We reiterate our Buy rating and revise our target price to 7p following the recent production and revenue guidance update. Nighthawk has endured a challenging few months with poor drilling results from its Monarch JV assets and a reduction in its RBL borrowing base. Its near-term focus on operational efficiency and cash preservation should however set the company up well to take advantage of its low cost, high return conventional production and development assets as the macro-environment impr
03 Feb 2016
Holding tough
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Holding tough
Nighthawk Energy (HAWK:LON) | 0 0 -10.0% | Mkt Cap: 2.51m
- Published:
03 Feb 2016 -
Author:
Mark Henderson -
Pages:
9
We reiterate our Buy rating and revise our target price to 7p following the recent production and revenue guidance update. Nighthawk has endured a challenging few months with poor drilling results from its Monarch JV assets and a reduction in its RBL borrowing base. Its near-term focus on operational efficiency and cash preservation should however set the company up well to take advantage of its low cost, high return conventional production and development assets as the macro-environment impr