Vernalis to raise £68.5m 10/02/2012
Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Nighthawk growth continues
Nighthawk's Jolly Ranch prospect in Colorado
US-focused Nighthawk Energy increased assets 65 per cent to £76 million in the first half year, while losses reached £297,000.
The AIM-quoted company, steered by entrepreneurial David Bramhill, increased revenue 218 per cent to $1.01 million (£670,000) in the six months to December and raised £22.4 million at 35p, while listing American Depository Receipts on New York’s junior international market, OTCQX.
Bristol-based Nighthawk completed a six-well winter drilling campaign at Jolly Ranch, its half-owned 370,000-acre prospect in Colorado, where the Schlumberger oil resources giant began a new evaluation, and is embarking on an evaluation of gas reserves on part of its Revere project on the border of Kansas and Missouri.
Nighthawk’s shares fell from 59p to 20.25p over the past year. Now 21.25p, up 1p this morning, they value the company at £70 million.
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