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.

RNS trying to sell part of Jolly Ranch should be interesting to see if they have any offers, are they short of cash?

sp picked up on the news...can it climb back to about 80p please..

bb no chance unless they can produce more than a bucket of oil!

i thought hawking was gobbing on the pavement as in india with betel nut juice

cynic is this another Bramhill wheeze!

didnt brammy say hawk will be producing 1000 barrels / day by end 2010 - or is barrels in brammy dictionary really thimbles lol!!

i am sure we will hit the 1000 per day by end 2010? hence the rns for the added resource - gla

Nighthawk Energy discloses Jolly Ranch shale report


07 July 2010

The Jolly Ranch updates from Nighthawk Energy have been coming thick and fast recently.

At the beginning of June, Nighthawk said its three well drilling programme in the second quarter had yielded positive results. Two of the wells were located in the Jolly Ranch core development area and encountered hydrocarbons in several horizons including the two target horizons of the Atoka and Cherokee shales.

The John Craig 7-2 exploration well, some 14 miles from the Jolly Ranch core development area, also encountered hydrocarbons, including in the Marmaton, Cherokee, Atoka and Morrow formations, and according to David Bramhill, Nighthawk Energy's Managing Director, "opens up development significantly north of the Jolly Ranch core area."

Shortly after announcing the results of the John Craig 7-2 well, Nighthawk Energy and its partner Running Foxes signed a deal with Anadarko whereby Nighthawk and Running Foxes have an option to drill two wells on Anadarko's acreage, close to the John Craig 7-2 well, and, if successfully completed for production, would retain 100% of the wells, subject to paying Anadarko a 20% production royalty.

Nighthawk has never made a secret of its desire to sell a chunk of Jolly Ranch to an industry player and it has now, along with Running Foxes, instructed Macquarie Tristone to market up to a 75% interest in the project.

More good news came out today:

Schlumberger Data & Consulting Services was commissioned to confirm independently that the organic rich shales in the Atoka and Cherokee are laterally continuous, specifically between the Craig 6-4 SWD well and the recently drilled John Craig 7-2 well which are approximately 30 miles apart.

Two north-south cross sections were constructed over the project acreage in the Jolly and Craig Ranch areas. The stratigraphic tops were extended from the Jolly Ranch area approximately 30 miles to the north through the location of the recently drilled John Craig 7-2 well.

The report concluded that in both the Atoka and Cherokee formations, the individual shales can be readily correlated through the area covered by the cross sections. In addition, it was concluded that the result provides confidence that shales are present under most, if not all of Nighthawk's acreage.

In addition to providing confidence about the extent of the shales, the Schlumberger report may well help the sales process along!

Thing seem to be hotting up.


http://www.independent.co.uk/news/business/news/anadarko-looks-at-onshore-oil-2034669.html

From todays Independent.

Anadarko Petroleum, the Texan partner in BP's Deepwater Horizon oil well which exploded in April, is eyeing a 75 per cent stake in the onshore Jolly Ranch scheme in Colorado.


The move would be significant, as offshore schemes could present difficulties after the Deepwater spill. Anadarko has refused to pay its share of the clean-up bill, after its chief executive, Jim Hackett, accused BP of "reckless decisions and actions".

The Jolly Ranch scheme is a 50:50 joint venture between Running Foxes Petroleum in Colorado and the London-listed Nighthawk Energy. They require a big-name partner with a strong balance sheet to help develop the potentially lucrative project.

Prices for oil fields vary wildly, which means the duo could end up accepting anything between $300m and $1.5bn for the stake.

Several US oil majors are interested, and adviser Macquarie Tristone is hopeful that a sale can take place in the fourth quarter of this year.

Nighthawk's chief executive, David Bramhill, declined to comment.

Anything that makes this dog bark will make me very happy.,.

i can no longer get excited about this stock .... too much history of management hype and non-performance

Guys : legal action against posters on the other side....so they do read what we put....better not put Clubman on this one.....

he'ld just call them a bunch of gays!

Frankly : I've dumped this as I think they'd do better to turn it into real estate than oil production !.

I cannot be bothered with this company.

When compared to MATD, RKH, COV and others....who wants this 20 barrels per day....and what production do they have ?...their answer is 375000 acres...so what ?.....I expected a couple of years ago at least 10000 per day by now....they're not up to a thousand yet.....(I will have to check that)....until Jolly Ranch is sold or whatever they call it...the sp probably won't do anything...so to me better value elsewhere....

cynic are you still in this one?

no; got out 2/3 months ago - total waste of space and i also have no confidence in the transparency of management statements

cynic we hav'nt followed what has allegedly been said on the other side but would like to know whether you feel any of it is justifiable( without predjudice ).

don't know what was said as i never venture into other sites ..... 20 minutes on advfn a couple of years back was quite sufficient ..... hard to believe any comment was (could be even) that defamatory anyway