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.

A short flight indeed !

Always does it, flies up profit taking tumbles down, new holders in price then goes up again. Maybe a short flight, but it hasn't landed yet.

Don't forget that the initial SP was around the 25p level, so only natural that people are taking profits on a doubling of the SP.

Funny old thing when Big Ted asked me for my opinion as to how far HAWK would retrace (and it was 50%) I initially drew lines on the HAIK chart and thought what a good short that would be, as it turns out it is, should have mentioned it! But HAWK going great guns now, well done chaps :)

pth

LONDON (Thomson Financial) - A better-than-expected find at its Guanzhuang project led China Goldmines higher early on, up 19-1/2 pence to 129.

The AIM-listed group said the project contains inferred resources of 1.83 mln ounces, according to an independent estimate, and that an independent assessment indicates that the project's resources could be increased by a factor of 4 - 6 after further exploration.

The statement followed a report in the Telegraph this morning that China Goldmines had discovered up to 10 times more gold at its sites than expected.

Positive drilling results led Nighthawk Energy higher, up 3 to 50-1/2, as the group results from its Devon project in the US have substantially exceeded its expectations.

The US-focused hydrocarbon production company said it now plans to expand the appraisal and development programme to 54 wells.

Difficult to see why such good news should have little effect on sp. MM's? General market conditions? Profit taking?. Thought we would have this this one close at 50-51 with more legs today. Down 2% so far!

Think they may have overdone the drilling RNS what we need is some news of actual production.

I believe that production will come with a rise in oil prices. At the moment Nighthawk and Running Foxes are happy to stockpile their assets.

No production = no cashflow

Cashflow has been coming via placements, but gas sales will provide cash in the short term.

Are oil prices not historically high at the moment ?

Nighthawk Energy plc
27 July 2007



NIGHTHAWK ENERGY PLC



DIRECTOR / PDMR SHAREHOLDING



Nighthawk Energy plc ('Nighthawk' or 'the Company') (AIM: HAWK) announces that
it received notification on 26 July 2007 that on that day, Directors of
Nighthawk purchased ordinary shares of 0.25p each in Company. The number of
shares purchased and resulting shareholdings are detailed in the table below:




Director Number of shares Price paid Resulting holding Resulting
purchased percentage holding

David Bramhill 25,000 45.91p 5,417,400 3.16%
25,000 46.50p

Dr. Roger Norwich 50,000 45.50p 4,384,000 2.56%
Joseph O'Farrell 100,000 45.73p 4,600,000 2.68%
Geoffrey Metzger 22,000 46.50p 1,022,000 0.60%

Nice to see some buying at a time when most people would be running for cover. Gives me a bit of confidence in the company.

Maybe the directors have some production news lined up !

that would preclude him dealing

Good point. !

Lots of apparent selling today, but no real effect on the sp !
Any reason why!

LONDON (Thomson Financial) - Nighthawk Energy PLC said a study based on previous production wells at the Jolly Ranch project in Colorado has shown that the Marmaton and Cherokee pay zones cover the entire acreage and the wells will be re-drilled starting from September.

The study also identified additional bypassed oil zones in the wells that will be further exploration targets in the future wells of the project area.

The three previously producing wells, dating from 1984, 1985 and 1995, will be re-drilled, the first in September 2007, and the last two in the fourth quarter of 2007.

In addition the company said it will start a 3-D seismic programme over the project area in September.

The Jolly Ranch project is 50 pct owned by Nighthawk, and is operated by privately-owned energy company Running Foxes Petroleum Inc which holds the other 50 pct.

Managing director David Bramhill commented 'Since we acquired Jolly Ranch in June, our expectations in respect of the project have increased and this has been confirmed by the evaluation work carried out by Bowler Petrophysics.'

kathy.sandler@thomson.com ks

pure carnage today

When will they start pumping oil?

Strong recovery today without news flow :-)