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.

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.........

no no no come on HAWK, your going the wrong way, and i really dont want to stop you out... whats happening...?

Profit taking .?? Now need positive news flows to underpin the SP including a statement with s

Apparently David Bramhill of Nighthawk is appearing/has appeared (9am and 3.30pm) on www.sharecrazy.com today on Board Talk.

Posted this on the TA thread on Friday at the request of BigTed. SP is sitting on the 50% retracement level now of 39p. Make of it what you will.



Not really a lot to go on in trendline world, I have drawn the main from admission (more or less) so worst case scenario is support at 32p, if it tanks, which I doubt it will. So, trying to judge the rate of fall, I would suggest a 35p support level.

In cases like this where a rapid move in the price action takes place, TA officionados often take one of two approaches or a combination of both. Clearly the SP will retrace at some point, but when it starts where will it stop? There is the popular 50% rule, ie, the SP will retrace 50% of the last move; in this case this is equal to 39p. The other approach is 33% and 67% retracement of the last move, the 67% level is absolutely critical, if it does more than 67% it is more or less assured that a full 100% retracement will take place. Well, the 33% has already gone (44p), so 39p (50%) is the next level to look for and then 67% which spookily enough is at 35p!!

Incidentally you may be aware that these percentage levels are derived from the Fibonacci numbers sequence (made famous by Dan Brown's Da Vinci Code) which forms the basis of Dow Theory and Elliot Wave Theory.

In summary then I don't see any reason to buy at the moment, look for support at 39p and then 35p.

pth

HAWK also covered in t1ps Morning Call - by Tom W (value 94p plus - a cash cow) and Zak Mir (to go long once RSI is around 50 with potential 60p tgt).

thanks for that pht was just about to top up!! will wait a little longer. I like the look of these guys so want more

Its about time that the downward trend is reversed as we have another positive update about Cisco Springs.

Powered by IST's

Good RNS , lets see what the market thinks . 50p/ 55p ?

LONDON (Thomson Financial) - Nighthawk Energy PLC said it has found commercial hydrocarbons in each of the seven wells drilled at the Cisco Springs project in Utah, US.

The company, which holds a 37.5 pct stake in the project, said its drill programme has been extended to include another 14 wells and the operator, Running Foxes, is seeking permission for 30 more permits.

Managing director David Bramhill said the cost of each well to completion and casing is about 140,000 usd and that payback should be rapid.

Nighthawk added that the construction of the Broadhead tap and pipeline, which is required for transportation of the planned increased production at Cisco Springs, is in progress

HAWK bounced off 39p, spot on the 50% retracement level of the last move, who says charting doesn't work? Problem is there wasn't anything to say it would :S

pth