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.

good news today--better profits this way. this share seems way under valued to me.

Agree mp, agressive production programme on shore, low cost in comparison to offshore, maximising potential of known assets. Met the Mngt team at the t1ps Master Investor 2007 event. Bags of potential & HAPPY TO HOLD. Pse DYOR.

Is it sunny in Devon today?

M+ .... sp has certainly performed well and it's good to see a modest/sensible spread on such a small stock .... whether it is undervalued etc etc, i really have no clue

lovely day in Devon today--and shares are doing well as well!

cynic--I should buy some if I were you--they have 60 more wells to open up and lots of success so far. only my opinion of course!

recent t1ps Aim Newsletter recommendation and target of 83p.

Going like a train at the moment. Lovely jubbley.l

It's been tipped everywhere, iii, uk analyst, every buy seems to move it, think this will be over 50p tomorrow the way it's going.

ok you bastards .... you have suckered me at 36.75, so the call had better be right or there will be a lot of abuse flying around this thread ..... rotfl!

cynic, you won't be dissappointed, you can either slate it as another spiv stock or you can enjoy the profits like the rest of us. I trust you had a little look at the company before jumping in. Unlike GOO and CHP they already own 37% of Cisco Springs, with over 60 wells that are producing and another 60 or so to be added over the next couple of years. Value of Cisco was 98million before pipeline. Thats 3 times the current market cap, and gives you Vogel on a free ride. Given time this should reach 83p on what they have now, if in 2 years they manage to double production at Cisco you could be looking at 166p at least.

nice rise today-that's cynic's buying! keep going like this he'll be out again soon lol.

and he'll no doubt buy back in when everyone else follows his suit!

Nighthawk have now paid Running Foxes, their full consideration less a discount for early settlement, of their 37.5% share in Cisco Springs. This should now raise sp to 65p purely on the current valuation of CS.

Hi cynic, bet your glad your in.

too early to tell yet ..... plenty of time for sp to crash!

Thats our cynic, lol. I think this ones now on the way up.

would hate to disappoint by being cheey first thing in the morning .... lol!
BUY SCHE by the way

Drilling and project update just out. If 3.1million barrels at $66 per barrel times 35% retrieval rate equals $71.61million, times 80% holding is $57.288million divided by 2 into 28.644million approx. This would be equivalent to another 18.86p onto the sp.

Target price should now be 84p approx.

Cynic, dont sell yet, plenty more to come. Plus 3p on the day to 43p. Thats about 17% profit for you in a week.