We reiterate our Buy rating and retain our 12.5p price target following news of a redetermination of the borrowing base under the RBL the company has with the Commonwealth Bank of Australia. Nighthawk as adequate liquid funds to meet potential repayments and to fund the remaining wells under the 2015 drilling programme. As we highlighted in our recent note “A turning point for the E&P sector”, we are positive on oil and the E&P sector and would buy into any weakness in the
04 Nov 2015
RBL redetermination not an issue
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RBL redetermination not an issue
Nighthawk Energy (HAWK:LON) | 0 0 -10.0% | Mkt Cap: 2.51m
- Published:
04 Nov 2015 -
Author:
Mark Henderson -
Pages:
2
We reiterate our Buy rating and retain our 12.5p price target following news of a redetermination of the borrowing base under the RBL the company has with the Commonwealth Bank of Australia. Nighthawk as adequate liquid funds to meet potential repayments and to fund the remaining wells under the 2015 drilling programme. As we highlighted in our recent note “A turning point for the E&P sector”, we are positive on oil and the E&P sector and would buy into any weakness in the