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.

The statement above erodes investors confidence. It shows its assets are non-profitable and they are now putting all their eggs in one basket.

Its dog eat dog out there

Without being rude...this stock is stinky poo now !....market cap is still too high...47 million pounds...should be 30 million....

Yeah, it smells terribly.

RNS not so "jolly", how long before "game over"?

Will drop perhaps to as low as 6p ?...just a guess....would not bet on it but it's a possibility...

what a day - i remember selling this for 1+ some years ago - now look at it! they obviously couldnt get interest so had to start urgent reduction in cash burn - the only way for the next 12 months is maintain current level if they are real lucky or drop only to 6p if lucky - not much christmas cheer here!!

AGM write up :

http://www.iii.co.uk/articles/13459/rough-ride-board-nighthawk-energy-agm

.

not looking great.

Very bad update today... Jolly Ranch doesn't live up to its expectations.

oh dear - it gets worse - word is further fund raising & dilution soon

word has long been abroad that this company belongs alongside the likes of EME!

cynic you are not wrong when you remember the loads of RNS's issued by the former MD David Bramhill hyping the potential of Jolly Ranch and Cisco Springs which subsequently seem to have just enough oil to fill a family car.

David Bramhill has since moved on to Wessex Resources (WSX) ....... watch this space!

halifax i think you are being a tad generous ref hawk having enough oil to fill a family car - possibly just enough for a tata nano - lol - nice car!!

http://www.google.co.uk/imgres?imgurl=http://abhisays.com/wp-content/uploads/2008/01/tata-nano-standard.jpg&imgrefurl=http://abhisays.com/ideas-and-thoughts/tata-nano-the-one-lakh-car.html&h=300&w=450&sz=37&tbnid=qmSnRFx4v8nvkM:&tbnh=85&tbnw=127&prev=/search%3Fq%3DTata%2BNano%26tbm%3Disch%26tbo%3Du&zoom=1&q=Tata+Nano&hl=en&usg=__iuTxGCEFYFdO5P9Xlx1cViFDlWk=&sa=X&ei=kZO_Tf3AM8iyhAff4rnABQ&ved=0CEwQ9QEwAw

http://abhisays.com/ideas-and-thoughts/tata-nano-the-one-lakh-car.html

HAWK is going to pre-IPO price... SELL.

In Nov, 2010, the directors put all their focus into Jolly Ranch and on 28 April, it does not live up to expectation. Very poor approach of management. No diversification.

Terrible stock....what else can be said...

Not a lot except except sometimes it's not worth selling! Just have to wait for the miracle.