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.

The pre IPO price was actually 25p, correct me if i am wrong .....

Sorry Tonker, a mate of mine got them at 4p.

oilyrag,

At the seed capital stage I presume?

Probably, he was on about this one ages ago.

A whole of shares issued at 0.25p, 3.25p, 4p.......in the past, and all not subject to any "lock in".......thats why the SP is going nowhere fast, too many people sat on too much profit.

Once the SP settles down to normality, and anyone seeking a quick profit is out, then we shall see some real value added to this epic.

Currently, Nighthawk hold a 37.5% interest in Cisco Springs, Utah. Cisco Springs has at the moment 18 producing gas wells supplying gas to California. There are another 60 wells planned on this development over the next couple of years.

Being in the US it is also worth pointing out that there is little, or no, political risk involved with this investment.

The current valuation of NIGHTHAWKS investment in Cisco Springs is 98.6 million. If you divide this by the 151,823,126 shares in existance then Cisco is worth 64.9p per share at the moment.

Cash raised from the latest flotation after stoppages raised 9,100,000, this is worth 6p per share.

There may be a lot of profit taking going on at the moment, but those dealers are possibly being a bit short sighted or greedy. This should be worth 71p right now.

I think someone may be mopping up all the slack because surely price would be falling on current sales, once youve worked out the proper trading position. Still lots of large broker deals going on. This is a definate buy stroke hold in my book, what does anyone else think. YPYMYTYC.

If you try to analyse trades so far today, this is pretty well it.
broker to broker 908,000
cross over at same price 68,000.
protected transaction 450,000
ordinary purchased 20,528
ordinary sales 312,376.

If the broker and cross over trades are for a large order, then the real purchases go up to 996,528. The protected transactions are genuine sales, so the real sales figure for the day should be 762,376. This is why the price is up.

you're not alone here oily--I picked up 10000 shares yesterday--hope your valuation catches on!

Another observation is that the underlying sales price is slowly rising, this confirms to me that someone is buying in the background. Unless some of the sales are in fact purchases.

Oily... just took a small position 6500 purchase... take a look - it shows as a sell, the spread is 23 - 24.5, ie mid 23.75, i bought for 23.65... so your theory could be true, most sells could be buys...

Thanks Big Ted, I've been banging my head against the wall all day trying to make sence of it all. That makes a lot of sence to me all we need now is for the MM's to accidently put a 1 in front of the SP.

Big Ted / Oily

I have bought 14250 today, it also shows as a SELL.

I sold out - stop loss triggered - only had 10,000

bhunt, if as we surmise that the mm's are dictating the price whatever the deals in front of them are, then maybe it might be worth going back in without having a stop loss in place. I reckon that by holding the price they are trying to maximise their profits, on what is after all, an attractive share. If this is the case, then you wouldn't lose too much on retrading.

Can anyone confirm if the 23.63p sales are in fact buys. Possibly same problem as yesterday.

Oily, level 2 quotes showing 23.18 - 23.62, they are buys...

Thanks bt.

Slow start today, but at least MM's seem to have sorted out SP problems.

This was covered in the stock channel tv programme yesterday-it's worth going to the website and ploughing through the boring stuff to listen to the oil barrel chap talk about this company. He called it a safe bet--us regulated-gas producing and profitable-lots more holes to be drilled 90% success rate so far--a cash cow! The market has yet to wake up to this one IMO. I intend to add as and when.