18 Apr 2016 07:00
18 April 2016
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Bank Negotiation
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces the receipt by the Company of an extension to the waiver received from the Commonwealth Bank of Australia ("CBA") to certain loan covenants under the Company's Reserves Based Loan ("RBL").
Reserves Based Loan Covenant Compliance
In anticipation of the renegotiation of the Company's banking arrangements described in the Company's announcement of 1 April 2016, certain RBL covenants have been waived by CBA until 28 April 2016, in order to allow CBA and the Company further time to agree to possible amendments to the covenant and debt repayment provisions of the RBL in the light of current and anticipated Company results. The Company expects that the new banking arrangements will be agreed at, or before, that time and a further announcement will be made in due course.
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 |
Alastair Stratton | |
Robert Finlay David Coaten | |