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.

probably just a reflection of continuing weakness in crude and nymex in particular

Looking at the chart on this one its just as crappy as amer and goo as you would say Cynic.,(The chart that is)

at least these guys actually have balck stuff even if it is only in very modest amounts

CYNIC,i was talking about the chart,and even you must agree it looks just as crap,as you would say?

sp is now looking very nasty .... down virtually 15%
no news out, but that sort of fall is rarely without reason

massive volume too ..... could be a forced sale i suppose, but would be nervous to top up without having any knowledge surrounding this

SER is producing 4k barrels of oil per month Hawk is producing very little yet HAWK's market cap is over 10 times that of SER. Perhaps HAWK has greater potential but that remains to be seen.

i have bravely (damn stupidly more like) just bought a further 33% at 24p

cynic didn't think you believed in averaging down as a good stategy.

i don't! .... that is why i am happy to be labelled as damn stupid!!

Not stupid cynic, very wise. Averaging down and taking profits on rises is the only way to go in these markets.

Down, on short selling or desperate insti in my book. I expect that you will be in profit by end of the week.

Good luck all.

hi maestro (whoops!) .... long time no hear ..... have done generally better shorting odd stocks!

Could be a shrewd move Cynic, don't see these changing your life but I agree that they are at a price where you'll see some profit in them.
Good luck old chap

i now have 20k of the poxy things, albeit that that is small beer ..... if the company is indeed taken out (within my lifetime!), then i suspect crude price will have recovered significantly and therefore the offer will also be at a multiple of today's price

It's a great opportunity to buy HAWK...too cheap...bought 6k today.

Why? are they selling any oil, wait for their next results, SER is a much better bet at least they have sales and production is increasing.

sp never lies! ..... wait and see who is right or even if both parties are wrong!

cynic agree but HAWK is a story that has so far not delivered. A lot of PI's have been scked in and we would hate to see them lose their shirts. As you may have pointed out in the past a number of small E&O oilies are likely to go out of business this year if there is no improvement in the price of oil.

has HAWK not delivered as promised? ..... confess i was very much under the impression that they have drilled very few dusters, unlike say EME

Placing at 20p to raise 7 million, to develope Jolly Ranch, Devon and waterflood projects. SP may fall to 20p region, but then as stated in RNS, oversubscribed for placement shares. That Halifax is precisely why HAWK shares are going up in the long haul, too many insti's want them.

Another question answered in the RNS is that the cost of production is as low as $25 a barrel and this is decreasing.

IMHO another no brainer. I shall be looking to top up again somewhere in the low 20's.

wonder if that production cost is truly accurate.
there was a big article on this issue in the Telegraph a couple of days ago, and from memory, oil recovery in USA was approx $55, though of course there will always be oddities