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.

.

Next week should bring the sp to mid 50s .

Why ?

We are due drilling updates from their six week programme, but this could still be a couple of weeks away! (so why will the sp go to mid 50's?)

UPDATE on drilling project expected mid July !

Dropping today, like everything I suspect

Its been dropping for a week.

I suspect a mixture of profit taking and market movements in general ! Topped up today with 115k shares. Took a while to get them bought so traders still hoarding I think. Volumes a bit shy elsewhere so they were not busy serving others! Lets hope the next bit of news is as good as that received so far......gl to all...

though charts are rather meaningless with such a new stock, sp is just retesting 25 dma and rsi is, at least, back in more sensible territory

What we need now is actual production figures. Oil in the ground does not pay overheads.

tell that to the holders of the likes of CHP, GOO, ELP etc etc!

Well if the sp rises on test results (OIL in the ground) actual production can only lift it further...... I will sit tight on this one......Holding 165k shares (ave. price 39.50) and think this one will perform again soon on forthcoming test results. I can see this one being a target for a major once they prove more reserves. My target for the next three months 65-70p, but will hold 50k long term........... gl to all ...

i shall consider topping up today too

Cynic did you top up today or can you see the sp going down more

bought CSR instead

David Bramhill, Managing Director of Nighthawk, said: 'The Cliffs acquisition
represents a low cost and low risk entry into a project with potentially
significant gas and oil reserves in a proven hydrocarbon province. Shale gas
resources are now becoming very important to North American gas supply in
replacing production from conventional fields. Several large US operating
companies, including Hunt Petroleum, Forest Oil, El Paso, Quicksilver and CNX
are recent entrants to the area. In addition, the growing demand for ethanol
production in the Illinois area is seeing a number of new plants being built
increasing local demand for gas. The increase in demand, higher gas prices,
production longevity and the low cost of drilling and development make the
Cliffs project a valuable addition to our growing production and development
portfolio.

glad it seems predominantly shale gas (i hope) and not shale oil (see BLR for why!) ...... confess have no understanding at all how gas pockets can remain stable (if that is the right word) in something as seemingly porous as shale ...... enlightenment please

anyway, topped up at 46.7 though holding is still only about 70% of norm

as flipper point it out
Acquisition of Interest in the Cliffs Shale Gas Project, Illinois Basin

here is the full story
http://www.investegate.co.uk/Article.aspx?id=200707020701073975Z

where is everybody????
I still hold .. till Xmas any way.... then I hope to buy myself a nice present... ;-))

Strong performance today, well ahead of market ! Drilling results must be here shortly !

Or other news !

gl.........