oilyrag
- 12 Mar 2007 07:10
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.
gibby
- 27 Oct 2008 12:07
- 590 of 1373
cant see market dropping below 3000 even as bad as it seems - we will wake up one morning to a sudden bounce - just not sure when!!!!
geordieguy
- 27 Oct 2008 12:09
- 591 of 1373
thats when we kick gorgy ass
geordieguy
- 27 Oct 2008 12:09
- 592 of 1373
gordy
halifax
- 27 Oct 2008 13:03
- 593 of 1373
Final results not going down too well.
gibby
- 27 Oct 2008 15:19
- 594 of 1373
nice little earner on hawk today - but better on gkn - i think hawk will hover a bit and rise slowly even with things as they are - everything in place
halifax
- 27 Oct 2008 15:41
- 595 of 1373
Only if the price of oil recovers as their operating costs seem very high.
cynic
- 27 Oct 2008 16:02
- 596 of 1373
i would expect crude (nymex) to recover to $95/100 over the next few months, as at current levels (about $65) it is uneconomic even for the likes of iran, and even saudi reckons to need at least $55 ...... i am almost certain that aramco (aka saudi) will not actually shut down wells as that is too expensive, but will pump it out and put into their underground storage facilities.
geordieguy
- 27 Oct 2008 16:12
- 597 of 1373
iran gets a bit less than quoted oil price i think as well cynic. oil will get back to 100 again but not so sure so soon, maybe into 2009 later on
silvermede
- 27 Oct 2008 21:31
- 598 of 1373
US-focused oil company Nighthawk Energy* (HAWK) announced it expects to make the transition from developer to producer in the coming year as it reported a sharp rise in pre-tax losses. Losses for the year to June 30 climbed to 2.5 million dollars from 1.5 million dollars, as revenues climbed to 139,000 dollars from 132,000 dollars. Nighthawk said the drilling programme at its Jolly Ranch projects in Colorado had exceeded expectations. "Nighthawk made exceptional progress during the year ended 30 June 2008 and we expect to see a major transition from development to production over the next 12 months," commented managing director David Bramhill. Nighthawk has spent 26.8 million dollars during the year and has 21 million dollars on the balance sheet following a 14 million pound raise in January of this year. "This places Nighthawk in a strong position compared to many of its AIM peers as we believe we will see increasing self sufficiency during this year," commented broker Daniel Stewart. "We identify Jolly Ranch as the key to the success of Nighthawk for both conventional and un-conventional oil upside," it added. "Further comprehensive work is required here and we expect further news in this regard on a continuing basis; however, a third party independent assessment would greatly assist in transparent valuation." Daniel Stewart has a 'buy' recommendation and a 100p price target for the shares, which climbed 1.5p to 23.5p. GE&CR reckons that the shares are worth 147p even at $60 oil.
gnashlevel2
- 27 Oct 2008 22:14
- 599 of 1373
halifax, the operating costs are very low, $40k per waterflood well, Jolly is more but returns there are 4-month payback per-well.
Know anyone who does it cheaper? anyone?
oilyrag
- 28 Oct 2008 07:28
- 600 of 1373
gnash, I do it for 20 but keep coming up with dusters. LOL.
required field
- 28 Oct 2008 08:27
- 601 of 1373
At least something in my portfolio is rising......good grief !, I'm showing some blue !. Ladies and Gents we might have hit the bottom on this one !.
cynic
- 28 Oct 2008 09:03
- 602 of 1373
not a chance ...... i reckon this is a sucker bounce caused solely by a strong showing in F/E o'night, though that was merely recovering some of the devastation from previous days
gnashlevel2
- 28 Oct 2008 09:52
- 603 of 1373
No, the bottom has gone, get on while you can at these prices, BP has showed that Oil makes money, period. How ironic if BP buy Hawk...they have a taste for such as Hawk has.
gibby
- 28 Oct 2008 11:00
- 604 of 1373
yep i am showing blue too - glad bought in to hawk a few days ago - almost forgot what blue looked like - had a good day trade yesterday on gkn - made up for a crap few weeks!! i am sure hawk has bottomened
halifax
- 28 Oct 2008 11:28
- 605 of 1373
gnashlevel2 final accounts show revenue of $138k (+5%) admin expenses $3.2m (+105%) a very long way to go before we see a net profit especially if the price of oil remins where it is if recession contiues to bite.
gnashlevel2
- 28 Oct 2008 12:47
- 606 of 1373
halifax, don't daft, each Jolly well is likely to bring in around $4+MM profit a year.
Read that again, then multiply that up as we scale, then add in a VERY credit-friendly 4-month payback... 300,000+ acres... and acquisition hungry big companies like BP.
My bet of the year -this will go to BP within 6 months. And the day you hear about it it'll be too late to buy in :-)
CWMAM
- 28 Oct 2008 13:16
- 607 of 1373
I am in the BLUE bought again this morning @25.5p,the hawk is flying.
halifax
- 28 Oct 2008 13:44
- 608 of 1373
gnashlevel2 keep ramping I am already in, but dont be surprised if when HAWK actually produces oil it turns out to be in much smaller quantities than you expect which would be of little or no interest to the likes of majors like BP. Please try to be realistic.
gnashlevel2
- 28 Oct 2008 14:00
- 609 of 1373
I am realistic, RF are amongst the best at what they do with one of the most experienced men in the business at the helm in Steve Tedesco. He is confident that oil is there and that's a pretty safe bet. You see, even the VERY worst case scenario's for Jolly still come out multi-pounds net to Hawk. Ramper? In this climate? You must be joking. No-one will take ramping seriously again for years.