Pre IPO price 4p
Opening price on debut 25p
Floatation price 46p to raise 14million to extend Jolly Ranch
Current fair value estimate 114p
Market cap 70.59 million.
Value of Cisco Springs investments 98 million.
Value of Vogel investments 75 million.
Desparado trucking now Nightfox 250,000 for a 50% stake with partner Running Foxes.
Centurion Project Kansas, 150,000 for a 50% stake.
Jolly Ranch Colorado, 40,000 acres cost 356,000 for a 50% stake.
Cash in bank 7.75 million.

As this EPIC opens on AIM today anything could happen. On the one hand you have traders trying to cash in a sixfold profit. You will also have a clambering of traders after shares because, firstly they could only get 75% of their allocation because of demand. Secondly at 25p this company is still way under valued.

Up this morning. HAWK Bid: 49.25p Offer: 50p Change: 1.25

Oily, thanks for the mention(s) of TMC. Might get back in.

this looking very strong today, happily await the roadshow to get the institutions involved.

Sudden drop in sp, not justified on balance of todays trading. Are they letting a large trade in cheaply?

nothing goes up in a straight line ...... profit taking arguably overdue after surge in last week or so

It went down on 15 May. ha ha.

Still looking cheap though when 117p is the target.

for info found this

Nighthawk Energy plc
05 June 2007

NIGHTHAWK ENERGY PLC

FORMATION OF NIGHTFOX DRILLING LLC AND ACQUISITION OF THE BUSINESS AND ASSETS OF
DESPERADO TRUCKING INC.



The directors of Nighthawk Energy plc ("Nighthawk" or "the Company") (AIM: HAWK)
are pleased to announce details of the formation of Nightfox Drilling LLC
("Nightfox") and the acquisition of the business and assets of Desperado
Trucking Inc. ("Desperado").

Nightfox Drilling LLC

Nighthawk Production LLC ("Nighthawk Production"), a wholly owned subsidiary of
the Company, and its partner in the Cisco Springs project, Running Foxes
Petroleum Inc. ("Running Foxes"), jointly own a significant amount of oil
service equipment, including an Ingersoll-Rand drilling rig and workover rig.

The ownership of this equipment has been transferred into a new company,
Nightfox, in which Nighthawk Production has a 37.5 per cent. interest and
Running Foxes the balance.

The Rocky Mountain region is now one of the most important gas producing areas
in the US and production is expected to increase substantially to meet rising
demand. As a result, activity in Utah is increasing, particularly in the
Paradox, Uinta and Piceance basins. The Cisco Springs project is located on the
Uncompahgre Uplift, which is the boundary of the three basins. Nighthawk and
Running Foxes intend that the Nightfox-owned equipment, when not being used at
the Cisco Springs project, will be leased at commercial rates to third parties.

Desperado Trucking Inc.

Nighthawk Production and its partner, Running Foxes, have acquired the business
and assets of Desperado, a Kansas-based oil services company, for a purchase
price of US$450,000. The assets consist of two water tankers and trucks used
for the transportation of water and frac fluids and all necessary operational
permits. Following this transaction Nighthawk Production and Running Foxes each
hold 50 per cent. of the business and assets.

The business of Desperado is profitable through its existing contracts with
third parties, which Nighthawk Production and Running Foxes intend to continue.
However, the equipment will also be used in the jointly owned Devon oil field,
in Bourbon County, Kansas, on which a waterflood is planned to enable
production. The acquisition is not only expected to significantly reduce the
costs of the necessary water trucking, but also to reduce down time on water
hauling. In addition, further cost savings are expected to be reflected in
other development and production projects acquired by Nighthawk and Running
Foxes in the future.

David Bramhill, Managing Director of Nighthawk commented "The current high
demand for oil field equipment and services can cause delays in operational
activities and escalate costs. The acquisition of the Desperado assets combined
with our existing project infrastructure is another positive step forward for
Nighthawk and will enhance the efficiency of our field operations."



For further information please contact:


Nighthawk Energy plc 01271 882160
David Bramhill, Managing Director office@nighthawkenergy.net
www.nighthawkenergy.net

Hanson Westhouse Limited 0113 246 2610
Tim Feather tim.feather@hansonwesthouse.com
Matthew Johnson matthew.johnson@hansonwesthouse.com

Bishopsgate Communications Limited 020 7562 3350
Dominic Barretto dominic@bishopsgatecommunications.com
Fran Read fran@bishopsgatecommunications.com


This information is provided by RNS
The company news service from the London Stock Exchange

good post, Ciao. thanks!

46.50p ???

Freefall now, can't trade online, not another subsea, is it?

hardly freefall!!!

just a bit of profit taking..........its doubled since it joined AIM

quite so! ...... the market has been overdue a sharp correction for some time and this could well be it ..... the likes of HAWK and that myriad of even tinier minnows that seem to predominate on this site are always difficult to unload at this sort of time ...... i have often warned as much, but typically (nearly) all scoff, but then the Trojans treated Cassandra similarly

Sub doubled as well, that "bit of profit taking" ended at 3p!!!

so bail out then! ..... however, SUB was always at the extreme end of risk (read my posts there if you can be bothered) whereas HAWK seems to have a fair amount of substance and considerably better than blue sky prospects ...... if you have mortgaged your house for HAWK, then get on your knees to your lender!

I always read your posts cynic, that's why I sold mxp at 99p.

hope it was a good call at the time and that you banked a (good) profit ...... must have been a few months back as even had to check who MXP were

A lot of holders are bailing out of this to get into TMC. The other option is IVK, more shares for your money. Third quarter 2007 watch out for a new arrival, Billitung. Sorry off thread but just got up.

still showing about 17.5% clear profit in 2 weeks so am happy to stay put ..... already hold TMC as you know!

Half of yesterdays losses recovered already.

Looks like the market liked the placing news.