West African hopes cheer Forte 16/03/2010
Forte Energy expects new uranium resource figures for its Mauritanian projects shortly and could start producing from Guinea by 2012.
Nighthawk makes gas find
US-focused Nighthawk Energy says it has made a ‘significant’ gas discovery at the Devon Oilfield in Kansas.
The Bristol-based company, whose other interests include the promising Jolly Ranch oil and gas field in Colorado, reports testing the Graham 6-36D-3 well in the Devon field resulted in a flow of 627,000 cubic feet of gas a day. AIM-quoted Nighthawk, steered by the entrepreneurial David Bramhill, has hooked the well to a local pipeline and is now delivering 160,000 cubic feet to be sold into the market.
Nighthawk holds 80 per cent of the project and Foxes Petroleum Inc., the operator, has the remaining 20 per cent. Nighthawk shares, floated at 25p two years ago, hit 114.75p last May before turning south and now stand at 24.5p, valuing the company at £65 million.
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