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.

is there anything untoward wrt this company or is it just ffollowing the market slump. it looks like a good SP to get in at does it not?

Hawk's problem is that they are doing a lot of drilling but production of only one or two barrels a day so far from each well can hardly cover their costs.

The point with HAWK is to build a large porfolio of assets and sell them on block to the highest bidder.

This will probably be within the next year or so, as DB wants to then move on with his new baby Osceola, developing coal bed methane in the US.

There is nothing wrong with HAWK, it is just market conditions.

Oily if David Bramhill hopes to find a buyer for Hawk he has to show that actual production is greater than 1 to 2 bopd per well. Even the likes of SER and IVE are producing more on a much lower market cap.

bargepoles IMHO -
Anyone visited the site?
fair value 1+
Huh . . . . nearer to 4p, that is until something produces profits and these result in some return to investors . . . otherwise what are you spending yr money on?
Current 35p, - - - suffered a 25% fall today.

Robert, I learned the hard way that buying a share just because its a much better price than it was yesterday is an easy way to lose money.

I too am learning the hard way. I was in these a while back and sold out even, they then went and doubled in SP :(

Was just wondering if worth re-investing[needed to sell last time to liquidate some cash rather than losing faith in company - damn those expensive kids of mine]

Alex

Set yourself a rising buy based upon technical analysis

No point in regretting selling while they were even.

If I have 10 investments, about 3 will go down to my stoploss (~20%) , 4 will stagnate and I'll exit even, and 3 will go up. Those that go up tend to go up substantially because I prefer high risk/reward, such as tech and oilers, so overall I make a decent profit. For every trade where you get your timing wrong (in hindsight), you'll have another where you get it just right.

If you use level 2, it helps swing things slightly in your favour too.

Back to 20p I'm sure in this market condition.

UPDATE!! looks very good,bought@45p.

Nighthawk Energy says Jolly Ranch wells find hydrocarbons in multiple horizons
AFX


LONDON (Thomson Financial) - Nighthawk Energy Plc. said the five vertical wells drilled to date at Jolly Ranch have encountered hydrocarbons in multiple horizons.

The company said the Jolly Ranch Group project now has 13 further wells permitted, which are planned to be drilled before the end of the year.

Well 20p never happened. The update is very good and now talk of whether Cisco will now be sold-on early to pay for speeding development on the waterfloods and Jolly. These projects are suggestive of substantial income for such a small share issue and it appears to me that David Bramhill has pulled one out of the bag just when it was needed. On competitor boards a fairly level-headed calculation was done that if the lease rights were sold off we could be looking at 600p a share for that project's 300k acres alone. Hope Curry doesn't mind my pasting it here:

"..$15k/a, for our 300k acres, that is $4,500,000,000

4500m/2 (our share) =$2250m

say rate is /$ 1.8 = 2250/1.8 = 1250m

say about 205.5 million shares (as per total voting right rns recently)

1250 / 205.5 = 6.08 / share net to hawk


the only variable in the whole equation is the price of the land, which is based on what BP have actually paid cash for shale projects, as per hanson note


ps.... but of course we would need to proove it up more first...lol"

...

As you see things appear to have turned around very dramatically. The new DS Note refers to Hawks cash position very favorably too. The sp plunge did scare the life out of me but I didn't bail as I was convinced it was the wider market problem and nothing to do with Hawk per-se. Certainly Hawk's peers have been bashed just as hard, but Hawk always did have quite a following, much of which of course was on leveraged positions stopped out by the institutional panic sells.

Seems to me the Hawk is indeed about to soar again. Strong cash position, imminent and easy-recovered oil to fund the big projects (possibly enhanced by a Cisco sale?) and the icing on the cake -just 206M shares.

i accept that HAWK may not be a producer as yet, but from what i have seen, they do not seem to have put a foot wrong ...... may top up once we know for sure this poxy bill has been passed in USA, though indications are now very promising

cynic, the bill is irrelevant to Hawk IMHO, the institutionals that had to bail in the main market panic have already done so, and the clear BB consensus is that bottom happened just under 40p recently. Still so much upside now that even if you await a few more tens of pence rise to confirm things for you, still good profits to be had. I have added again and feel happy to see how these new focuses of attention now develop. They certainly are 'wow' figures and caught even an old Hawk bull like me by surprise. Make no mistake, this is the company transforming development that was hoped for and Hawk is on a well defined roadmap to being a significant oil producer.

Feel much better after such a horrible few weeks and I have a huge amount of excitement now about this company.

bill is relevant to every damn stock in the world! ..... if by some chance the bill is not passed, nothing will be spared

that would mean we're dooooomed??? Well let's hope the worst doesn't happen, going back to the Mad Max lifestyle doesn't gell with my arthritis.

Some good info here.

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1223344889&feed=oilbarrel_en

Nighthawk Energy Has Great Expectations Of Its Jolly Oil Shale Play In Colorado
In the past 18 months, Nighthawk Energy has undergone something of a transformation. The company came to AIM in March 2007 with a 37.5 per cent interest in the Cisco Springs stranded gas project in Utah. Since then, the company has significantly expanded its project portfolio, adding an oil shale play in Colorado and shallow oil waterflood projects in Kansas and Missouri that look set to eclipse Cisco Springs and generate some real production and cash flow growth over the near term.

The Jolly Ranch project, which covers almost 300,000 acres of Colorado, is a case in point. This acreage is home to multiple horizons, including the Cretaceous Codell formation, the Marmaton carbonate and, most interestingly, the Atoka and Cherokee oil shales. The project exposes the AIM firm to one of the hottest plays in the US, where billion barrel shale plays, such as the Barnett, Marcellus, Fayetteville and Bakken shales, have become one of the most active hydrocarbon exploration and development targets in recent years, with the oil majors spending billions of dollars acquiring shale assets in the US Mid-West. Nighthawk’s 50/50 joint venture partner Running Foxes Petroleum believes the Atoka and Cherokee shales, which run throughout the Jolly Ranch project area, are geologically similar to the prolific Bakken Shales of Montana, north Dakota and Saskatchewan, which the US Geological Survey reckons to hold a recoverable oil resource of between 3 and 4.3 billion barrels.

This is promising stuff for the AIM firm, which is now testing the potential of the Jolly Ranch acreage through the drillbit. Six wells have now been drilled on the acreage, of which two have now tested the shale play. The Craig 8-1 well produced 80 barrels per day from the Lower Atoka shales although initial swab testing indicates that production could rise to more than 300 bpd. The Jolly 16-1 well produced 76 barrels of oil over 17 hours from the Lower Atoka shales, with more flow information expected once production equipment has been installed. The two wells lie seven miles apart, indicating a large and continuous reservoir. Nighthawk said these results, which come only from the Lower Atoka shales, have “greatly exceeded expectations” with the Upper Atoka and Cherokee formations still to come.

A third well has been tested and put on production. The Jolly 2-1 well is producing around 25 bpd of sweet oil from the Marmaton, a rate that is expected to increase with the installation of a high capacity pump jack. The other three wells, the Jolly 4-13 and Craig 4-4 wells have similar Marmaton, Cherokee and Atoka formations as the previous wells and will be completed in the Lower Atoka Shales while the Craig 15-32 well will be completed in the Cherokee shales.

The decision not to focus on the Marmaton, which was originally touted as the primary objective of the drilling campaign, indicates this formation has been less fruitful than anticipated (the 25 bpd from Jolly 2-1 is not going to make shareholders rich) but, given the bounty from the shale zones, it is unlikely investors will loose too much sleep over this. In the meantime, the key to extracting more value from this project will be to keep drilling and to initiate a comprehensive reserves review to give the market a better picture of the scale of the reserve base. Thirteen more wells have already been permitted and should be drilled before year-end with a further 30 wells now being staked for future drilling.

Analyst Peter Bassett at broker Hanson Westhouse believes this is a “jolly exciting” start for Nighthawk. “Clearly it is early days for the Jolly Ranch project but the combination of the excellent drilling results and the continuous nature of the shale formations leads us to the conclusion that reserves will be substantial,” said Bassett, pointing to a possible recoverable reserve resource of 151-504 million barrels gross based on “very conservative” calculations. “With a huge land position already secured, Running Foxes and Nighthawk have the opportunity to capitalise on a major new shale play with a substantial reserve base and rapidly accelerating cash flow,” said Bassett.

The scale of this project - there are plans to drill the shale zones on an 80 acre spacing, making for a 2,800 well project - is going to require some substantial financing. These are not particularly deep wells (about 7,500 feet deep) but shale plays do require careful handling if they are to flow at commercial rates, which pushes up the well costs. Cash, of course, is at a premium in the current market and analysts are keen for the company to commission a CPR on the project to help with future fundraising activities and put some momentum behind the ailing share price.

Analyst Tim Heely at Daniel Stewart & Co reckons it is now in the company’s best interest to sell off the increasingly immaterial Cisco Springs gas project, a move that could raise US$150 million to help support the development of the more substantial Jolly Ranch project. Another option, of course, is to work up the project to the point where it can be sold to a cash-rich oil major: recent oil shale transactions show they are prepared to pay handsomely for access to these kinds of world class reserves.

More jam tomorrow ,who is buying oil assets at the moment?

Jam tomorrow? No, this is near-term income, totally wrong outlook.

"world class reserves" flippin nora, at these prices? They've already started work and with just a 4-month wait to pay for each pump (as I read it) then it seems very solid. I'm now all-in but would buy all I could if I had any spare.