Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/nighthawk-purchases-remaining-25-working-interest-.shtmlNighthawk purchases remaining 25% working interest in Smoky Hill & Jolly Ranch
Nighthawk says that its wholly owned subsidiary, Nighthawk Production LLC, has completed the purchase of the remaining
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Nighthawk says that its wholly owned subsidiary, Nighthawk Production LLC, has completed the purchase of the remaining 25% working interest in its Smoky Hill and Jolly Ranch projects in Colorado from Running Foxes Petroleum, Inc. (RFP).
Key Terms of the Deal
Acquisition by Nighthawk from RFP of an additional 25% working interest in all leases in the Smoky Hill and Jolly Ranch projects in the Denver-Julesberg Basin, Colorado in which Nighthawk currently owns a 75% working interest and is the operator Total acreage of the leases is approximately 300,000 gross acres in Lincoln, Washington and Elbert counties, Colorado The purchase price is US$12 million, payable in cash The acquisition has been funded by a short-term bridging loan, the terms of which were announced on 19 July 2013 As a result of the acquisition of the additional 25% working interest, Nighthawk now owns a 100% working interest in all its leases and the property, equipment and information associated with the leases including all producing wells and geological and drilling data Background
