Gyllenhammar doubles stake in Nighthawk Energy
Activist value investor Peter Gyllenhammar has more than doubled his stake in Nighthawk Energy by converting a loan note into equity.
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.
On November 1st Nighthawk announced that the Knoss 6-21 well at its Jolly Ranch prospect in Colorado is to be brought into commercial production during November.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
CM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Giorgio Armani: the irreplaceable Il Signore
Giorgio Armani started his fashion business in 1975 and built it into the world’s largest private luxury brand. Where can it go without him?
-
A strange calm in credit
Corporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks