14 Sep 2009 08:00
14 September 2009
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
OTCQX Quotation Obtained in United States
Fully Sponsored American Depository Receipt Programme Established
Nighthawk Energy plc (AIM: HAWK), the US focused hydrocarbon development and production company, is pleased to announce a number of corporate initiatives given the increasing interest in the Company within the United States.
Nighthawk has obtained a quotation (OTCQX: NHEGY) on the OTCQX International platform. The OTCQX quotation, which will take effect today the 14 September 2009, is complementary to Nighthawk's London Stock Exchange AIM quotation, which will continue to serve as the principal trading platform for the Company's ordinary shares.
In addition, under a separate agreement, Nighthawk has engaged SMH Capital Inc., the broker-dealer subsidiary of Sanders Morris Harris Group (NASDAQ: SMHG), to serve as the Principal American Liaison ("PAL") in connection with Nighthawk's OTCQX quotation, providing capital markets advisory, strategic investor communication, in-depth company research, analysis and trading monitoring services.
The Company has also undertaken a Level 1 American Depository Receipt ("ADR") programme (20 ordinary shares to 1 ADR) fully sponsored by The Bank of New York Mellon. The ADR's will be created using the existing issued share capital of the Company.
Nighthawk has appointed Financial Dynamics Limited to enhance the Company's communication with analysts and institutional investors, both in the US and UK, as the Company expands.
David Bramhill, CEO of Nighthawk, stated:
"Quotation on the OTCQX International market and the establishment of the ADR programme will facilitate ownership for a broader range of investors.
"We are pleased to be working with The Bank of New York Mellon, SMH Capital and Financial Dynamics and we are confident that their expertise and capabilities will assist in driving our strategy forwards with our existing advisers on both sides of the Atlantic."
Enquiries:
| Nighthawk Energy plc David Bramhill, Managing Director Tim Heeley, Commercial Director | 01271 882160 020 7887 1454 07956 525433 |
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| Hanson Westhouse Limited Tim Feather Matthew Johnson | 020 7601 6100 tim.feather@hansonwesthouse.com matthew.johnson@hansonwesthouse.com |
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| Bishopsgate Communications Limited Nick Rome | 020 7562 3395 nick@bishopsgatecommunications.com |
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| Financial Dynamics Ben Brewerton / Ed Westropp | 020 7831 3113 Ben.brewerton@fd.com Edward.westropp@fd.com |
Notes
1 Background on Nighthawk
Nighthawk's operations are US based and focus on two major projects, namely Jolly Ranch and Revere, located in Colorado and Kansas/Missouri respectively.
The Company announced in July 2009 that it had raised £22.4 million in the London Capital markets providing the Company the funding for its development programme which will include the drilling of up to 20 wells, including a number of horizontal wells, and the building of production facilities at Jolly Ranch and the drilling of approximately 200 wells and the building of production facilities at Revere.
Nighthawk also recently announced details of an independent evaluation by Schlumberger Data & Consulting Services, of the hydrocarbons in place at the Jolly and Craig Ranch fields, Lincoln County, Colorado, part of the Jolly Ranch project. The P50, or most likely, oil in place ("OIP") estimate for the 246,000 acres evaluated, out of the total approximate 370,000 gross acres held within the project, using probabilistic methods, was calculated to be 1.462 billion barrels of oil gross.
Similar independent technical reports were undertaken by Oilfield Production Consultants Limited ("OPC") on the Revere project. The OPC reports determine that the most likely case stock tank oil originally in place ("STOOIP") is 210.5 million barrels gross which is expected to increase as additional wells are drilled on the offsetting acreage.
2 Background on The Bank of New York Mellon.
The Bank of New York Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day.
Additional information is available at www.bnymellon.com.
3 Background on SMH Capital
SMH Capital Investment Banking Group is a division of SMH Capital Inc. (member FINRA/SIPC) the broker-dealer and largest subsidiary of Sanders Morris Harris Group (NASDAQ:SMHG). SMH Capital Investment Banking Group is a full-service investment bank providing middle-market companies with public offerings of equity and debt securities, as well as financial-advisory services in connection with mergers and acquisitions, restructuring and recapitalizations. SMH Capital Investment Banking Group provides a full spectrum of investment banking services, including raising capital, research coverage, creating liquidity, trading and market making, merger and acquisition advisory services, sales support, and investor conferences. Additional information is available at www.smhib.com.
4 Background on Financial Dynamics
Founded in 1986, Financial Dynamics is one of the UK's leading financial and corporate communications consultancies. It has a global network of 42 offices as well as affiliates.
Working in industry sector teams and specialist practice groups, Financial Dynamics provides its clients with a full service in financial public relations and investor relations, business-to-business and business-to-consumer communications, crisis and issues management and media and presentation training.
In 2006, Financial Dynamics was acquired by FTI Consulting Inc, a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment.