10 mars, 2016

Water Flood Approval and Year End Reserves Update

10 March, 2016
Water Flood Approval and Year End Reserves Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the water flood project approval hearing and also reports the 31 December 2015 year end reserves.

Water Flood Project Approval
As previously disclosed, the Company made a filing seeking approval of its planned Arikaree Water Flood Enhanced Oil Recovery Project (the ”Project”) with the Colorado Oil and Gas Conservation Commission (the ”COGCC”), the state oil and gas regulatory body. On 8 March, 2016, the COGCC approved the Company’s application for the Project, subject to the Company obtaining 80% approval of the non-working interest owners within the next six months, using an agreed upon revenue allocation method. The Company believes that the required approvals will be obtained in the next few months. A further announcement will be made in due course.

As disclosed in the Company’s announcement of 23 October 2015, the Company’s preliminary estimates for the total Oil In Place (”OIP”) in the field potentially may be up to 16.6 million barrels. As shown in the table below, the estimated ultimate recovery under the water flood project ranges between 30%-40%. This compares to the current 17% recovery experience from the conventional wellbore production.
Range(in Mmbbls)

Low High
Estimated total OIP 16,60 16,60
Estimated Recovery 30 % 40 %
Total Estimated Recovery 4.98 6.64
Production to date (est.) (1.50) (1.50)
Estimated remaining recoverable reserves 3.48 5.14
PDP currently booked in reserve report 1.40 1.40
Estimated incremental recoverable reserves 2.08 3.74


During the course of preparing the Company’s regulatory filing, the Company engaged a third party engineering firm to make estimates using sophisticated, predictive reservoir models of the OIP, the ultimate recoveries of oil associated with the water flood project and how the oil would be produced once implemented.

The final estimates are closer to the high side preliminary estimates shown above. The original estimate for the high end of the range was 40% estimated recovery resulting in 6.64 million barrels, whereas the third party simulation model puts the estimated recovery at 38.8% and 6.57 million barrels. This engineering projection shows monthly production rates to more than double the current production under primary recovery for up to the next 5 years. The Company will be posting on its website, shortly, a presentation which provides a more detailed explanation of the Project and its benefits.

As detailed in the table below, the Company’s external reserve engineers have estimated the low side of the incremental reserves from the water flood project as Probable Reserves at 31 December 2015. The Company expects these reserves to be reclassified to the Proved Developed Producing category once capital for the Project is deployed and the Project becomes operational.

Year-end Reserves

The Company has finalized its year-end reserve report and has received the audited 2P reserve report from the Company’s independent reserve engineering firm, Ryder Scott Company LP under SPE standards. The reserves were estimated using current production, anticipated decline curves, actual operating costs and an average realized price of $43.25/Bbl. The reserve volumes, in barrels, are presented below:

31 Dec 2015 31 Dec 2014
Proved Developed Producing 1,405,800 1,315,066
PUDs and PDNP 0 524,708
Total Proved Reserves 1,405,800 1,839,744
Probable Reserves (1) 1,423,015 0
Total Audited Reserves 2,828,815 1,839,744
Possible Reserves (2) 807,000 0


(1) Probable reserves represent water flood project response reserves around existing wellbores and projects in-fill wells
(2) Possible reserves are managyvement estimates of additional water flood potential using the low range of estimates recovery


The decrease from prior year total proved reserves is due to reserves associated with Proved Undeveloped (PUD’s) and Proved Developed Non-Producing (PDNP) categories which have been deemed uneconomic at current pricing. The increase in Proved Developed Producing, which is net of annual production of approximately 650,000 gross barrels, is due to better than projected production results in existing wells.

Rick McCullough, Chairman of Nighthawk, commented:

”The regulatory approval of the Arikaree Creek water flood project is a major accomplishment for the Company. The approval of this project, which was envisioned by Chuck Wilson and his team a couple of years ago, validates the quality of the technical analysis and the merits of the project for Nighthawk and the field’s landowners.

We hope to complete the project later this year once we obtain the 80% landowner approval levels. Once the project is completed, we expect to see a significant increase in daily and annual production as well as an increase in field reserve levels. This project is ideal for these market conditions and is the top priority of Nighthawk.”

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.


Nighthawk Energy plc

Rick McCullough, Chairman                                          +1 303 407 9600
Kurtis Hooley, Chief Financial Officer Elect      +44 (0) 20 3582 1350

Stockdale Securities Limited                       +44 (0) 20 7601 6100
Alastair Stratton
Robert Finlay
David Coaten



MMBLS – Million barrels of oil

Proved Reserves – Proved reserves are reserves that have a 90% chance of being higher than estimated and a 10% chance of being lower. Proved reserves include PDP, PDNP and PUD reserve classifications

PDP – Proved Developed Producing reserves are expected to be recovered from completion intervals (oil producing zones) that are open and producing at the time of the estimate

PDNP – Proved developed reserves that can be expected to be recovered from zones behind casing in existing wells, or from zones that shut-in for market conditions, pipeline connections or mechanical reasons and are capable of production, but the timing is uncertain.

PUDs – Reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion or opening of new zones of production.

2P – Proved and Probable Reserves

Probable Reserves – Probable reserves are reserves that have a 50% chance of being higher than estimated and a 50% chance of being lower

Possible Reserves – Possible reserves are reserves that have a 10% chance of being greater than estimated and a 90% chance of being smaller

SPE – The Society of Petroleum Engineers





9 mars, 2016

Februari månads produktion 59,7 GWh

2016-03-09 15:00

Svagare vindar än normalt under februari månad resulterade i en elproduktion om 59,7 GWh (69,5 GWh), vilket är 9,8 GWh under budget.

Månadens produktion fördelade sig på 31,7 GWh Egen (40,1 GWh) och 28,1 GWh samägd (29,4 GWh) vindkraft.

Halmstad den 9 mars 2016

ARISE AB (publ)

För ytterligare information, vänligen kontakta

Daniel Johansson, VD Arise AB, +46 702 244 133

Informationen är sådan som Arise AB ska offentliggöra enligt lagen (2007:528) om värdepappersmarknaden och/ eller lagen (1991:980) om handel med finansiella instrument. Informationen lämnades för offentliggörande den 9 mars 2016 kl. 15.00.

8 mars, 2016

Year-end-report 2015

Claesson & Anderzén AB, the Group, has today published its annual report for 2015. See, where the report can be downloaded.

The net turnover amounted in total to SEK 2,236 million (1,711) with rental income increasing to SEK 590 million (556).

The net turnover of the agricultural business amounted to SEK 403 million (228), an increase mainly attributable to reduced stock between the years.
The occupancy rate for the property portfolio at year-end was 91 per cent (93), including acquisitions of real estate with substantial vacancies during the year. This indicates potential for increasing the Group’s total rental income.
The operating surplus from real estate management increased to SEK 359 million (339).
Sales of properties as well as profit/loss recognition of real estate development projects contributed strongly to the result for the year. The result from these operations amounted in total to SEK 446 million (208).

The result of the agricultural business was SEK 148 million (48) in spite of the continued turbulence in Ukraine throughout the year, resulting in sharp devaluations of the local currency.
The Group’s holdings in Catella AB, corresponding to 49.9% of the capital, have been a major contributor to the result for the year. The Group’s share of Catella AB’s result amounted to SEK 121 million (105).
The result after financial income and expenses increased to SEK 787 million (461).
Equity ratio amounts to 38.8% (32.1). For the second year, in accordance with new K3 accounting regulations, the Group will be reporting market value of property and derivatives. The value is presented only in notes, and amounted on the real estate balance sheet date to SEK 8.6 billion (8.0) and, for derivatives, to minus SEK 0.28 billion (minus 0.35). Taking these values into account, the Group’s adjusted solidity amounts to 59% (51).

The Group is not presenting any forecasts for future periods.
“The result for 2015 exceeds our forecasts. Most of the Group’s portfolio companies have improved their business. Not least, it is extremely satisfactory to say both that the Group’s agricultural company in Ukraine, BZK Grain Alliance AB, reports a strong result in spite of an exceptional situation in the country, and that Catella AB continues to demonstrate vigorous growth as well as good profitability. This, together with the very robust result of our real estate company, CA Fastigheter AB, has contributed to a historically good result for the Group,” says Johan Damne, CEO of  Claesson & Anderzén AB.


29 februari, 2016

Arise avyttrar vindkraftprojektet Solberg om 75 MW till Fortum

Arise avyttrar vindkraftprojektet Solberg om 75 MW till Fortum
Arise AB (publ) (“Arise”) har ingått avtal med Fortum Generation AB (”Fortum”) om avyttring av det byggklara projektet Solberg 75 MW (”Projektet”). I tillägg kommer Arise att leverera byggprojektledningstjänster till Projektet. Byggstart är villkorat slutligt investeringsbeslut av Fortum.
Arise förvärvade ursprungligen Projektet från Ownpower Projects AB (”OPP”) under 2011. Projektet har därefter utvecklats i partnerskap med OPP genom ett vinstdelningsavtal. Köpeskillingen för Projektet kommer därför att delas mellan Arise och OPP. Arise andel av vinsten förväntas kunna uppgå till maximalt 30 MSEK och beror delvis på hur byggnationen av Projektet faller ut. Därtill får Arise ersättning för nedlagda kostnader i samband med att transaktionen genomförs uppgående till ca 33 MSEK. Transaktionen genomförs idag. EY har agerat finansiell rådgivare till Arise.
“Vi är mycket glada över att samarbeta med Fortum i detta projekt och ser fram emot att genomföra projektet med ett av de ledande energibolagen i regionen. Det är också glädjande att denna transaktion ytterligare stärker Arise ledande position på den svenska vindkraftmarknaden. Vår portfölj, tillsammans med vår bygg- och förvaltningsplattform fortsätter att vara en attraktiv kombination för investerare inom förnybar energi i norden.”, säger Linus Hägg, finansdirektör, Arise.
“Vi är glada över att arbeta med Arise i genomförandet av Solberg projektet. Projektet är byggklart med mycket goda förutsättningar för vindkraft. Projektet passar också bra in med vår nyligen offentliggjorda strategi att växa kraftigt inom vindkraft.”, säger Mikko Iso-Tryykäri, Business Development Manager på Fortum.

Halmstad den 29 februari 2016
ARISE AB (publ)

För ytterligare information, vänligen kontakta
Linus Hägg, finansdirektör Arise AB, + 46 702 448 916
Peter Nygren, Affärsutveckling Arise AB, +46 706 300 680
Informationen är sådan som Arise AB ska offentliggöra enligt lagen (2007:528) om värdepappersmarknaden och/ eller lagen (1991:980) om handel med finansiella instrument. Informationen lämnades för offentliggörande den 29 februari 2016 kl.13.00.
Om Arise
Arise är ett av Sveriges ledande företag inom landbaserad vindkraft med affärsidé att utveckla, bygga och förvalta landbaserad vindkraft i egen regi och för andra. Bolaget är noterat på NASDAQ OMX Stockholm.
Arise AB (publ), Box 808, 301 18 Halmstad, tel. 46 35 20 20 900, 556274-6726

22 februari, 2016

Revised fee structure for Catella Hedgefond

22 February 2016 08:11 | Catella AB

Catella has decided to revise its fee structure for the Catella Hedgefond fund, to better respond to changing market demands. Catella Hedgefond has previously applied an annual reset of its high water mark, but has now chosen to instead implement a perpetual high water mark.

Press release

Since its inception in 2004, Catella Hedgefond has delivered an average annual return of 5.6 percent. The average standard deviation during the period was 2.6 per cent. In both 2014 and 2015, the fund was named Hedge Fund of the Year by

When Catella Hedgefond was founded in 2004 the fee structure at that time, with an annual reset of the high water mark was by no means unique in the market, and the fund rules that regulate the fees charged were of course approved by the Swedish Financial Supervisory Authority.

“However, since market practice has since then gradually moved towards the use of a perpetual high water mark, we find no reason to retain this principle. It is important to emphasise that the model we have applied until now has been clearly communicated, is fully in line with current regulations and entirely in accordance with the fund rules approved by the Financial Supervisory Authority,” says Erik Kjellgren, head of the Swedish fund management operations.

The revision must be similarly approved by the Financial Supervisory Authority, and can then be applied immediately.

“We believe in our fund management model and we naturally care about full transparency, including in our fee structure,” says Erik Kjellgren.

For more information, please contact:
Erik Kjellgren
Head of Swedish Fund Operations
+46 8 614 25 12, +46 70 314 40 35

Press contact:
Ann Charlotte Svensson
Head of Group Communications
+46 8 463 32 55, +46 72 510 11 61