Nighthawk, a US focused oil company (AIM: HAWK and OTCQX: NHEGY), announces an extension waiver on its Company’s Reserve Based Loan (“RBL”) renegotiation.
Reserves Based Loan Covenant Compliance
As previously announced on December 10, 2015, the Company received a waiver from the Commonwealth Bank of Australia, the Company’s RBL holder, covering certain non-compliance items. The waiver initially was until December 22, 2016. As the Company and the bank are continuing to work together to modify or adjust the covenants under the RBL to provide for a long term solution that will allow ongoing compliance, this waiver has been extended up to December 31, 2015. A further announcement will be made in due course.