Bramhill gas ready for listing
Article Date: Mar 12 2007David Bramhill – ex-boss of Oilquest and Cambridge Mineral Resources – will bring Nighthawk Energy to AIM with an £8 million to £10 million funding today.
Nighthawk, concentrating on ‘stranded gas’ prospects in Utah’s Cisco Springs gas field, hopes to list after a placing handled by Hanson Westhouse at a price thought to be around 25p a share.
Nighthawk has 38 per cent of a joint venture, where the local Running Fox group has 62 per cent, and has already spent significant sums, and Bramhill suggests the prospects in question could hold 75 billion cubic feet of gas and cites market suggestions of a potential net present value equivalent to £96 million. He says Nighthawk plans to drill 60 wells in two years and will be able to have access to a nearby pipeline if it finds the gas it wants.
