The company was formed in April 2006 by former members of the exploratory energy company Oil Quest Resources, which merged with AIM-listed Encore last year.
Following the successful exit, the company led by managing director David Bramhill, who has spent a lifetime in the industry, felt there was a demand amongst investors for a safer bet in the energy sector.
The company has responded by taking a 37.5% stake in the Cisco Springs Gas Project, Utah, USA, where it owns its own rig.
Unlike its previous projects Nighthawk is solely dedicated to production and is not engaged in discovery.
Bramhill told Growing Business that drilling at Cisco has, so far, produced a high return with seven out of seven of drills successful, usually the ratio is closer to three out of every four.
Bramhill is enthusiastic about joining the AIM market and says that Nighthawk was formed with the intention of a float from its inception.
“It is an entrepreneurial market full stop,” Bramhill told GB.
“A lot of people lose track of what it is all about AIM is all about.
“I think it is pretty well regulated, if anyone went through the amount of due diligence that I have been through I don’t think they would say it need more.”
Exact details of the company’s float cannot be revealed at this time but fund raising is believed to be going well and more precise details are expected later this week.
The company is scheduled to start trading on March 12, 2007.
© Crimson Business Ltd. 2007
