition notice from shareholders to remove both its executive chairman and chief operating officer.The

4 May 2018 18:18

Nighthawk Energy Appoint Bankruptcy Expert As Non-Executive Director

LONDON (Alliance News) - US focused oil development company Nighthawk Energy PLC said Friday Drew McManigle is to become it new non-executive director with immediate effect.McManigle is of

1 May 2018 11:30

Nighthawk Energy Files For Chapter 11 Bankruptcy Protection

LONDON (Alliance News) - NightHawk Energy PLC on Tuesday said it has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware to preserve its ability to a

20 Apr 2018 10:36

WINNERS & LOSERS SUMMARY: Reckitt Slides After Missing Forecasts

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Reckitt down it

20 Apr 2018 10:17

Nighthawk Energy Shares Drop 66% As It Gets Default Notice From Bank

LONDON (Alliance News) - Shares in Nighthawk Energy PLC plunged on Friday as it said it had defaulted on a loan with assets now possibly subject to foreclosure or "other shares were trading a

23 Mar 2018 11:45

Nighthawk Energy Says Workovers Complete In Several Wells

LONDON (Alliance News) - Oil company Nighthawk Energy PLC said Friday that between November and January several wells required non-routine workovers, which have now been three

15 Feb 2017 11:31

Nighthawk reports rise in total 3P reserves

(ShareCast News) - Nighthawk says its total 3P reserves rose to 3.89m barrels at 31 December, 2016, from 3.64m barrels a year earlier. Total proved reserves rose to 1.54m barrels, from 1.41 barrels. Probable reserves rose to 1.8m barrels, from 1.42m barrels, while possible reserves fell to 545,000 b

16 Dec 2016 09:06

Nighthawk Energy reaches settlement with Cascade Petroleum

(ShareCast News) - US-focused oil development and production company Nighthawk Energy announced the execution of a settlement agreement regarding the Monarch Joint Development Agreement on Friday. The AIM-traded firm said it was entering into the settlement agreement with Cascade Petroleum, under th

30 Nov 2016 09:17

Nighthawk Says Production Remains "Strong" Despite Decline In Output

11 Nov 2016 10:29

Nighthawk Energy updates on water flood pilot project

(ShareCast News) - AIM-listed oil development and production company Nighthawk Energy has received approval on one injector well and has begun the injection of water at its water flood pilot project at Arikaree Creek in Colorado. The group had announced delays to the project on 1 November, but on Fr

Latest Share Chat

Nighthawk Energy Share News (HAWK)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Broker snap: Nighthawk shareholders need patience

Login to your account

Quickpicks are a member only feature

Login to your account