(HAWK.L) Nighthawk Energy PLC Buy/Sell

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Oct 7 (Reuters) - Nighthawk Energy Plc reported a narrower full-year operating loss, aided by a surge in revenue, and said its strong balance sheet and a portfolio of assets will continue to add "tremendous value" into 2010 and beyond.
"Nighthawk is in a better financial position than at any time in its history and funds are in place for the development of its core projects for at least the next 12 months," the company said, adding that it remains debt free.
The U.S.-focused energy company reported an operating loss of $2 million for the year ended June 30, compared with $3.5 million year ago. Revenue rose to $497,876 from $138,998 a year ago.
The company also reported a 60 percent rise in non-current assets to $75.2 million.
Shares of the company closed at 35.5 pence on Tuesday on the London Stock Exchange.

(Reporting by Ramkumar in Bangalore; Editing by Himani Sarkar)

(ram.kumar@thomsonreuters.com +91 80 41355800; Reuters Messaging: ram.kumar.thomsonreuters.com@reuters.net)) Keywords: NIGHTHAWKENERGY/

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