Nighthawk Energy plc Update on Chapter 11 proceedings (0337O)

TIDMHAWK

RNS Number : 0337O

Nighthawk Energy plc

14 May 2018

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Update on Chapter 11 proceedings

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces that it has today obtained orders (the "Orders") from the English High Court recognising the Chapter 11 proceedings commenced by the Company and its U.S. subsidiary Nighthawk Royalties LLC ("Nighthawk Royalties") on Monday 30 April 2018 in the United States Bankruptcy Court for the District of Delaware as a foreign main proceeding under Article 15 of Schedule 1 of the Cross-Border Insolvency Regulations 2006 (" the CBIR").

The effect of the Orders is that the English High Court ("Court") has imposed a stay on any action or proceeding against the Company and/or Nighthawk Royalties and their property except by leave of the Court and subject to such terms as the Court may impose, pursuant to Article 20 and Article 21 of Schedule 1 of the CBIR, as well as pursuant to the Court's common law powers of assistance.

The Company's ordinary shares remain suspended from trading on AIM pending clarification of its financial position.

Further announcements will be made in due course.

Enquiries:

 
 Nighthawk Energy plc 
 Rick McCullough, Chairman         +1 303 407 9600 
 Chris Kohler, Interim 
  Chief Financial Officer     +44 (0) 20 3582 1350 
 
 Stockdale Securities 
  Limited                     +44 (0) 20 7601 6100 
 Richard Johnson 
 Edward Thomas

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 14, 2018 12:48 ET (16:48 GMT)

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