Nighthawk soars on farm-out deal

Shares - - SMALLER COMPANIES -

Shares in small cap oil and gas play Nighthawk En­ergy (HAWK:AIM) have risen to 0.35p af­ter it se­cured a new part­ner on its Monarch project.

A Den­ver-based pri­vately held firm is set to take up to 80% of the project in re­turn for meet­ing the drill and pro­duc­tion test costs of a well and mak­ing a separate pay­ment of $160,000.

The com­pany’s shares fell sharply ear­lier in 2017 as its fi­nan­cial po­si­tion came un­der scru­tiny. (TS)

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