News

May 08, 2009

Nighthawk Energy Keeps Busy With Its Key Oil Shale and Waterflood Projects In The US As Investors Await News Of Disposals

Stock market success can sometimes be a double-edged sword. Shares in AIM-quoted Nighthawk Energy have gained almost 40 per cent since January as investors have increasingly noticed the money-making potential of its low risk oil and gas properties in the US. But these are nervous times and with the company poised to make a number of key asset trades that have been the subject of much market speculation, some investors have felt more comfortable cashing in their profits: this at least was the advice of the much-read Questor column in the Daily Telegraph on Thursday.

Shares in Nighthawk eased back 2.5 pence to 42 pence, a downward adjustment that seemed rather perverse given the oil price picked that day to breach US$58 a barrel for the first time in six months and this is an oil price sensitive business, with cost-conscious onshore production in the US.

Investors are certainly keen to hear more from Nighthawk about the deal-making that is currently underway.  The sale of a 20 per cent stake in its Jolly Ranch project in Colorado – Nighthawk and its...