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.

nice to hear from you ST.

Evening ST, long time no Post. Let's see what they do with Jolly Ranch!

We have breakout, not surprising really (oil $102) !

Hey, if I'd known I was going to get that warm a welcome, I'd have staged a comeback more frequently! :o) Nice to see all of you!

Cynic: indeed! Reports of my death have been greatly exaggerated. I have been in cryogenic freezing and just thawed out sufficiently to type these posts when they removed me from my pod for cleaning.

And here's a pretty picture I drew...:

it has taken a while, but as far as i can see, HAWK has so far not put a foot wrong

Spread is quite encouraging too: HAWK Bid: 60.75p Offer: 61p Change: 4
Buy:Sell almost 2:1

Cynic, this is one oiler that is not entirely about speculative drilling, as they have all of those producers lined up at Devon and estimated 10mmbbl of P90 reserves. Don't ask me to remember any details about Cisco, etc., but it too appears promising.

me the cynic? ..... have you been studying hard or something?

:o)

I presume news coming tomorrow! If not this could be a build for Friday......

Really flying now

doing very well indeed ...... but very difficult to know when they have got too far ahead of the game .... by the way, what's due tomorrow? .... figures?

A little fall back today , but greater gains to be had next week .

Still holding up well. Perhaps it's getting ready for the next push up. Others in the sector doing well too.

http://momentum-trader.co.uk

According to Sharesope: next interim results due on Friday 14/3/08.

Whilst Cisco & Devon will make good money, I understand that the city is really interested in the Jolly Ranch part of the HAWK portfolio.

Hola! The results came out today, in fact. No nasty surprises, all the news looks encouraging (albeit nothing we didn't already know) and they've got 17mil in the bank.

Scarcely surprising that there was a bit of profit-taking today by short-termers, but I'm happy to hold.

PDYOR, etc.

Does anybody know when they are going to produce commercial quanties of oil and gas and how much? Or is this still more pie in the sky?

Hi Halifax. According to recent RNS's (a mention of this should be in today's results too), a large number of wells have been logged and cased as producers - so commercial production is on the way. although what the timetable is for getting the infrastructure set up, I cannot say. Of all the pies out there, this one appears to be quite close to the ground. :o)

PDYOR, though, as I'm saying this from memory.

Halifax, this does not quite answer your question, but the companies strategy is clear. Expand & prove up their asset base to increase the share price and then sell the lot. From previous discussions David B has mentioned that a sale could take place when they had increased their market capitalisation to circa 250m, so currently half way there, but that remains to be seen. I think they might well achieve that target quickly and then hold out for more. Time will tell. Either way, I intend to hold until the bidding war is underway or has concluded.


From Thompson Financial:

Managing director David Bramhill told Thomson Financial News that Nighthawk expects to be self-funding within the next 12-18 months as its various projects begin producing.

It is part of the company's strategy to build its asset base within the next two years and then sell to a mid-tier oil and gas producer, Bramhill said.

That strategy sounds fine but shareholders should be told the likely output before the company is sold otherwise how does one know whether a fair price is being paid?