Activist value investor Peter Gyllenhammar has more than doubled his stake in Nighthawk Energy by converting a loan note into equity.
Gyllenhammar, a Swedish investor renowned for spotting undervalued companies, now holds 10.9% of AIM-listed Nighthawk, a US-focused shale oil development and production company. The transaction takes his stake from 42.7m shares to 99.7m.
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As previously reported, the well is the third drilled in the current programme. The drilling revealed that the average oil/water ratio was around 25/75 for the combined formations and the total amount of oil recovered was over 180 barrels, indicating oil production potential under pumping conditions above 200 barrels a day for the well.
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The worst London boroughs to sell a second home as investors face £16k capital gains tax billProperty investors selling up in London are benefiting from a decade’s worth of house price rises, but for many it’s resulting in higher capital gains tax bills
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UK to have highest inflation among advanced economies this year and next, says IMFThe International Monetary Fund (IMF) says it expects inflation to remain high in the UK, while lowering economic growth forecasts for 2026.
