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.

it's all over-hyped; pump and dump etc ...... ask kate barnes, the raddled queen; she's never wrong on these things!

Well...it's steady improved production with this one...if they keep on like this for the next couple of years and somewhere along the line we get an oil price recovery...I'd like to think that the sp will be above 60 or 70p once again !.

RNS Number : 5798O
Nighthawk Energy plc
10 March 2009




Nighthawk Energy plc


Update on Commercialisation of Devon Project



The directors of Nighthawk Energy plc ('Nighthawk' or 'the Company') (AIM: HAWK), the US focused hydrocarbon and production company, are pleased to announce an operational update on the commercialisation of the Devon Oilfield waterflood project, located in Bourbon County, Kansas. Nighthawk holds an 80 per cent. interest in the project which covers an area of 1,764 acres. Running Foxes Petroleum Inc. ('Running Foxes') is the operator and holds the remaining 20 per cent.


The Devon Oilfield, one of Nighthawk's six development and production projects located in the US mid-west, has seen strong progress during the last six months, including:


*
Continuing drilling success

*
The ongoing construction of production and sales off-take facilities at the Vogel, Graham and Cleaver locations

*
Further construction of surface facilities

*
Expansion of the water injection process throughout the project area

*

Discovery of a new natural gas reservoir within the Graham area of the project


To date, Nighthawk has invested approximately US$6 million net in the Devon Oilfield project. All the wells drilled have targeted the Bartlesville channel sandstones at shallow depths of between 350 and 500 feet. The current status of drilling is as follows:


*
34 oil wells on primary production awaiting waterflooding to take effect

*
29 wells awaiting completion for production and tie in to surface facilities

*
11 wells drilled, cased and cemented for production

*
6 wells shut in awaiting infrastructure

*
15 injector wells injecting water

*
6 test wells designed to define the edges of the Bartlesville reservoir plugged and abandoned

*
20 wells permitted for future drilling

The current drilling success rate for the Devon Oilfield is 94 per cent., an excellent rate for any development project.


The rate of primary production is increasing as more wells are brought on stream and is on target to be in excess of 100 barrels of oil per day equivalent (gross), by 31 March 2009. The Directors expect this rate to increase markedly as additional wells are brought on stream.


Primary oil production should be considered a bonus prior to the waterflood process taking effect and a major positive indication. The water injection process is ongoing and the full effect on production is only expected to be observed during Summer 2009. At this stage of development, it is not possible to accurately predict optimum production levels, however, expectations currently range from 500 to 1,500 barrels per day (gross) for the developed acreage at the Devon Oilfield.


In addition to the oil production, a new and positive development is the discovery of a primarily natural gas reservoir at the Devon project, as announced on 19 February 2009. The Graham 6-36D-3 well was tested from the Lower Bartlesville formation at a depth of 430 to 438 feet resulting in a stabilised open flow test of 627 MCFGPD (thousand cubic feet of gas per day) through a one inch choke.


The well has been hooked up to a local pipeline and gathering system and natural gas is now producing at a choked off rate of 210 MCFGPD per day, a significant increase on production last reported of 160 MCFGPD.


A further five wells have subsequently been drilled with similar results to the Graham 6-36D-3 well and have all been cased as producers from the same Bartlesville formation. These wells are expected be hooked up to a pipeline and sale of product to commence within the next ten days.


David Bramhill, Managing Director, commented 'Running Foxes is making excellent progress on the continuing development of the Devon Oilfield. We currently have six projects that are either in early production or at the development stage. It is interesting to note that our Buchanan Group waterflood projects located in neighbouring Missouri, and contiguous to the Devon Oilfield with similar geology, cover in excess of 40,000 acres, a multiple of 24 times that at the Devon Oilfield.


'With the ongoing and successful development of our core projects, namely Jolly Ranch, Buchanan Group and the Devon Oilfield, expectations remain high. The current financial environment does not allow the value being created to be reflected in the share price. However, with our project portfolio, we believe we have the opportunity to build Nighthawk into a successful mid-tier enterprise within a reasonable timeframe. When the eventual upturn in both general market confidence and oil and gas prices happens, Nighthawk will be well positioned to benefit.'



David Racher B.Sc (Hons) Geology, who is a consultant to Nighthawk and has over 37 years of experience in the hydrocarbons industry and previously managed the Lasmo plc onshore US portfolio in Kansas, Louisiana, South Dakota, Texas and Wyoming, has approved the technical information contained in this announcement.

precis, precis, precis!
actually, there is bugger all new in this rns, but merely good pr telling us all how well HAWK is doing, without producing any numbers as to flow (5 gallons a day!) or profitability (don't be silly!)

Ohch!! feel like I've had my hand slapped. All will come to he who waits, comes to mind.

i have held HAWK for some time ..... that rns was a real waste of time apart from PR and puff ..... and why, why, why can almost none of you precis these long-winded and in this case, rather meaningless, statements? ...... elementary schooling even in this day and age surely?

Bid rumour in the city on Friday afternoon.

Rumour of 1.25 per share, not sure if its for Jolly Ranch or part of it.

Allways do your own research, but dont forget that if sentiment is behind the stock, in a market where Bowleven with no resources only licenses went from 42p to over 1, then this should go north.

right again....come on the 33p

anyone got any thoughts on tom results?

results are now out, and the following is extracted

1,088 bbl/d achieved from seven wells during testing on Jolly Ranch Project

Are we really meant to get excited about that?????

you're not, which is why you chose that handle obviously.

You are one of these idiots that complain when your garden seedling trees don't grow 30 feet in the first year...you seem to be completely in another world to other HAWK investors. They are proving the plays up only enough to show the intrinsic value then the lot is going for sale. By the wording of the RNS that sale is complete in April which is only a few days away. Suggestive of a very good price to markup a substantial rerating of HAWK.

Since you expect your seedlings to grow into mature trees overnight, I expect you won't even understand the impact of a rerating of this nature. It will move the sp hugely and by then, just maybe, you will cut this company some slack.

An excellent RNS, exceeded expected progress on all fronts and the confirmation of the farm-out sale literally just days away.

1,000 bpd is derisory ..... great things were touted for this company (note thread header), so much so that sp reached 100p or more ..... sure the company has cash, but why on earth would any major have any serious interest (as has also been heavily touted as the end game) in this single plankton in the ocean? ..... HAWK's strike rate is impressive, but if each well is only going to produce 1/200 bpd, then they will need a whole rainforest of donkeys to produce enough oil to make the company other than a little cash cow (sorry about all the mixed metaphors!) for the founders.

or have i missed a forecast that HAWK will be producing even 10,000 bpd by say end 2010 ..... and even that is very small beer

christ cynic, read my fcking reply it applies to this 'reply' of yours again.
Are you in your late teens or something? I mean you know nothing about the concept of a growing company. I am speechless, I knew you were some kind of clown but I never had you as moronic.

Remember some of our wells are only 700-ft deep and very cheap to drill.

you sound like Markymar on the RKH thread ..... would you agree that the purpose of an E&P is is to find and extract oil in commercial quantities? ...... if so, 1,000 bpd does not qualify in the real world ...... selling a farm-out, and i fully accept my ignorance in that quarter, surely just produces some cash for passing the buck, but in no way adds to the true value of the vendor, unless it can or has shown that it is sitting on very significant reserves ......

am i correct and/or have HAWK even half-way proved such reserves?

or to ask another question ...... do you think that HAWK is worth remotely close to 100p today or even in 3 months time? ..... if not, what value would you expect?

billy ... that much is true, but 1000 bpd is still only 1000 bpd which is the best part of fuck all

"and i fully accept my ignorance"

No you don't you bampot, if that were true you would ask the right questions in the right manner rather than just sit here and badmouth HAWK. You pillock. Honestly, you have enraged me this morning, not because of your badmouthing as such (all BB have them) but because you are so hugely stupid.

For the love of peter.. Look, reasons why 1000 barrels should not be regarded as poor:

Reason-1:
[quote from RNS]
Drilling and completion costs continue to fall and the Board is of the opinion
that, with the background of relatively low, albeit improving, oil prices,
our efforts are best focused on proving up the extent of the asset to establish
the project as a high reward world class non-conventional shale play, rather
than concentrating on generating maximum production at this stage. [read that last sentence cynic] [now read it again you are too thick to get it on one]

Reason-2:
The 1000 barrel target has been exceeded. However that is with 2 whole wells not even contributing yet.

Reason-3:
This is quote "test" flowing and not, repeat NOT full "production" which will include the other wells and also the effects of fraccing and co-mingling. These latter two enhancements will see these levels frankly sky-rocket. David Bramhill will be enjoying reporting this in due course but if you were half awake on HAWK you would know how exciting this all is for eventual "production" figures on the Jolly area in question.

Okay cynic -have I got through that 3 inches of calcium under your scalp on why you have been a silly-billy on berating the 1000 barrels thing? Good, can we move on?

The hints at something significant about Buchanan are interesting. Looks like DB keeping the powder dry on this one for a forthcoming RNS.

bringing 1000 to what? ...... 5000 at most optimistic? ...... remains to be seen, and very much wishful thinking, certainly at this juncture.

and of course you have still not answered the question ....... do you think that HAWK is worth remotely close to 100p today or even in 3 months time? ..... if not, what value would you expect?

marginally unfair i know, but the market is clearly as underwhelmed as i, so perhaps i am not the dolt you would like to paint me.

5000 for a handful of low-depth wells would be excellent - you obviously haven't done the scale-up of wells over the rest of the vast acreage that the eventual buyer would -then you are talking astronomical sums. This little test-patch on Jolly is just that. You must know that you pillock you are just rabble rousing here.

HAWK will NOT be there by the time that ever sees the light of day, it will have been sold off by then, that's the ENTIRE point of investing in HAWK, as it stated this is the goal from float and gives PI's a clear medium-term exit strategy -that is well on schedule.

As for the market, I don't read into it what you are given maybe 80% of PI money went hot into AFR this morning (including some of mine now back +15% haha!!!). Can I have your email address cynic? I will send you a scan of my cheque from Hawk when my 1.2 Million shares are converted on the company sale :-)

i also hold a modest number of HAWK, but am perhaps more realistic than you .... meanwhile, and as to be expected, you have not answered my questions ... and if you really do hold 1.2m shares in HAWK, then you are either talking balls, or are a damn fool for not off-loading the majority when the shares were 100p, or both.

and if you are in/out of AFR, then jolly good luck to you ..... i have done at least as well over recent days in the likes of HOIL, PMO, TLW, PCI and even on Dow last night .... but what has that to do with the value (or lack of it) of HAWK?