Nighthawk Energy plc Bank Negotiation (4064V)

TIDMHAWK

RNS Number : 4064V

Nighthawk Energy plc

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

This information is provided by RNS

The company news service from the London Stock Exchange

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April 18, 2016 02:00 ET (06:00 GMT)

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