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.

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 :-)

Dalton s increased their holdings .

I've topped up today as well--hope there's some good news coming!

I sold my PET far too early---Douglas Wright owns sizeable chunks of PET, HAWK and also TOM I'm joining in on the last two following him!

Halifax, not sure about the oil but the next update I am expecting is to say that the recent gas wells at Cisco springs have been connected to gas pipes for production to increase.

Good trading today, but can't find any reason for move in sp or will it be back to normal tomorrow with the two day slide off !

I am comfortable with the SP at the moment and confident it will tick up nicely given time.

Hawk have taken money from the markets to fund exploration so far (as have other exploration companies). The test wells and reserves found so far were proven reserves many years ago, but not worth extracting due to the low price of oil and gas back then. The commercial quantities lying in the ground are now worth extracting based on price alone,but do not compare to some of the larger fields today. These type of fields would be of no interest to the likes of BP/Royal Dutch etc because the quantities are considered to small. Production through the new pipeline connection will certainly lift the SP and the Oil production will help cashflow for HAWK. Look at the price HAWK paid for some of the land, it was cheap considering the reserves were already proven (Why) Hopefully HAWK will discover new reserves of oil/gas and on production of these we may well get what we are all waiting for. (THIS IS JUST MY OPINION, I AM STILL OPTIMISTIC DAVID B. WILL TAKE HAWK WHERE IT NEEDS TO BE)

GE&CR recommended buying Nighthawk Energy at 39p, yesterday with a medium term target price of 96p