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 managing director & southwest regional head of SierraConstellation Partners LLC in Houston. He also leads its oil & gas practice. McManigle has over 25 years of experience in providing interim-leadership, financial advisory and fiduciary services to companies facing operational or financial challenges, including business restructuring, particularly in companies undergoing Chapter 11 bankruptcy proceedings in the US.
He will assist the other directors in addressing the financial challenges of the company, that includes a proposed sale of oil and gas assets under Section 363 of the US Bankruptcy Code, or other restructuring alternatives.
McManigle replaces Stuart Eaton who has stepped down effective immediately.
Shares in Nighthawk were untraded Friday but last closed at 0.12 pence each.